GRAINS-Prices consolidate as market weighs trade and crop prospects

Gus Trompiz and Naveen Thukral

* Prices consolidate near multi-week lows

* Wheat eases after bounce fueled by U.S. crop ratings

* South America planting and U.S.-China uncertainty curb prices

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Nov 20 (Reuters) - Chicago corn and wheat futures edged lower on Wednesday and soybeans ticked up as prices consolidated near multi-week lows while traders awaited more indications on U.S.-China trade talks and crop prospects in the United States and South America. The most-active corn contract on the Chicago Board of Trade was down 0.4% at $3.68-1/2 a bushel at 1229 GMT, just above Monday's two-month low of $3.67-1/2. CBOT wheat was down 0.4% at $5.13 a bushel, consolidating near Monday's one-month low of $4.98-1/2. Soybeans added 0.3% to $9.13-3/4 a bushel after touching Monday's 1-1/2 month low of $9.10 for a third session in a row. Traders were waiting for the U.S. corn and soybean harvests to be wrapped up to gain a clearer picture of yields after weather delays this year. The U.S. Department of Agriculture (USDA) on Monday said that the corn harvest was 76% complete, below an analyst consensus estimate of 77% and well below the five-year average of 92%. The agency also pegged the soybean harvest as 91% complete, matching trade expectations but below the five-year average of 95%. "The remaining fields are likely to be harvested over the next week or two. Only then will it become clear how significant the yield shortfalls have been as a result of the delayed plant development," Commerzbank said in a note. Corn had drawn some support on Tuesday from slower than expected harvest progress and the announcement of a large export sale for the second day in a row. However, rainfall in Brazil and Argentina, which should help planting prospects for corn and soybeans, were keeping a lid on the market. Uncertainty over trade negotiations between Washington and Beijing was also encouraging grain markets, particularly soybeans, to hold in a narrow range. Both sides had pointed to progress in the talks in the past week, but U.S. President Donald Trump warned on Tuesday that his country would raise tariffs on Chinese imports if no deal is reached. Soybeans and other oilseed markets found some support on Wednesday from a rally in palm oil futures linked to tightening supply. Wheat had risen on Tuesday with support from a lower than expected weekly rating for U.S. winter wheat crops, but it remained anchored by large global supplies. "I think there was some concern about low temperatures last week and lower crop conditions this week, but nothing more than that," one European trader said of wheat. However, poor harvest prospects in Australia and falling estimates for Argentina's crop were helped to underpin wheat.

Prices at 1229 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 513.00 -2.25 -0.44 503.25 1.94CBOT corn 368.50 -1.50 -0.41 375.00 -1.73CBOT soy 913.75 2.25 0.25 895.00 2.09Paris wheat Dec 180.00 -0.25 -0.14 191.25 -5.88Paris maize Jan 163.50 0.25 0.15 175.00 -6.57Paris rape Feb 393.50 1.50 0.38 366.00 7.51WTI crude oil 55.48 0.27 0.49 45.41 22.18Euro/dlr 1.11 0.00 -0.19 1.1469 -3.59

Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne

(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore, Editing by Sherry Jacob-Phillips and David Goodman)