SYDNEY, Oct 15 (Reuters) - U.S. soybean futures edged lower on Tuesday, retreating from a 16-month high touched in the previous session, though the fall was checked by concerns of potential crop losses in a major North American producing region following adverse weather. FUNDAMENTALS * The most active soybean futures on the Chicago Board Of Trade were down 0.3% at $9.37-1/2 a bushel by 0004 GMT, having firmed 0.5% on Monday when prices hit a June 13, 2018 high of $9.46 a bushel. * The most active corn futures were down 0.2% to $3.97 a bushel, having closed unchanged in the previous session after earlier hitting a Aug 12 high of $4.03 a bushel. * The most active wheat futures were down 0.4% at $5.08-3/4 a bushel, having closed up 0.2% on Monday when prices hit a July 19 high $5.15 a bushel. * Market awaits news about potential crop damage following cold weather over the U.S. Midwest in recent days. * The U.S. Department of Agriculture (USDA) in a monthly report last week cut its forecasts of U.S. 2019/20 soybean production and ending stocks more than most analysts expected. * The government projected that stocks would fall to 460 million bushels by end-August 2020, from 913 million bushels a year earlier. * At the same time, the USDA raised its U.S. corn yield estimate, bucking trade expectations for a reduction. MARKET NEWS * The U.S. dollar rose on Monday, after two days of losses, attracting safe-haven bids, as optimism waned about a trade deal between the United States and China, and investors fretted about the ongoing twists and turns on Britain's exit from the European Union. * Oil prices lost about 2% on Monday on worries that global crude demand could stay under pressure as few details about the first phase of a U.S.-China trade deal did little to assure a quick resolution to the tariff fight. * Wall Street edged lower on Monday as uncertainties following recent U.S.-China trade negotiations clouded sentiment and investors turned their focus on the third-quarter earnings season, which begins in earnest on Tuesday. DATA/EVENTS AHEAD (GMT) 0130 China PPI YY Sept 0130 China CPI YY Sept 0400 Indonesia Trade Balance Sept 0645 France CPI (EU Norm) Final MM, YY Sept 0830 UK Claimant Count Unemployment Change Sept 0830 UK ILO Unemployment Rate Aug 0830 UK Bank of England publishes record of October Financial Policy Committee meeting 0900 Germany ZEW Economic Sentiment Oct 0900 Germany ZEW Current Conditions Oct 1800 EU Reserve Assets Total Sept Grains prices at 0004 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 508.75 -2.25 -0.44% +3.19% 485.21 67 CBOT corn 397.00 -0.75 -0.19% +4.40% 375.41 64 CBOT soy 937.50 -3.00 -0.32% +1.52% 896.11 77 CBOT rice 11.99 $0.00 +0.00% -0.42% $12.02 58 WTI crude 53.44 -$0.15 -0.28% -2.30% $55.67 45 Currencies Euro/dlr $1.102 $0.000 -0.05% -0.15% USD/AUD 0.6770 0.000 -0.06% -0.25% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham; Editing by Rashmi Aich)
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