Wires

GRAINS-Soybeans extend losses into eighth session on China demand worries

SYDNEY, Jan 30 (Reuters) - U.S. soybean futures fell for an eighth consecutive session on Thursday as the coronavirus outbreak added to fears that promised Chinese purchases of U.S. farm goods will not materialise.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade slipped 0.1% to $8.92-1/4 a bushel by 0115 GMT, having closed down 0.2% on Wednesday.

* The most active corn futures were up 0.1% at $3.84-3/4 a bushel, having closed down 0.6% in the previous session.

* The most active wheat futures were down 0.1% to$5.61-1/2 a bushel, having closed 1.3% lower on Wednesday.

* U.S. Agriculture Secretary Sonny Perdue said on Wednesday he does not know whether China's coronavirus outbreak will affect Beijing's pledge to radically increase purchases of American farm goods under the Phase 1 deal signed on Jan. 15.

* The virus has added to doubts about Chinese demand after an absence of fresh purchases in the wake of the deal.

MARKET NEWS

* The dollar held near a two-month high against a basket of major currencies while the Australian dollar and the yuan were under pressure as investors tried to shield themselves from assets that could be hit by China's virus epidemic.

* Oil prices were mixed on Wednesday as worries about the coronavirus outbreak and swelling U.S. crude inventories weighed on prices, counter-balanced by talk that OPEC could extend oil output cuts.

* The S&P 500 ended slightly lower on Wednesday, as an initial boost from the likes of Apple, Boeing and General Electric following their quarterly results faded in the wake of a policy announcement from the Federal Reserve. (Reporting by Colin Packham; Editing by Subhranshu Sahu)