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GRAINS-Corn edges lower to linger near 8-month low

SYDNEY, Aug 30 (Reuters) - U.S. corn edged lower on Wednesday as expectations that the market will soon be flooded with ample U.S. supplies pushed prices towards an eight-month low.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were down 0.1 percent to $3.48-1/2 a bushel by 0100 GMT, having closed down 0.9 percent in the previous session when prices hit a low of $3.47 a bushel - the lowest since Dec. 27, 2016.

* The most active soybean futures were up 0.1 percent to $9.38 a bushel, having closed down 0.4 percent on Tuesday.

* The most active wheat futures were up 0.4 percent to $4.31-1/4 a bushel, having closed up 0.4 percent on Tuesday.

* Exporters sold 226,000 tonnes of U.S. corn to Mexico and 198,000 tonnes of U.S. soybeans to China, according to the U.S. Department of Agriculture.

* Egypt bought 295,000 tonnes of wheat from Russia and Ukraine in a tender in which no U.S. supplies were offered.

* USDA on Monday said 61 percent of the soybean crop was in good to excellent condition, up from 60 percent last week. Analysts surveyed by Reuters expected soy ratings to stay steady.

* USDA said 62 percent of the U.S. corn crop was in good to excellent condition, unchanged from last week.

* Tropical Storm Harvey halted port loadings at wheat terminals in Texas, and the storm could delay corn and soy harvest in the Mississippi River Delta region later this week.

MARKET NEWS

* The U.S. dollar turned positive against a basket of major rivals on Tuesday after touching its lowest level in more than 2-1/2 years as traders brushed aside concerns surrounding a North Korean missile launch over Japan.

* U.S. gasoline futures jumped 4 percent while crude prices were mixed on Tuesday after a hurricane shut down more than 19 percent of the country's refining capacity, curbing fuel production and further bloating crude inventories.

* Major U.S. stock indexes ended higher on Tuesday after recovering from steep early losses triggered by fears that hostilities in the Korean Peninsula could escalate.

DATA AHEAD (GMT)

0900 Euro zone Business climate Aug 1200 Germany Consumer prices Aug 1215 U.S. ADP national ecmployment Aug 1230 U.S. GDP 2nd estimate Q2

Grains prices at 0100 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 431.25 1.50 +0.35% +0.76% 471.08 31 CBOT corn 348.50 -0.25 -0.07% -0.71% 373.75 14 CBOT soy 938.00 0.75 +0.08% -0.35% 964.19 38 CBOT rice 12.65 $0.04 +0.36% +0.00% $12.56 53 WTI crude 46.34 -$0.10 -0.22% -0.49% $48.10 39

Currencies

Euro/dlr $1.198 $0.000 +0.03% -0.02% USD/AUD 0.7959 0.001 +0.15% -0.04%

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)