* Hopes of U.S.-China trade deal lend some support to soybeans
* Brazilian real's slide adds to competition from S. American supplies
* Corn, wheat also steady in run-up to Thanksgiving holiday closure
(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Nov 27 (Reuters) - Chicago soybeans edged higher on Wednesday, holding above a two-month low struck a day earlier, as traders weighed up chances for an initial trade accord between Washington and Beijing that could boost U.S. exports. Corn and wheat also ticked up after falling on Tuesday as traders adjusted positions ahead of the Thanksgiving holiday on Thursday, when Chicago markets will close and then open for a shortened session on Friday. Competition from South America, where planting weather has improved and a slide in the real currency has made Brazilian supplies cheaper, was continuing to curb Chicago soybean and corn prices, analysts said. The most-active soybean contract on the Chicago Board Of Trade (CBOT) was up 0.3% at $8.87 a bushel at 1204 GMT. The United States and China are close to agreement on the first phase of a trade deal, U.S. President Donald Trump said on Tuesday, after top negotiators from the two countries agreed to keep working on remaining issues. China is the world's biggest soybean importer and the United States has lost market share since the trade dispute started last year. "A U.S.-China trade deal might be the opportunity for a thaw once/whence U.S. beans are able to make their way into China in greater volumes," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. Global shares traded near a record high as Trump's comment rekindled expectations of some sort of agreement. However, Chinese buyers scooped up at least 20 cargoes of Brazilian soybeans last week amid uncertainty over a trade deal with the Washington, traders said on Monday. A drop in the Brazilian real to a record low against the dollar on Tuesday also increased the competitiveness of Brazilian supplies for export. Beneficial rain for soybean and corn planting in Brazil and Argentina has also acted as a brake on Chicago prices. CBOT corn was up 0.3% at $3.79-1/2 a bushel while wheat gained 0.3% to $5.32-3/4 a bushel. Wheat has consolidated since a rally on Monday. That price run-up was fueled by a lack of physical deliveries against spot futures. Adverse weather in several parts of the world, steady demand and slow farmer selling were also underpinning wheat markets. Snow expected this week in northern U.S. grain belts, however, could provide beneficial protection for U.S. winter wheat crops, Rabobank's Michael Magdovitz said. But wintry weather could add to delays in a late-running corn harvest and leave some crops in the fields until spring, he added.
Prices at 1204 GMT
Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 532.75 1.75 0.33 503.25 5.86CBOT corn 379.50 1.25 0.33 375.00 1.20CBOT soy 887.00 2.75 0.31 895.00 -0.89Paris wheat Dec 183.00 1.00 0.55 191.25 -4.31Paris maize Jan 165.75 0.00 0.00 175.00 -5.29Paris rape Feb 387.50 1.75 0.45 366.00 5.87WTI crude oil 58.62 0.21 0.36 45.41 29.09Euro/dlr 1.10 0.00 -0.13 1.1469 -4.05
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 Subhranshu Sahu, Sherry Jacob-Phillips and David Evans)