SINGAPORE, April 4 (Reuters) - Chicago soybean futures lost more ground on Friday, with the market heading for its biggest weekly drop in more than a month amid fears of potential retaliation by top importer China against U.S. tariffs. Corn and wheat futures edged higher.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 fell 0.2% to $10.10 a bushel as of 0008 GMT. Corn Cv1 rose 0.3% to $4.58-3/4 a bushel and wheat Wv1 added 0.5% to $5.38-3/4 a bushel.

* For the week, soybeans are down 1.2%, the most since late February, corn has added 1.2% and wheat has risen almost 2%.

* President Donald Trump on Wednesday announced a 10% baseline tariff on most imports to the U.S., with higher duties on dozens of trading partners, including China and the European Union.

* Economists said Trump's levies could prove relatively advantageous for Brazil, which is the world's biggest soybean exporter and competes with the U.S. for soy sales to China.

* The plan sent U.S. equities and oil prices falling as investors feared a global recession, while grain traders saw scope for disruption to U.S. agricultural exports, particularly soybean shipments to China.

* However, some traders were relieved that Mexico was excluded from Trump's sweeping new tariffs, as it is the biggest export market for U.S. corn. They also took comfort that Trump did not set a higher baseline tariff level.

* Commodity funds were net sellers of CBOT soybean and soyoil futures contracts on Thursday and net buyers of corn, wheat and soymeal futures, traders said. COMFUND/CBT

MARKETS

* Major U.S. stock indexes registered their biggest daily percentage drops since 2020 on Thursday and the dollar weakened as U.S. President Donald Trump's drastic trade tariffs stoked fears of a global recession and led investors to seek safe-haven assets like bonds and the yen. MKTS/GLOB

DATA/EVENTS $(GMT.NZ)$

0600 Germany Industrial Orders MM Feb

0600 Germany Manufacturing O/P Cur Price SA Feb

0600 Germany Consumer Goods SA Feb

0830 UK S&P GLOBAL PMI: MSC COMPOSITE - OUTPUT

1230 US Non-Farm Payrolls Mar

1230 US Unemployment Rate Mar

1230 US Average Earnings YY Mar

(Reporting by Naveen Thukral; Editing by Alan Barona)

((naveen.thukral@thomsonreuters.com; +65-6870-3829; Reuters Messaging: naveen.thukral.thomsonreuters.com@reuters.net))