FUNDAMENTALS
* The most active wheat futures on the Chicago Board of Trade were up 0.3 percent at $5.07-3/4 a bushel by 0140 GMT. They closed down 1.5 percent on Tuesday, after hitting their lowest since Nov. 20 at $5.04 a bushel.
* The most active soybean futures were unchanged at $8.75-1/2 a bushel, having firmed 1.5 percent on Tuesday.
* The most active corn futures were down 0.1 percent at $3.76-1/4 a bushel, after gaining 0.1 percent in the previous session.
* Soybeans prices remain under pressure as the U.S.-China trade war shows little sign of abating.
* The focus in soy markets was on the G20 summit in Argentina this week, where U.S. President Donald Trump is expected to meet with China's Xi Jinping for the first time since the world's two largest economies imposed tariffs on each other's imports.
* Trump is prepared to hike tariffs on Chinese imports if there is no breakthrough, White House economic adviser Larry Kudlow said.
* Trump said on Tuesday he may cancel his scheduled meeting with Russian President Vladimir Putin at the summit because of Russia's maritime clash with Ukraine, which has stoked fears that Black Sea shipments could be impeded.
* SovEcon, a Russian agricultural consultancy, raised its forecast of Russia's 2018/19 wheat exports to 34.7 million tonnes, from 34.2 million previously. Russia is the world's top wheat exporter.
MARKET NEWS
* The U.S. dollar hit two-week highs on Tuesday after Federal Reserve Vice Chair Richard Clarida backed further interest rate hikes, taking a less dovish stance than some investors had anticipated.
* Oil prices rose on Wednesday ahead of an OPEC meeting next week at which the producer club is expected to decide some form of supply cut to counter an emerging glut.
* The S&P 500 and the Dow Jones Industrial Average edged higher on Tuesday.