GRAINS-Soybeans extend fall as traders eye USDA report, China demand falters

BEIJING, Sept 11 (Reuters) - Chicago soybeans extended losses to a third straight session on Thursday, as traders squared positions ahead of a key U.S. supply and demand report, and an absence of demand from China added pressure.

Corn and wheat firmed after two sessions of declines.

FUNDAMENTALS

* As of 0101 GMT, the most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 lost 0.07% to $10.24-4/8 per bushel, hovering near a one-month low.

* Wheat Wv1 rose 0.15% to $5.15-6/8 a bushel, while corn Cv1 added 0.24% to $4.18 a bushel.

* The U.S. Department of Agriculture's (USDA) global supply and demand estimates report is due on Friday, and analysts expect cuts to U.S. soybean and corn yield forecasts.

* U.S. farmers are missing out on billions of dollars in soybean sales to China halfway through their prime marketing season, as stalled trade talks halted exports and rival South American suppliers stepped in to fill the gap.

* Meanwhile, adequate global wheat stocks from Australia to Russia continue to cap price gains.

* Argentina could report a record corn production in the 2025-26 season as farmers shift away from soybeans and other crops, the Rosario grains exchange said on Wednesday.

* The exchange also lowered its forecast for 2025-26 soybean plantings by 7% year-on-year.

* Commodity funds were net sellers of CBOT soybeans, soymeal, corn, wheat futures on Wednesday, traders said. COMFUND/CBT

MARKET NEWS

* The U.S. dollar was narrowly mixed on Wednesday, with no definitive direction, after data showed producer prices fell unexpectedly in August, cementing hopes that the Federal Reserve will resume cutting interest rates later this month. FRX/

DATA/EVENTS (GMT)

1215 EU ECB Refinancing Rate, Deposit Rate Sep

1230 US Core CPI MM SA, YY NSA Aug

1230 US CPI MM SA, YY NSA Aug

1230 US CPI Wage Earner Aug

1230 US Initial Jobless Clm 6 Sep, w/e