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GRAINS-Corn falls, retreats from more than two-week high

SYDNEY, Sept 7 (Reuters) - U.S. corn ticked down on Thursday, easing from a more than two-week high touched in the previous session, though fears over the condition of the U.S. crop provided a floor to losses.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were down 0.6 percent to $3.59 a bushel by 0050 GMT after closing up 0.7 percent in the previous session when prices hit a high of $3.62 a bushel - the highest since Aug. 23.

* The most active soybean futures were little changed at $9.71-1/4 a bushel, having firmed 0.3 percent on Wednesday.

* The most active wheat futures were down 0.1 percent to $4.41-1/4 a bushel, having closed up 0.7 percent on Wednesday.

* Corn draws support from concerns about slow crop maturity that may slow the start of harvest and leave crops vulnerable to bad weather.

* The U.S. Department of Agriculture in a weekly report late Tuesday said 12 percent of the U.S. corn crop was mature, behind the five-year average of 18 percent. The slow maturity could delay the harvest, which normally begins this month in the Midwest.

* Forecasts called for dry weather across much of the Midwest for the next 10 days, potentially stressing the maturing U.S. soybean crop.

* The expected arrival of hurricane Irma in the southeast of the United States next week could also hit some soybean and corn crops.

MARKET NEWS

* The U.S. dollar hit a multi-year low against the Canadian dollar on Wednesday after the Bank of Canada surprised many by raising interest rates, while rising against the safe-haven yen after President Donald Trump said he agreed with lawmakers to pass an extension of the U.S. debt limit.

* Oil prices rose more than 1 percent on Wednesday as strong global refining margins and the reopening of U.S. Gulf Coast refineries provided a more bullish outlook after sharp drops due to Hurricane Harvey.

* Wall Street climbed on Wednesday, boosted by energy shares and helped by news of an agreement to extend the debt limit, as stocks bounced back from a day-earlier selloff.

DATA/EVENT AHEAD (GMT)

China Forex reserves Aug 0600 Germany Industrial output Jul 0645 France Current account Jul 0645 France Trade balance Jul 0900 Euro zone Revised GDP Q2

1145 European Central Bank interest rate decision 1230 ECB President Mario Draghi holds news conference

1230 U.S. Weekly jobless claims

Grains prices at 0052 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 445.25 -0.50 -0.11% +0.51% 458.68 53 CBOT corn 359.00 -2.00 -0.55% +0.14% 368.13 53 CBOT soy 971.25 0.25 +0.03% +0.28% 955.81 67 CBOT rice 12.69 -$0.04 -0.28% -2.01% $12.62 54 WTI crude 49.18 $0.02 +0.04% +1.07% $48.28 65

Currencies

Euro/dlr $1.192 $0.001 +0.08% +0.10% USD/AUD 0.8013 0.001 +0.18% +0.23%

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

(Reporting by Colin Packham; Editing by Amrutha Gayathri)