GRAINS-Soybeans off 2-week top, wheat rebound stalls as virus toll jumps

Gus Trompiz and Naveen Thukral

* Jump in coronavirus death toll in China rekindles investor fears

* Wheat little changed after Wednesday's bounce from two-month low

* Market weighs demand effect in wake of U.S.-China trade deal

* Grain market also awaiting weekly U.S. export data (Updates with European trading, changes byline/dateline)

PARIS/SINGAPORE, Feb 13 (Reuters) - Chicago soybean futures retreated from a two-week high on Thursday as a sharp rise in the death toll from the coronavirus outbreak in China stoked concern about fallout from the disease, including for grain demand.

Corn also eased while wheat was flat to lower.

The weaker trend in Chicago futures broke a run of eight daily gains for soybeans and also curbed a recovery for wheat from a two-month low on Wednesday.

The health crisis has added to uncertainty as to the scale of Chinese purchases of U.S. crops under a Phase 1 trade agreement with Washington signed a month ago.

Grain markets were also awaiting a fresh indication on demand from weekly U.S. export sales figures due at 1330 GMT.

The most-active soybean contract on the Chicago Board of Trade (CBOT) was down 0.3% at $8.90 a bushel, by 1234 GMT, having hit its highest since Jan. 29 at $8.94-1/2 earlier.

CBOT wheat was unchanged on the day at $5.47-1/2 a bushel, having closed 1% firmer on Wednesday after prices had earlier hit a Dec. 16 low of $5.38 a bushel.

Other wheat contracts were slightly lower.

Corn shed 0.5% to $3.81 a bushel.

The number of deaths in China's central Hubei province from the virus outbreak jumped by 242 on Wednesday to 1,310, the fastest daily rise in the toll since the pathogen was identified in December.

The steeper rise in fatalities sent share and oil prices lower.

"Grain markets are lower as traders attempt to discern the severity of the coronavirus (still a big unknown), while hopes of Phase 1 purchases linger in the back of their minds," U.S. brokerage Allendale said in a note.

The coronavirus outbreak could reduce Chinese purchases of U.S. farm goods, White House national security adviser Robert O'Brien said earlier this week.

China, however, has not informed Washington of any delays or reductions to planned purchases of U.S. agricultural goods under the Phase 1 trade deal due to the coronavirus, U.S. Department of Agriculture (USDA) Under Secretary of Trade Ted McKinney said on Wednesday.

In monthly supply and demand projections on Tuesday, the USDA said U.S. soybean supplies will be smaller than previously expected due to rising export demand from China.

The agency's larger than expected forecast of global inventories in its Feb. 11 report continued to weigh on wheat prices.

Wheat prices in the European Union, meanwhile, could decline from the spring as the prospect of a big Russian harvest and ample feed grain supplies offset an expected fall in EU wheat output, consultancy Strategie Grains said.

(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore, Editing by Sherry Jacob-Phillips and David Evans)