CANBERRA, Sept 16 (Reuters) - U.S. wheat futures edged higher on Thursday as concerns about global supplies kept prices near an eight-day high hit in the previous session.
FUNDAMENTALS
* The most-active wheat futures on the Chicago Board of Trade were up 0.1% at $7.13-1/4 a bushel by 0133 GMT, having closed 1.6% higher on Wednesday when prices hit a Sept. 8 high of $7.14-3/4 a bushel.
* Soybean futures inched 0.3% higher to $12.98-1/4 a bushel, having closed up 0.9% on Wednesday.
* Corn futures rose 0.4% to $5.35-3/4 a bushel, having gained 2.5% in the previous session.
* Russian farmers are expected to sow less winter wheat this autumn than record levels seen a year ago due to unfavourable weather conditions, a switch to oilseeds in some regions and concerns about the country's grain export tax, analysts said.
* The U.S. Department of Agriculture reported two soybean sales cancellations, including 132,000 tonnes from China and 196,000 tonnes from unknown destinations.
MARKET NEWS
* Oil prices slipped on Thursday, but kept most of the previous day's gains after a larger-than-expected drawdown in crude oil stocks in the United States, the world's largest oil consumer.
(Reporting by Colin Packham; editing by Uttaresh.V)
