Wires

GRAINS-U.S. soybeans fall to near 1-mth low on doubts about Chinese purchase

SYDNEY, Jan 16 (Reuters) - U.S. soybeans fell on Thursday to hit a near one-month low as doubts emerged about whether China would purchase large amounts of North American agriculture products as promised in its trade deal with the United States.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were down 0.1% at $9.27-3/4 a bushel by 0138 GMT, near the session low of $9.27 a bushel - the lowest since Dec 20. Soybeans closed down 1.4% on Wednesday.

* The most active corn futures were down 0.2% at $3.86-3/4 a bushel, having closed down 0.4% in the previous session.

* The most active wheat futures were down 0.4% at$5.71-1/4 a bushel, having closed up 0.8% on Wednesday when prices hit an August 2018 high of $5.79 a bushel.

The United States and China on Wednesday signed a trade deal, meant to reduce tensions after nearly two years of a tit-for-tat tariff war.

* The centrepiece of the deal is a pledge by China to purchase at least an additional $200 billion worth of U.S. farm products and other goods and services over two years, above a baseline of $186 billion in purchases in 2017, the White House said.

* But market concerns about increased Chinese purchases were stoked when Chinese Vice Premier Liu He said Beijing would make the purchases "based on market conditions."

* The National Oilseed Processors Association reported U.S. soyoil stocks ballooned to 1.757 billion pounds by the end of December, up 21% from the previous month and topping trade expectations.

MARKET NEWS

* The dollar gave a little ground to riskier Asian currencies on Thursday, as investors hoped the Sino-U.S. trade deal could herald warmer relations between the world's two biggest economies and help to revive global growth.

* Oil prices were down slightly on Wednesday, pressured early by data showing big increases in U.S. refined products but recovered some of the losses later by the signing of a Phase 1 trade deal between Washington and Beijing.

* The Dow ended above 29,000 for the first time on Wednesday and the S&P 500 also closed at a record high after the United States and China signed the trade agreement and pledged to resolve a tariff dispute that has roiled Wall Street for over a year.

(Reporting by Colin Packham; Editing by Anil D'Silva)