GRAINS-Wheat extends fall on renewed signs of ample global supplies

By Sybille de La Hamaide and Naveen Thukral

PARIS/SINGAPORE, Aug 28 (Reuters) - Chicago wheat futures extended their fall to a new one-week low on Thursday as expectations of bumper supplies continued to weigh on sentiment, while corn rose for the first time in four sessions and soybeans were largely unchanged.

"Growing global wheat production is going to pressure prices," said one grains trader in Singapore. "Buying interest is also very limited."

The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 was down 0.2% to $5.23 a bushel at 1048 GMT, after falling to $5.22-1/4 a bushel in earlier trade, a price not seen since August 20. It had already scored a one-week low in the previous session.

Wheat prices are facing headwinds amid higher production forecasts in major exporting countries and expected rainfall in U.S. winter wheat-growing areas in the coming days, analysts said.

Australia is on track to produce between 32 million and 35 million metric tons of wheat in its upcoming harvest, according to analysts, who raised their forecasts after an improvement in crop conditions and said they could further upgrade them.

In Europe, Argus Media expects French soft wheat exports outside the European Union to rebound to 8 million tons in 2025/26 but still leave France with its biggest stockpile in about 20 years, helped by a 30% rebound in its harvest.

The most traded milling wheat contract on Paris-based Euronext hit a new contract low of 192.50 euros ($225.36) per ton on Thursday.

Corn Cv1 rose 0.1% to $4.06-1/2 a bushel and soybeans Sv1 slid 0.2% to $10.45-3/4 a bushel.

U.S. farmers are on track to harvest the nation's biggest corn crop in history this autumn, as well as a bumper soybean crop.

The focus in the soybean market is shifting to probable U.S.-China trade talks. Senior Chinese trade negotiator Li Chenggang is expected to travel to Washington this week to meet U.S. officials, a U.S. government spokesperson said, as the two superpowers seek to chart a path beyond their current tariff truce.

($1 = 0.8542 euros)