GRAINS-Wheat extends fall, corn steady before U.S. planting data

Updates at 1032GMT, changes dateline

PARIS/CANBERRA, Feb 27 (Reuters) - Chicago wheat fell again on Thursday to hit a two-week low, while corn edged up as traders adjusted positions before U.S. planting forecasts while awaiting more indications on U.S. tariff policy.

Soybean futures ticked up.

The U.S. Department of Agriculture is widely expected at its annual Outlook Forum on Thursday to project a shift in acreage from soybeans towards corn as farmers are attracted by better potential margins in corn.

"Traders will focus on the jump in corn planted acres," Peak Trading Research said in a note. "Then it's all eyes on tomorrow's PCE data," it said, referring to a U.S. inflation reading on Friday.

Investor nervousness over proposed U.S. tariffs, and possible retaliation against U.S. agricultural exports, has curbed grain prices this week along with easing concerns about weather for northern hemisphere wheat and South American corn.

The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 was down 0.5% at $5.76-3/4 a bushel by 1032 GMT, close to an earlier two-week low.

CBOT corn Cv1 was up 0.1% at $4.94 a bushel and CBOT soybeans Sv1 were 0.7% higher at $10.48 a bushel.

The potential for a peace deal between Russia and Ukraine, as sought by U.S. President Donald Trump, is also weighing on wheat as it would reduce the risk of Black Sea export disruptions, Commonwealth Bank analyst Dennis Voznesenski said in a note.

Commodity funds who already held a net short position in CBOT wheat have been selling in recent days, traders said.