SYDNEY, Dec 19 (Reuters) - U.S. soybeans fell on Thursday, retreating from a one-month high touched earlier in the week, but continued optimism from the 'phase one' of U.S.-China trade deal capped losses.
* The most active soybean futures on the Chicago Board Of Trade were down 0.2% at $9.26-3/4 a bushel by 0233 GMT, having closed little changed on Wednesday.
* The most active corn futures were up 0.2% at $3.87-3/4 a bushel, after closing down 0.8% in the previous session.
* The most active wheat futures were little changed at $5.48 a bushel, after ending 1.4% lower on Wednesday.
* The long-awaited U.S.-China 'phase-one' agreement agreed upon by the two sides last week includes a commitment by Beijing to expand purchases of U.S. farm products.
* But traders said they were wary about projections from Washington that deals will reach $40 billion to $50 billion within two years, compared with $24 billion before the trade dispute.
* Chinese importers bought at least two cargoes of U.S. soybeans after receiving another round of tariff-free quota for U.S. shipments on Tuesday, traders in both countries said.
* Profit-taking added pressure to the markets after the recent gains, traders said. Futures also ran into technical resistance on price charts following gains fuelled by investment fund flows, they said.
* The dollar took in stride the impeachment of U.S. President Donald Trump on Thursday while its Australian counterpart rallied after a surprise fall in the country's unemployment rate.
* Oil prices steadied on Wednesday after U.S. government data showed a decline in crude inventories and on expectations for an uptick in demand next year on the back of progress in resolving the U.S.-China trade fight.
* The S&P 500 ended a five-day winning streak on Wednesday as investors' optimism about global economic growth was countered by a steep drop in FedEx Corp shares, but the benchmark index managed to hover near all-time highs. (Reporting by Colin Packham; Editing by Rashmi Aich)