April 5 (Reuters) - Chicago wheat futures dipped in Asian trading on Wednesday, extending losses from the previous session, as an improving weather outlook offset worries about poor U.S. winter crop conditions, while soybeans and corn were slightly firmer.

FUNDAMENTALS

* The most-active wheat contract on the Chicago Board of Trade (CBOT) was down 0.5% at $6.88-1/4 a bushel, as of 0324 GMT. Soybeans gained 0.3% to $15.21-3/4 a bushel, while corn edged up 0.1% to $6.54-1/4 a bushel.

* The U.S. Department of Agriculture (USDA) in its first weekly crop progress report of the 2023 growing season rated 28% of U.S. winter wheat in "good-to-excellent" condition, the lowest score for the time of year in records dating to 1989.

* However, improving weather forecasts eased concerns about planting in the United States, with a turn to warmer and drier conditions later this week projected following blizzard warnings on Tuesday across most of the northern Plains spring wheat belt.

* The USDA also said the U.S. corn crop was 2% planted by Sunday, in line with trade expectations and the five-year average.

* Argentina is set to lose its status as the world's top exporter of processed soy meal due to the toll of historic drought on the country's main cash crop, a major exchange said on Tuesday.

* Commodity funds were net sellers of Chicago Board of Trade soybeans, soymeal, corn, soyoil, and wheat futures contracts on Tuesday, traders said.

MARKET NEWS

* Stocks struggled to make headway on Wednesday, the dollar nursed losses and bonds clung to gains, as signs of a slowing U.S. labour market made investors nervous about the economic outlook, while a bigger-than-expected rate hike lifted the kiwi dollar.

DATA/EVENTS (GMT)

0600 Germany Industrial Orders MM Feb

0600 Germany Manufacturing O/P Cur Price SA Feb

0600 Germany Consumer Goods SA Feb

0750 France S&P Global Serv, Comp PMIs March

0755 Germany S&P Global Serv PMI March

0755 Germany S&P Global Comp Final PMI March

0800 EU S&P Global Serv, Comp Final PMIs March

0830 UK Composite PMI Final March

0830 UK Reserve Assets Total March

1230 US International Trade Feb

1345 US S&P Global Serv, Comp Final PMIs March

1400 US ISM N-Mfg PMI March

(Reporting by Enrico Dela Cruz in Manila)