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GRAINS-Soybeans rebound from 2-wk low, global supplies cap gains

SYDNEY, May 15 (Reuters) - U.S. soybeans edged higher on Monday, rebounding from a two-week low touched in the previous session, although forecasts for ample global supplies kept the gains in check.

FUNDAMENTALS

* The most active Chicago Board Of Trade March soybeans rose 0.31 percent to $9.66 a bushel, having closed down 0.34 percent on Friday when prices hit a low of $$9.60-1/2 a bushel - the lowest since May 1.

* The most active corn little changed at $3.70-3/4 a bushel, having gained 0.5 percent in the previous session.

* The most active wheat fell 0.7 percent to $4.29-3/4 a bushel, having closed down 0.2 percent on Friday.

* Forecasts for dry weather across key U.S. growing regions should allow farmers to finish sowing.

* Informa Economics lowered its projection of U.S. 2017 corn plantings to 89.7 million acres, trade sources said, below the U.S. Department of Agriculture's March 31 figure of 90.0 million acres.

* Informa raised its forecast of U.S. 2017 soybean plantings to 89.662 million acres, above the USDA's March figure of 89.5 million acres.

* Brazil's statistics agency Conab on Thursday raised its estimate of the country's 2016-17 crop to a record of 113 million tonnes, from 110.2 million last month.

MARKET NEWS The dollar started the week on the defensive on Monday, after U.S. economic data came in shy of expectations and another missile test by North Korea over the weekend underpinned the perceived safe-haven yen.

* Oil prices held steady on Monday, supported by expectations that OPEC and Russia have agreed to extend a production cut beyond the first half of this year.

DATA AHEAD (GMT)

0200 China Industrial output Apr 0200 China Retail sales Apr 0200 China Urban investment Apr 1230 U.S. New York Fed manufacturing May 1400 U.S. NAHB housing market index May

Grains prices at 0131 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 429.75 -3.00 -0.69% -0.92% 437.88 56 CBOT corn 370.75 -0.25 -0.07% +0.41% 370.01 61 CBOT soy 966.00 3.00 +0.31% -0.03% 961.83 61 CBOT rice 10.45 $0.04 +0.38% -1.79% $10.13 76 WTI crude 47.88 $0.04 +0.08% +0.10% $49.68 51

Currencies

Euro/dlr $1.093 $0.000 -0.02% +0.60% USD/AUD 0.7393 0.001 +0.11% +0.23%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Colin Packham; Editing by Amrutha Gayathri)