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GRAINS-Soybeans edge higher, USDA forecast caps gains

SYDNEY, Sept 14 (Reuters) - U.S. soybeans edged higher on Thursday, although gains were checked by the U.S. Department of Agriculture's forecast for record large North American production.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were up 0.4 percent to $9.64-1/2 a bushel by 0114 GMT, having firmed 1.1 percent on Wednesday.

* The most active corn futures were up 0.6 percent to $3.53-1/2 a bushel, having closed unchanged in the previous session.

* The most active wheat were up 0.4 percent to $4.45 a bushel, having closed up 0.3 percent on Wednesday.

* The USDA said private exporters sold 167,370 tonnes of U.S. soybeans to Mexico for delivery in the 2017/18 marketing year that began Sept. 1.

* Soybeans were under pressure from USDA's forecast on Tuesday for a record-large U.S. 2017 soybean harvest totalling 4.431 billion bushels, with an average yield of 49.9 bushels per acre (bpa).

* The USDA pegged the U.S. corn yield at 169.9 bpa. The government's yield estimates for both crops were above most analyst estimates.

* Dry conditions could slow seeding in parts of Brazil, while excessive rains are threatening seedings in parts of Argentina.

MARKET NEWS

* The dollar held steady near a four-week high against the yen on Thursday, with traders looking to U.S. consumer inflation data later in the day for clues on the possible timing of the Federal Reserve's next rate rise.

* Oil prices on Thursday held most of their gains of around 2 percent from the previous session, buoyed after the International Energy Agency raised its forecast for growth in global oil demand.

* Wall Street edged up to a record high on Wednesday as gains in consumer discretionary and energy stocks offset losses in technology heavyweight Apple Inc.

DATA/EVENT AHEAD (GMT)

0200 China Industrial output Aug 0200 China Retail sales Aug 0200 China Urban investment Aug

1100 Bank of England announces interest rate decision

1230 U.S. Consumer prices Aug 1230 U.S. Weekly jobless claims

Grains prices at 0114 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 445.00 1.75 +0.39% +0.68% 448.84 53 CBOT corn 353.50 2.00 +0.57% +0.57% 363.16 40 CBOT soy 964.50 4.00 +0.42% +1.47% 949.74 54 CBOT rice 12.85 -$0.06 -0.46% -0.77% $12.65 62 WTI crude 49.23 -$0.07 -0.14% +2.07% $48.10 61

Currencies

Euro/dlr $1.188 -$0.001 -0.07% -0.74% USD/AUD 0.7977 -0.001 -0.09% -0.51%

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)