GRAINS-Wheat ticks up after losses; soybeans under pressure

SINGAPORE, March 5 (Reuters) - Chicago wheat rose on Thursday, recouping some of last session's losses, although ample global supplies and improved U.S. weather are likely to cap the upside potential in prices.

Soybeans were largely unchanged, with the market torn between support from rising oil prices and pressure from a lack of Chinese demand.

FUNDAMENTALS

The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 added 0.3% to $5.69-1/2 a bushel as of 0115 GMT, having closed down 1% on Wednesday.

Soybeans Sv1 rose a quarter of a cent to $11.69-3/4 a bushel and corn Cv1 gained 0.1% to $4.44 a bushel.

Rains across the U.S. winter wheat belt and parts of the U.S. Midwest are providing ideal weather for the wheat crop as it emerges from dormancy, boosting crop production prospects in an amply supplied global market.

Uncertainty over further Chinese demand for U.S. soybeans is weighing on prices, as many market players are sceptical that China will make additional purchases of U.S. beans amid Brazil's bumper harvest.

Soybeans climbed to their highest since mid June earlier this week, buoyed by higher oil prices and an escalating Middle East conflict.

The corn market remained underpinned by brisk U.S. exports. The U.S. Department of Agriculture confirmed private sales of 196,000 metric tons of U.S. corn for shipment to unknown destinations in the 2025/26 marketing year.

MARKET NEWS

U.S. and European equities rose on Wednesday, as oil prices took a breather after their dramatic two-day rally and a surge in cryptocurrencies encouraged investors to take on risk while cautiously monitoring the Middle East war. MKTS/GLOB

DATA/EVENTS

0930 UK S&P GLOBAL PMI: MSC COMPOSITE - OUTPUT Feb

1330 US Import Prices YY Jan

1330 US Initial Jobless Clm 28 Feb, w/e