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GRAINS-Soybeans edge up, checked by fears over U.S.-China trade deal

    * Soybeans recoup losses from previous day
    * Corn gains in fourth straight session
    * Wheat little changed, still pressured by weak demand

    By Colin Packham
    SYDNEY, March 6 (Reuters) - U.S. soybeans edged higher on
Wednesday, though gains were checked due to fears that an
eagerly awaited trade deal between Washington and Beijing would
fail to materialise. 
    Corn, meanwhile, extended an upward trend into a fourth
consecutive session. Wheat was little changed. 
    The most active soybean futures on the Chicago Board Of
Trade were up 0.2 percent at $9.15-1/4 a bushel by 0334
GMT, having closed down 0.2 percent on Tuesday. 
    "The market continues to worry about the relationship with
China," said Tobin Gorey, director of agricultural strategy,
Commonwealth Bank of Australia. 
    U.S. Secretary of State Mike Pompeo said in an interview
that President Donald Trump will reject a U.S.-China trade deal
that is not perfect. 
    China's commerce minister said earlier on Tuesday talks with
the United States have been difficult, although working teams
from the two countries are continuing negotiations. 
    The most active corn futures were up 0.2 percent at
$3.76-1/2 a bushel, after gaining 0.3 percent on Tuesday. 
    The most active wheat futures were little changed at
$4.62-1/2 a bushel, having closed up 1.6 percent in the previous
session. Despite Tuesday's rally, analysts said wheat remains
under pressure on tepid demand for North American supplies. 
    Australia's 2019/20 wheat harvest is expected to jump 38
percent if farms receive rain. 
        
 Grains prices at  0341 GMT
 Contract      Last   Change   Pct chg  Two-day chg   MA 30  RSI
 CBOT wheat  462.50    -0.25    -0.05%       +1.54%  503.24   13
 CBOT corn   376.50     0.75    +0.20%       +0.47%  382.68   33
 CBOT soy    915.25     1.50    +0.16%       -0.08%  924.41   39
 CBOT rice    10.68   -$0.04    -0.33%       +0.05%  $10.57   60
 WTI crude    56.09   -$0.47    -0.83%       -0.88%  $54.75   61
 Currencies                                                     
 Euro/dlr    $1.129  -$0.002    -0.14%       -0.41%             
 USD/AUD     0.7031   -0.005    -0.72%       -0.86%             
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per
 hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Tom Hogue)
  
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