Soybeans fall on concerns over slow pace of trade talks

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SYDNEY - U.S. soybeans futures edged lower for the third consecutive session on Wednesday, as concerns over the progress of trade talks between Washington and Beijing stoked fears over global oilseed trade.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were down 0.3 percent to $9.01-1/4 a bushel by 0132 GMT, having closed down 0.2 percent on Tuesday.

* The most active corn futures were up 0.1 percent to $3.71-1/4 a bushel, having closed little changed in the previous session.

* The most active wheat futures were down 0.1 percent at $4.56 a bushel, having closed little changed on Tuesday.

* U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin plan to travel to China next week for another round of trade talks with Chinese Vice Premier Liu He.

* Bloomberg reported U.S. officials were concerned Beijing was pushing back against Washington's demands during trade talks, lowering hopes for a resolution to the tariff war that has threatened global oil demand

* Farmers in Nebraska, the No. 3 U.S. corn state, are struggling with historic flooding, although planting is still a few weeks away.

MARKET NEWS

* Major currencies stuck to tight ranges in early Asian trading on Wednesday as investors awaited the outcome of the Federal Reserve's March policy meeting later in the day.

* Oil prices fell on Wednesday, retreating from a four-month high, as concerns that trade talks between the United States and China have stalled, stoking fears over the outlook for global economic growth.

* The benchmark S&P 500 index ended little changed on Tuesday as investor optimism regarding the Federal Reserve's expected affirmation of its dovish policy stance was offset by reports of fault lines emerging in ongoing U.S.-China trade negotiations.

DATA/EVENTS (GMT)

0930 UK CPI Feb

1300 Russia Unemployment Rate Feb

1800 US Federal Reserve's Federal Open Market Committee announces its decision on interest rates followed by statement

1830 U.S. Federal Reserve chairperson holds a news conference

Grains prices at 0132 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI

CBOT wheat 456.00 -0.50 -0.11% -0.16% 477.18 53

CBOT corn 371.50 0.25 +0.07% +0.00% 376.04 64

CBOT soy 901.25 -2.75 -0.30% -0.50% 913.34 55

CBOT rice 10.82 $0.04 +0.37% +0.98% $10.56 71

WTI crude 58.86 -$0.17 -0.29% -0.39% $56.17 72