GRAINS-Wheat prices firm as US pegs crop condition below market forecasts

SYDNEY, June 6 (Reuters) - U.S. wheat futures edged up on Tuesday as the U.S. Department of Agriculture pegged the condition of the domestic crop below market expectations, stoking fears of production losses following recent adverse weather.


* The most active wheat futures on the Chicago Board of Trade rose 0.35 percent to $4.31 a bushel, having closed little changed on Monday.

* The most active soybean futures were steady at $9.22-1/2 a bushel, having firmed nearly 0.1 percent on Monday.

* The most active corn futures fell 0.27 percent to $3.72 a bushel, after gaining nearly 0.1 percent in the previous session.

* The USDA rated 55 percent of the U.S. spring wheat crop in good-to-excellent condition, down from 62 percent a week earlier.

* Analysts surveyed by Reuters had expected a drop of 1 percentage point, to 61 percent good-to-excellent.

* Minneapolis Grain Exchange spring wheat futures also climbed on weather worries at a time when traders are concerned about supplies of high-protein wheat.

* The wheat harvest was 10 percent complete by Sunday, the USDA said.

* The U.S. soybean crop was 83 percent planted as of Sunday, ahead of the five-year average of 79 percent, according to the USDA.

* The government rated 68 percent of the U.S. corn crop as good-to-excellent, up from 65 percent a week earlier and above an average of analyst expectations of 67 percent.


* The dollar steadied against a basket of currencies on Monday, recovering from near a seven-month low hit on Friday, as investors turned their focus to this week's impending European Central Bank meeting and a parliamentary election in Britain.

* Oil prices fell nearly 1 percent on Monday on concerns that the cutting of ties with Qatar by top crude exporter Saudi Arabia and other Arab states could hamper a global deal to reduce oil production.

* Stocks dipped on Wall Street on Monday as a drop in Apple partly offset gains in energy and financial stocks, some of the market's worst-performing sectors so far this year.


0830 Euro zone Sentix index Jun 0900 Euro zone Retail sales Apr

Grains prices at 0117 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 431.00 1.50 +0.35% +0.35% 433.36 56 CBOT corn 372.00 -1.00 -0.27% -0.20% 370.48 54 CBOT soy 922.00 0.00 +0.00% +0.08% 952.50 36 CBOT rice 11.05 $0.00 +0.00% -0.67% $10.44 62 WTI crude 47.14 -$0.26 -0.55% -1.09% $48.53 29


Euro/dlr $1.127 $0.002 +0.15% -0.10% USD/AUD 0.7481 0.000 -0.03% +0.54%

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)