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GRAINS-Soybeans steady after sharp fall to one-month low

U.S. soybeans steadied on Wednesday after a sharp fall in the previous session to a one-month low as fears of production losses eased.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade edged up 0.1 percent to $9.73 a bushel by 0101 GMT, having closed down 3.5 percent on Tuesday when prices hit a low of $9.69-3/4 a bushel - the lowest since July 3.

* The most active corn futures rose 0.5 percent to $3.78-1/4 a bushel, having closed down 2.1 percent in the previous session when prices hit a low of $3.75-3/4 a bushel - the lowest since June 30.

* The most active wheat futures were up 0.3 percent to $4.62-1/2 a bushel after closing down 2.8 percent on Tuesday when prices hit a low of $4.60-1/2 a bushel - the lowest since June 22.

* U.S. Department of Agriculture late Monday rated 59 percent of the U.S. soy crop in good to excellent condition, up from 57 percent a week earlier. Analysts surveyed by Reuters on average had expected no change.

* INTL FCStone projected U.S. 2017 soybean production at 4.235 billion bushels, with an average yield of 47.7 bushels per acre (bpa). The figures compare with the USDA's current forecast for a 4.260 billion bushel crop with a yield of 48.0 bpa.

* INTL FCStone forecast this year's corn harvest at 13.590 billion bushels with an average yield of 162.8 bpa. The figures fell below the USDA's forecast for a corn crop of 14.255 billion bushels with a yield of 170.4 bpa.

MARKET NEWS

* The dollar clung to modest gains on Wednesday after bouncing from 15-month lows, benefiting from a pause in selling of the battered currency as investors begin positioning for key events this week, notably Friday's U.S. employment report.

* Oil dropped about 2 percent from a two-month high on Tuesday as major world oil producers kept pumping out supply, causing investors to worry that several weeks of steady gains had pushed the rally too far, too fast.

* The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks.

DATA/EVENTS (GMT)

- 0900 Euro Zone Producer Prices June - 1100 U.S. MBA Mortgage Market index weekly - 1215 U.S. ADP National Employment Jul - 1345 U.S. ISM-New York Index Jul

Grains prices at 0101 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 462.50 1.25 +0.27% -2.53% 501.01 30 CBOT corn 378.25 1.75 +0.46% -1.69% 391.23 40 CBOT soy 973.00 1.25 +0.13% -3.40% 984.20 36 CBOT rice 12.43 $0.05 +0.44% +1.35% $11.94 75 WTI crude 48.83 -$0.33 -0.67% -2.67% $46.10 61

Currencies

Euro/dlr $1.181 $0.001 +0.09% -0.24% USD/AUD 0.7966 0.000 -0.01% -0.45%

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)