GRAINS-Soybeans fall for second session on lack of Chinese buying

SINGAPORE, Nov 5 (Reuters) - Chicago soybean futures lost more ground on Wednesday, with the market facing headwinds amid a lack of news on Chinese buying of U.S. cargoes despite last week's trade truce between the two countries.

Corn and wheat also fell as broad market declines in crude oil and Wall Street equities added to the bearish sentiment.

FUNDAMENTALS

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 fell 0.1% to $11.20 a bushel, as of 0103 GMT. Corn Cv1 lost 0.2% to $4.30-3/4 a bushel and wheat Wv1 gave up 0.1% to $5.49-1/2 a bushel.

The White House has said China will buy millions of metric tons of U.S. soybeans under last week's agreement to de-escalate the countries' trade war, with Washington specifying an initial volume of 12 million tons should be booked by the end of December.

However, traders have yet to confirm large purchases of U.S. supplies, while on Monday market sources said Chinese soybean importers have stepped up purchases of cheaper Brazilian cargoes.

The U.S. government remains largely shut down, halting the U.S. Department of Agriculture's flash export sales reports.

Corn futures were pressured by brokerage StoneX raising its forecast of the U.S. corn yield slightly, a move that countered recent expectations of declining yield potential.

S&P Global Commodity Insights on Tuesday left its estimate of the average U.S. 2025 corn yield unchanged at 185.5 bushels per acre, but the firm raised its estimates of corn harvested area and production.

In news, European Union soft wheat exports so far this season as reported by the European Commission jumped by almost 1.8 million metric tons last week as the figures incorporated a chunk of missing data for top EU wheat producer France.

MARKET NEWS

Major stock indexes dropped on Tuesday, with chip stocks lower as the CEOs of Goldman Sachs GS.N and Morgan Stanley MS.N cautioned that equities could be heading for a pullback, while the dollar climbed to a four-month high against the euro. MKTS/GLOB

DATA/EVENTS (GMT)

0145 China RatingDog Services PMI Oct

0700 Germany Industrial Orders MM Sep

0700 Germany Manufacturing O/P Cur Price SA Sep

0700 Germany Consumer Goods SA Sep

0850 France HCOB Services, Composite PMI Oct

0855 Germany HCOB Services, Composite Final PMI Oct

0900 EU HCOB Services, Composite Final PMI Oct

0930 UK S&P GLOBAL PMI: COMPOSITE - OUTPUT Oct

0930 UK Reserve Assets Total Oct

1400 US ISM N-Mfg PMI Oct

1445 US S&P Global Comp, Svcs PMI Final Oct