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GRAINS-Wheat eases from 1-month top, soybeans tick up after 4 sessions of losses

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SINGAPORE, Nov 26 (Reuters) - Chicago wheat futures slid on Tuesday, giving up some of the previous session's gains which drove the market to its highest in more than a month on potentially tighter world supplies. Soybeans edged higher after four sessions of losses, while corn fell after closing marginally higher on Monday.

FUNDAMENTALS

* The most-active wheat contract on the Chicago Board Of Trade (CBOT) lost 0.4% to $5.31 a bushel by 0150 GMT, after hitting its highest since Oct. 21 at $5.34-3/4 a bushel on Monday.

* Soybeans added 0.2% to $8.94-1/2 a bushel and corn gave up 0.3% to $3.69-1/4 a bushel.

* The wheat market has been supported in recent days on a mix of fund-driven short-covering and bullish fundamentals, including rising cash values for U.S. and Russian supplies, wet weather in Europe and fears of a decline in U.S. acreage.

* The slow pace of the U.S. corn and soybean harvest this autumn may have limited the number of winter wheat acres planted for harvest in 2020.

* Analysts also noted weather issues, including dry conditions in Russia and excessive moisture elsewhere.

* After the CBOT closed on Monday, the U.S. Department of Agriculture rated 52% of the U.S. winter wheat crop in good to excellent condition, unchanged from a week earlier. Analysts surveyed by Reuters on average had expected a decline of 1 percentage point.

* In the soybean market, the focus is on trade talks between Washington and Beijing.

* China and the United States are "moving closer to agreeing" on a "phase one" trade deal, the Global Times, a tabloid run by the ruling Communist Party's official People's Daily, reported on Sunday.

* But the report noted that Washington and Beijing had not agreed on specifics or size of rollbacks of tariffs on Chinese goods. Beijing's insistence that Washington roll back the Trump administration's tariffs has been a major sticking point.

* Chinese buyers scooped up at least 20 cargoes of Brazilian soybeans last week as uncertainty over a trade deal with the United States sent them rushing to lock in supplies, traders said on Monday.

MARKET NEWS

* Asian stocks rose as an apparent olive branch from Beijing in trade talks with Washington added to other recent signs of progress, fueling a rally in Wall Street's main benchmarks to record highs.

Grains prices at 0150 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 531.00 -2.00 -0.38% +3.71% 517.18 67CBOT corn 369.25 -1.25 -0.34% +0.20% 380.93 37CBOT soy 894.50 2.00 +0.22% -0.72% 928.76 32CBOT rice 12.20 $0.01 +0.04% -0.37% $12.03 71WTI crude 57.98 -$0.03 -0.05% -1.02% $56.02

Currencies

Euro/dlr $1.101 -$0.001 -0.12% -0.43%USD/AUD 0.6780 -0.001 -0.09% -0.06%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Naveen Thukral; Editing by Subhranshu Sahu)