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GRAINS-Corn lingers near 8-month low as ample global stocks weigh

SYDNEY, Aug 29 (Reuters) - U.S. corn eased on Tuesday, loitering near an eight-month on expectations global supplies will remain ample, despite the U.S. Department of Agriculture (USDA) pegging the condition of the crop below forecasts.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were down 0.1 percent to $3.50-3/4 a bushel by 0117 GMT after sliding 0.7 percent in the previous session when prices dropped to $3.50-1.2 a bushel - the lowest since December 30, 2016.

* The most active soybean futures were up 0.1 percent to $9.42 a bushel, having closed down 0.3 percent on Monday.

* The most active wheat futures were up 0.2 percent $4.28-3/4 a bushel, having closed down 1.7 percent on Monday.

* After the close of trading the USDA left corn crop ratings unchanged, while rating U.S. soybean crop conditions as good to excellent. Analysts surveyed by Reuters had expected soy ratings to stay steady and corn conditions to increase slightly.

* Top global importer Egypt after the close said it was seeking global wheat offerings for October shipments.

MARKET NEWS

* The dollar slumped to a four-month low against the yen early on Tuesday after North Korea fired a missile that passed over northern Japan, the latest act of provocation by Pyongyang that has ramped up tensions in the region over the past month.

* Heavy rains from tropical storm Harvey caused large-scale U.S. refinery outages, pushing up gasoline prices, while crude prices rose in early Asian trade on Tuesday on the back of supply disruptions in Colombia and Libya.

* U.S. stock futures opened sharply lower on Monday for the overnight session after the Japanese and South Korean governments said North Korea had fired a missile that passed over northern Japan early on Tuesday.

DATA (GMT)

1255 U.S. Redbook weekly 1400 U.S. Consumer Confidence Aug 1430 U.S. Texas Serv Sect Outlook Aug

Grains prices at 0117 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 428.75 0.75 +0.18% -1.49% 474.33 21 CBOT corn 350.75 -0.25 -0.07% -0.78% 375.41 14 CBOT soy 942.00 0.75 +0.08% -0.26% 966.83 40 CBOT rice 12.56 -$0.09 -0.71% -1.18% $12.54 53 WTI crude 46.83 $0.26 +0.56% -2.17% $48.14 42

Currencies

Euro/dlr $1.196 -$0.001 -0.11% +0.34% USD/AUD 0.7935 -0.003 -0.34% +0.03%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Colin Packham; Editing by Kenneth Maxwell)