GRAINS-Corn edges higher, extends weather gains

SYDNEY, July 20 (Reuters) - U.S. corn edged higher for a third consecutive session on Thursday as forecasts for dry weather fueled fears of further crop damage.


* The most active corn futures on the Chicago Board Of Trade were up 0.1 percent to $3.96-3/4 a bushel, having gained 1.4 percent in the previous session.

* The most active soybean futures were unchanged at $10.12-1/2 a bushel, having firmed 1.1 percent on Wednesday.

* The most active wheat futures were down 0.4 percent to $5.01-1/4 a bushel, having closed down 0.1 percent on Wednesday. Wheat is on track to fall for a seventh straight session after rising sharply several weeks ago on weather fears.

* Corn crop condition ratings declined earlier this week in top-producing states of Iowa, Illinois and Nebraska, and extended outlooks for limited rainfall were seen as threatening to corn plants during their yield-setting pollination phase.

* The U.S. Department of Agriculture on Thursday will release weekly U.S. grain and soy export sales that will show whether global importers bought U.S. supplies during a volatile week of futures trading last week.


* The U.S. dollar rose against the euro on Wednesday a day after touching a more than one-year low, but it hit a more than three-week low against the yen as traders awaited meetings of the European Central Bank and the Bank of Japan.

* Oil prices jumped almost 2 percent to a six-week high on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories.

* The major U.S. stock indexes closed at record highs on Wednesday helped partly by technology stocks, which surpassed a long-standing mark, despite gains on the Dow being capped by a sharp drop in IBM shares.


Japan BOJ rate decision 0600 Germany Producer prices Monthly 0600 Germany Producer prices Yearly 0830 U.K. Retail sales Monthly 1230 U.S. Initial Jobless Claims Weekly 1230 U.S. Jobless claims 4-wk avg 1400 U.S. Leading Index chg Monthly

Grains prices at 0105 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 501.25 -1.75 -0.35% -0.50% 498.07 48 CBOT corn 396.75 0.50 +0.13% +1.54% 396.11 58 CBOT soy 1012.50 0.00 +0.00% +1.07% 967.04 61 CBOT rice 11.76 -$0.11 -0.88% -0.88% $11.74 56 WTI crude 47.17 $0.05 +0.11% +1.66% $45.11 66


Euro/dlr $1.153 $0.001 +0.10% -0.23% USD/AUD 0.7956 0.001 +0.09% +0.52%

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)