SINGAPORE, Jan 25 (Reuters) - Chicago corn futures edged higher on Thursday, with the market trading close to its highest level in two weeks, supported by concerns over lower production in Brazil.

Soybeans inched higher, while wheat jumped to a two-week top as short-covering by investors drove gains in agricultural products.

FUNDAMENTALS

* The most-active corn contract on the Chicago Board of Trade (CBOT) was up 0.1% at $4.52-1/2 a bushel, as of 0133 GMT, not far from its highest since Jan. 12 at $4.52-3/4 a bushel reached earlier in the session.

* Soybeans gained 0.2% at $12.42-1/2 a bushel and wheat rose 0.5% to $6.14 a bushel, the highest since Jan. 11.

* Forecasters are expecting lower production from Brazil's second corn crop, reflecting a smaller planted area.

* Meanwhile, stressful heat is forecast for crop areas of Argentina, which has been on course for a bumper harvest.

* Commodity funds hold sizeable net short positions in CBOT corn, wheat and soybean futures, leaving all three markets primed for short-covering rallies.

* Commodity funds were net buyers of CBOT wheat, corn and soymeal futures contracts on Wednesday, traders said. The funds were net sellers of soyoil futures and net even in soybeans, they said.

* Strong domestic demand is tightening India's corn supplies, with the country's consumption of the animal feed ingredient seen growing by up to 2 million metric tons a year, a senior executive of global trading firm Louis Dreyfus said.

* In wheat, Russia's Sovecon agricultural consultancy raised its forecast of the country's 2024 wheat crop to 92.2 million tons, from 91.3 million in December, and now not far from the 92.8 million tons harvested in 2023.

MARKET NEWS

* MSCI's global equity index rose on Wednesday, hitting its highest level in almost two years, backed by positive earnings and economic data in both Europe and the United States as well as optimism China stimulus will support its stock markets.

DATA/EVENTS (GMT) 0745 France Business Climate Mfg, Overall Jan 0900 Germany Ifo Business Climate New Jan 0900 Germany Ifo Curr Conditions New Jan 0900 Germany Ifo Expectations New Jan 1315 EU ECB Refinancing, Deposit Rates Jan 1330 US Durable Goods Dec 1330 US GDP Advance Q4 1500 US New Home Sales-Units Dec 1515 EU ECB President Christine Lagarde presents the latest monetary policy decisions (Reporting by Naveen Thukral; Editing by Sherry Jacob-Phillips)