SYDNEY, March 26 (Reuters) - U.S. wheat futures fell more than 1% on Thursday, retreating from a two-month high as traders booked profits after a sharp price rally sparked by worries the coronavirus pandemic could disrupt supplies.
* The most active wheat futures on the Chicago Board Of Trade were down 1.2% at $5.73-1/4 a bushel by 0055 GMT, having closed up 3.3% on Wednesday when prices hit the highest since Jan. 21 at $5.83-1/4 a bushel.
* The most active soybean futures were down 0.4% at $8.78-1/2 a bushel, having closed down 0.6% on Wednesday.
* The most active corn futures were down 0.8% at $3.45-3/4 a bushel, having gained 0.4% in the previous session.
* Wheat had drawn support as consumers rushed to buy staples such as bread.
* The U.S. Department of Agriculture said private exporters sold 138,000 tonnes of U.S. corn to unknown destinations.
* Worries about potential disruptions of supplies from South America due to coronavirus measures underpinned the soybean market.
* Soybean deliveries to crushing plants have been severely cut in Argentina, the world’s top supplier of soymeal livestock feed, as the country reacts to the coronavirus pandemic, the local grains export industry chamber said on Tuesday.
* The dollar fell against the yen on Thursday before data expected to show a surge in U.S. claims for unemployment benefits as companies lay off workers due to the rapid spread of the coronavirus.
* Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.
* The S&P 500 rallied for a second straight session on Wednesday as the U.S. Senate appeared near a vote on a $2 trillion package to support businesses and households devastated by the coronavirus pandemic.
Reporting by Colin Packham; editing by Richard Pullin