GRAINS-Soybean prices extend gains into 3rd session on dry weather outlook

* Soybeans linger near six-day high

* Corn rebounds from losses of nearly 1 pct

* Wheat under pressure from ample global supplies

SYDNEY, Aug 9 (Reuters) - U.S. soybeans edged higher on Wednesday, extending gains into a third consecutive session amid forecasts for cool, dry weather in key U.S. growing regions. Corn prices inched up, rebounding from losses of nearly 1 percent the day before, while wheat was little changed. The most active soybean futures on the Chicago Board of Trade had risen 0.1 percent to $9.74-1/4 a bushel by 0330 GMT. They firmed 0.4 percent on Tuesday after hitting their highest since Aug. 2 at $9.79-3/4 a bushel. Analysts said forecasts for dry weather for much of the month across key producing regions were stoking concerns that expectations for a bumper crop may have to be reined in. "The market has been in such a malaise for such a long time, any news to break that is treated with enthusiasm," said Phin Ziebell, agribusiness economist, National Australia Bank. The U.S. Department of Agriculture late on Monday rated 60 percent of the U.S. soybean crop in good-to-excellent condition, up from 59 percent a week earlier. However, ratings declined in Illinois and Iowa, the top two U.S. soy states. Strong demand from China was also supporting prices, analysts said. Customs data this week showed China's July soybean imports surged 30 percent to their highest level since at least 2010. The most active corn futures were up 0.2 percent at $3.84-1/2 a bushel, after closing down 0.8 percent in the previous session. The most active wheat futures were unchanged at $4.57 a bushel. They ended Tuesday down 1.4 percent. Meanwhile, the European Union introduced a corn import tariff for the first time in nearly three years in view of low prices linked to swelling global supplies of the feed grain.

Grains prices at 0330 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 457.00 0.00 +0.00% -1.40% 498.40 35 CBOT corn 384.50 0.75 +0.20% -0.58% 391.00 49 CBOT soy 974.25 1.00 +0.10% +0.46% 992.45 45 CBOT rice 12.18 $0.04 +0.29% +1.12% $12.06 49 WTI crude 49.01 -$0.16 -0.33% -0.77% $47.14 55


Euro/dlr $1.173 -$0.002 -0.17% -0.54% USD/AUD 0.7870 -0.004 -0.53% -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 Joseph Radford)