GRAINS-US soybeans lose more ground on lack of Chinese demand

SINGAPORE, Sept 25 (Reuters) - Chicago soybean futures slid on Thursday, falling for a sixth session in seven, as Chinese buyers stayed away from the U.S. market amid a trade war between the two countries.

Corn fell in step with weaker soybeans, although losses were checked by early harvest reports of smaller-than-expected U.S. yields, while wheat slipped for a second straight session.

FUNDAMENTALS

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 fell 0.1% to $10.08 a bushel by 0007 GMT, trading close to a six-week low hit on Tuesday.

Corn Cv1 gave up 0.1% to $4.23-3/4 a bushel and wheat Wv1 fell 0.1% to $5.19 a bushel.

Chinese importers kept up a hectic pace of Argentine soybean purchases, booking about 20 cargoes, or roughly 1.3 million tons, chipping away at the U.S. market share.

Argentina's export tax waiver has reinforced China's shift towards South American soybeans as it remains locked in a trade dispute with Washington.

Soybean and corn futures face seasonal supply pressure from the onset of the U.S. harvest, though doubts over yields have helped underpin both markets.

MARKET NEWS

MSCI's global equities gauge fell on Wednesday while the dollar rose and gold prices dipped, as investors digested cautious comments from Federal Reserve Chair Jerome Powell about when the central bank might next cut U.S. interest rates. MKTS/GLOB

DATA/EVENTS (GMT)

0500 Japan Chain Store Sales YY Aug

1230 US Durable Goods Aug

1230 US GDP Final Q2

1230 US Initial Jobless Clm 20 Sep, w/e

1400 US Existing Home Sales Aug