CORRECTED-GRAINS-Soybeans little changed as China's absence caps gains

SINGAPORE, Nov 13 (Reuters) - Chicago soybeans were prevented from making major moves on Thursday, after rising in the last session on expectations of lower U.S. yields, with the absence of Chinese purchases limiting gains.

Wheat was flat, while corn ticked lower.

FUNDAMENTALS

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 fell quarter of a cent to $11.33-1/2 a bushel as of 0105 GMT, having gained on Wednesday. Corn Cv1 fell 0.1% to $4.34-3/4 a bushel and wheat Wv1 was unchanged at $5.52-1/2 a bushel.

The U.S. Department of Agriculture (USDA) is due to release its data on global supply and demand of farm products on Friday, the first update in weeks.

A Reuters poll of analysts projected that the USDA will lower its U.S. corn yield estimate to 184.0 bushels per acre (bpa) from 186.7 bpa in its previous September 12 forecast and pegged the U.S. soybean yield at 53.1 bpa, down from 53.5 bpa previously.

China has made only modest U.S. agricultural purchases since the leaders of the two countries met last month, with a mounting glut of soybeans likely to limit its ability to make purchases.

In news likely to limit gains in wheat prices, Argentina's 2025-26 wheat crop is now projected to hit a record high, the Rosario Grains Exchange said, citing stronger yields during the ongoing harvest.

The exchange raised its output forecast to 24.5 million metric tons, a hike of 1.5 million tons from last month's estimate.

MARKET NEWS

MSCI's global equities index rose slightly, U.S. Treasury yields fell and Wall Street indexes were mixed, while investors waited for U.S. Congress to end the federal shutdown and provide greater clarity on the health of the U.S. economy. MKTS/GLOB

DATA/EVENTS (GMT)

0700 UK GDP Est 3M/3M Sep

0700 UK GDP Estimate MM, YY Sep

0700 UK Services MM, YY Sep

0700 UK Manufacturing Output MM Sep

0700 UK GDP Prelim QQ, YY Q3

1330 US Initial Jobless Clm 8 Nov, w/e