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GRAINS-Soybeans fall, hit 13-month low as South American production weighs

SYDNEY, May 30 (Reuters) - U.S. soybeans fell on Tuesday to hit a fresh 13-month low as aggressive selling of record South American production pushed the oilseed towards a third consecutive daily loss.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade fell 0.3 percent to $9.24 a bushel by 0127 GMT, near the session low of $9.23 3/4 a bushel - the lowest since April 2016. Soybeans closed down 1.4 percent on Friday.

* The most active corn fell 0.5 percent to $3.72-1/4 a bushel, having gained 1.4 percent in the previous session.

* The most active wheat fell 0.3 percent to $4.37 a bushel, having closed up 1.7 percent on Friday.

* Record South American soybean production weighs on prices, with Brazilian farmers looking to accelerate sales after a drop in the local currency.

* Wheat draws some support from recent wet weather across key growing regions, which may damage maturing crops.

MARKET NEWS

* Brazilian farmers are rushing to sell soybeans after a 7 percent drop in the real currency made their supplies more affordable than exports from the United States.

* U.S. crude oil prices rose towards $50 per barrel on Tuesday as a strong start to the summer driving season in the United States suggested strong fuel demand in months ahead.

* U.S. stocks ended little changed on Friday ahead of the long holiday weekend, though indexes ended a two-week streak of losses and consumer shares were strong for a second day.

DATA AHEAD (GMT)

0530 France Detailed GDP Q1 0600 Germany Import prices Apr 0645 France Consumer confidence May 0645 France Consumer spending Apr 0900 Euro zone Business climate May 1200 Germany Consumer prices May 1230 U.S. Personal income Apr 1300 U.S. S&P/Case-Shiller housing index Mar 1400 U.S. Consumer confidence May

Grains prices at 0127 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 437.00 -1.25 -0.29% +1.45% 433.30 64 CBOT corn 372.25 -2.00 -0.53% +0.81% 369.61 56 CBOT soy 924.00 -2.50 -0.27% -1.65% 960.02 26 CBOT rice 10.91 -$0.06 -0.59% -0.18% $10.28 61 WTI crude 49.87 $0.07 +0.14% +1.98% $48.97 54

Currencies

Euro/dlr $1.113 -$0.003 -0.30% -0.47% USD/AUD 0.7427 -0.001 -0.12% -0.26%

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

(Reporting by Colin Packham; Editing by Richard Pullin)