GRAINS-Soybeans firm as U.S.-China talks assessed, wheat steady after fall

disruption to massive U.S. soybeans exports to China, was

* Investor mood improves after worries on trade deal delay

* U.S. soybeans, corn still capped by S.America supply

* CBOT wheat steadies after hitting one-week low

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Dec 4 (Reuters) - Chicago soybean futures edged higher on Wednesday as investors took a more hopeful view on chances for a U.S.-Chinese trade agreement, while wheat also firmed after a two-day slide. Corn was little changed as traders continued to monitor weather-delayed U.S. harvesting. Broadly favourable crop conditions in South America were continuing to cap U.S. soybean and corn, analysts said. The most-active soybean contract on the Chicago Board of Trade was up 0.6% at $8.76-1/2 a bushel, holding above Monday's near three-month low of $8.67-1/2. Share prices recovered some ground after losses on Tuesday when U.S. President Donald Trump said a trade deal with China might have to wait until after the 2020 U.S. presidential election. Investors were reassured by a Bloomberg report that Beijing and Washington were moving closer to a deal. However, reaction on grain markets, which have been buffeted moderate given the protracted nature of the talks. "Soybean prices look to have a limited upward potential considering the positive weather conditions currently in place in Brazil," consultancy Agritel said. Brazil's 2019/2020 soybean crop, in the final phase of planting, could reach a record 122.7 million tonnes, according to the average forecast in a Reuters survey of 16 market analysts. CBOT corn inched up 0.1% to $3.81-1/2 a bushel. Corn drew some support from the slight bounce in wheat, as well as ongoing uncertainty about weather-delayed U.S. harvest. In its weekly crop progress report on Monday, the U.S. Department of Agriculture said 89% of U.S. corn was harvested, up just 5 points from a week earlier and compared with the five-year average of 98%. Wheat added 0.7% to $5.28-3/4 a bushel. It earlier touched a one-week low at $5.22-1/4, in a pullback from last Friday's five-month high. "The rally in wheat prices was overdone and not really connected to global prices," said Ole Houe, director of advisory services at brokerage IKON Commodities in Sydney. "World supplies remain plentiful despite the Australian drought and at the moment the task of the world market is to simply chew through stocks." Egypt's state grain buyer GASC on Tuesday bought 295,000 tonnes of Russian wheat in an international tender at which no U.S. wheat was offered.

Prices at 1314 GMT

Last Change Pct End Ytd PctMove 2018 MoveCBOT wheat 528.75 3.50 0.67 503.25 5.07CBOT corn 381.50 0.25 0.07 375.00 1.73CBOT soy 876.50 5.50 0.63 895.00 -2.07Paris wheat Dec 185.75 -0.75 -0.4 191.25 -2.88


Paris maize Jan 165.75 -0.25 -0.1 175.00 -5.29


Paris rape Feb 389.25 0.00 0.00 366.00 6.35WTI crude oil 57.19 1.09 1.94 45.41 25.94Euro/dlr 1.11 0.00 -0.0 1.1469 -3.39

1 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 Sriraj Kalluvila)