SINGAPORE, April 24 (Reuters) - Chicago wheat slid for the first time in five sessions on Wednesday, with prices falling from a two-month high reached in the last session, although losses were limited by worries over adverse weather in key northern hemisphere exporters.

Corn ticked lower, while soybeans were largely unchanged.

FUNDAMENTALS

* The most-active wheat contract on the Chicago Board of Trade (CBOT) lost 0.5% to $6.00 a bushel, as of 0016 GMT, having climbed to its highest since mid-February at $6.03-1/2 a bushel on Tuesday.

* Corn fell 0.1% to $4.52-1/4 a bushel and soybeans added a quarter of a cent to $11.82-1/4 a bushel.

* The wheat market is giving up some of its recent gains, which were driven by a decline in U.S. crop ratings and dryness impacting maturing crops in Russia.

* The U.S. Department of Agriculture's (USDA) weekly crop progress report showed 50% of U.S. winter wheat crop in good-to-excellent condition, down from 55% a week earlier and 4 percentage points short of the average estimate of analysts polled by Reuters.

* The bigger-than-expected drop came after dry weather hit hard red winter wheat producing areas of Oklahoma and Kansas.

* Dry weather in southern Russia and a cold spell in western Europe added to worries.

* Argus Media has cut its forecast for wheat output this year in Ukraine, a leading exporter of the grain, to 19.93 million metric tons, down some 230,000 tons from previously and 11% below the year before due to a lower planted area.

* The U.S. corn planting pace is a little better than expected, but heavy rains in the central portion of the country could delay progress later in the week, analysts said.

* The USDA estimated that 12% of corn had been planted as of Sunday, in-line with analyst estimates, and 8% of soybeans, slightly ahead of an average analyst forecast of 7%.

* Commodity funds were net buyers of CBOT wheat, soybean, corn, soyoil and soymeal futures contracts on Tuesday, traders said.

MARKET NEWS

* Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the U.S. megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

DATA/EVENTS (GMT) 0800 Germany Ifo Business Climate New April 0800 Germany Ifo Curr Conditions New April 0800 Germany Ifo Expectations New April 1000 UK CBI Business Optimism Q2 1230 US Durable Goods March (Reporting by Naveen Thukral; Editing by Subhranshu Sahu)