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GRAINS-Soybeans firm as USDA pegs crop condition below forecasts

SYDNEY, June 27 (Reuters) - U.S. soybeans rose nearly 0.5 percent on Tuesday, extending gains into a third consecutive session, after the U.S. Department of Agriculture pegged the condition of the crop below market expectations.

FUNDAMENTALS

* The most active soybean futures on Chicago Board Of Trade rose 0.44 percent to $9.10-3/4 a bushel, having firmed 0.25 percent on Monday.

* The most active corn rose 0.3 percent to $3.60 a bushel, having gained 0.35 percent in the previous session.

* The most active wheat rose 0.16 percent to $4.66-1/4 a bushel, having closed down 1.6 percent on Monday.

* The USDA rated 67 percent of the U.S. corn crop in good to excellent condition, unchanged from the prior week, but below analysts' expectations.

* Soybean ratings fell, with 66 percent of the crop rated good to excellent, down from 67 percent a week earlier and behind market forecasts.

* The USDA said 40 percent of the spring wheat crop was in good to excellent, slightly below market expectations.

* Rains forecast across key U.S. corn and soybean growing regions, aiding crops.

MARKET NEWS

* The dollar stood tall on Tuesday, pushing to a one-month high against the yen as investors waited to see if Federal Reserve Chair Janet Yellen would stick to her positive economic outlook at an event later in the global session.

* Crude oil futures were largely unchanged in early Asian trade on Tuesday as the market took a breather following three days of gains with a supply glut keeping a lid on prices.

* The S&P 500 and the Dow closed up slightly on Monday but a fall in technology stocks nudged the Nasdaq lower as investors turned to more defensive sectors.

DATA (GMT)

1300 US S&P/Case-Shiller home price index April 1400 US Richmond Fed manufacturing index June 1400 US Consumer confidence index June

Grains prices at 0115 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 466.25 0.75 +0.16% -1.89% 457.72 46 CBOT corn 360.00 1.00 +0.28% +0.63% 372.67 30 CBOT soy 910.75 4.00 +0.44% +0.69% 932.21 31 CBOT rice 11.19 $0.01 +0.04% +0.72% $11.11 47 WTI crude 43.35 -$0.03 -0.07% +0.79% $46.85 36

Currencies

Euro/dlr $1.118 $0.000 +0.04% -0.08% USD/AUD 0.7583 0.000 +0.01% +0.24%

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)