* Wheat, corn fall for 5 of 6 sessions on virus fears
* Soybeans edge up, declining Chinese demand to curb gains (Recasts with wheat, corn; adds quote in paragraph 3)
By Naveen Thukral
SINGAPORE, Feb 26 (Reuters) - Chicago wheat and corn lost ground on Wednesday, with both markets falling for a fifth session in six, on worries about the spread of coronavirus to shores beyond China and its impact on global economic growth.
Soybeans climbed a tick higher, though concerns over lean demand in top buyer China following the virus outbreak limited gains.
“Wheat’s recent bullishness has been stymied by the flu epidemic, at least indirectly,” said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia.
“We think that block on wheat though might have been pretty easy anyway, in our view the rally had probably done about enough already.”
The most-active wheat contract on the Chicago Board Of Trade
was down 0.5% at $5.34-1/4 a bushel, as of 0353 GMT, and corn lost 0.1% to $3.76-1/4 a bushel. The wheat market had gained almost 2% last week.
Soybeans were up 0.1% at $8.89 a bushel.
Agricultural markets were under pressure as fears mounted that the coronavirus outbreak in China will grow into a pandemic after sharp rises in infections in South Korea, Italy and Iran and other cases found in the Middle East.
Asian shares fell as a U.S. warning to Americans to prepare for the possibility of a pandemic drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows.
The U.S. Centers for Disease Control and Prevention on Tuesday warned Americans to prepare for the spread of coronavirus in the United States, signalling a change in tone for the Atlanta-based U.S. health agency.
Ukraine may harvest another good grain crop in 2020 due to favourable weather conditions this winter, a senior state weather forecaster said on Tuesday.
Commodity funds were net buyers of CBOT soybean, wheat and soymeal futures contracts on Tuesday, net sellers of soyoil and net even in corn, traders said. (Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)