23.01.2020 (Successful Farming) - * Wheat still supported by export demand and Russian, French risks

* Corn steady, soybeans eases to new one-month low

* Lack of Chinese buying of U.S. crops keeps markets cautious (Updates with European trading, changes byline/dateline)

By Gus Trompiz and Colin Packham

 PARIS/SYDNEY, Jan 23 (Reuters) - Chicago wheat futures edged higher on Thursday to hold near an 18-month high, underpinned by strong overseas demand, rising export prices and potential supply snags.

Chicago corn inched up while soybeans eased to a new one-month low as traders awaited signs of Chinese purchases of U.S. crops in the wake of this month's trade agreement between Washington and Beijing.

Investor wariness about the spread of a coronavirus outbreak that has killed 17 people in China and been detected in some other countries, also kept grain markets subdued.

The most-active wheat futures on the Chicago Board of Trade were up 0.5% at $5.80-1/2 a bushel by 1247 GMT. In the previous session, it reached its highest since Aug. 2, 2018, at $5.92-1/2.

CBOT corn added 0.2% to $3.89-1/2 a bushel and soybeans fell 0.5% to $9.09-1/2, just off a near six-week low of $9.09 earlier in the session.

"Grain markets are mixed this morning as traders wait for signs of new Chinese demand," U.S. brokerage Allendale said.

Last week's conclusion of a first-stage trade agreement between Beijing and Washington, including commitments by China to increase imports of U.S. farm goods, had raised the prospect of extra Chinese purchases of soybeans and cereals.

But a lack of confirmation of large new Chinese purchases has added to doubts created by Beijing's caveat that buying of U.S. agricultural products would depend on market conditions.

A pullback in Malaysian palm oil futures, after a sharp rebound on Wednesday, was also capping other oilseed markets like soybeans.

U.S. corn and soybean markets were monitoring harvest prospects in South America, where rains this month have alleviated dryness in some zones.

Wheat continued to be supported by brisk demand from importers as well as concern that Russian proposals to cap grain exports and strike disruption in France could exacerbate tightening global supply.

Prices in Chicago and Paris touched their highest in over a year on Wednesday before easing back, while Russian export prices last week set season highs.

"Wheat prices ran out of steam shortly before reaching important thresholds yesterday," Commerzbank analysts said.

"However, there is no reason why they shouldn't undertake a renewed bid to reach these thresholds."