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GRAINS-Wheat prices edge up as adverse weather could hit U.S. crops

SYDNEY, June 5 (Reuters) - U.S. wheat prices edged higher on Monday, supported by worries over adverse weather across key U.S. growing regions.

FUNDAMENTALS

* The most active wheat futures on the Chicago Board of Trade climbed 0.2 percent to $4.30-1/4 a bushel, having closed up 0.1 percent on Friday.

* The most active soybean futures rose 0.2 percent to $9.23-1/4

* The most active corn futures advanced 0.3 percent to $3.73-3/4 a bushel, having firmed 1 percent on Friday

* Wheat was supported by forecasts of warm and dry weather in the northern U.S. Plains, potentially stressing newly planted spring wheat, and as excessive rains have swamped fields in the southern Plains and the Midwest.

* The U.S. Department of Agriculture this week rated 62 percent of the U.S. spring wheat crop as good to excellent, down significantly from 79 percent a year earlier.

* Weekly USDA export sales data for soybeans came in above trade expectations, and the government through its daily reporting system said private exporters sold 200,000 tonnes of U.S. soybeans to Spain, which has struggled with drought.

MARKET NEWS

* The dollar nursed losses on Monday, coming close to a seven-month low against a currency basket plumbed after disappointing U.S. employment data prompted investors to pare back their expectations of future U.S. Federal Reserve rate hikes.

* Oil markets were subdued on Monday, with Brent struggling to maintain $50 per barrel as efforts led by OPEC to tighten the market were undermined by persistently rising U.S. production.

Grains prices at 0059 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 430.25 0.75 +0.17% +0.29% 432.99 54 CBOT corn 373.75 1.00 +0.27% +0.88% 370.29 55 CBOT soy 923.25 2.00 +0.22% +1.21% 954.20 38 CBOT rice 11.15 $0.02 +0.22% +0.13% $10.37 68 WTI crude 47.70 $0.04 +0.08% -1.36% $48.61 34

Currencies

Euro/dlr $1.127 -$0.001 -0.08% +0.54% USD/AUD 0.7425 -0.002 -0.22% +0.72%

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

(Reporting by Colin Packham; Editing by Joseph Radford)