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GRAINS-Soybeans extend rally into second session on strong U.S. sales

SYDNEY, Sept 21 (Reuters) - U.S. soybeans rose for a second consecutive session on Thursday as the oilseed drew support from a report of strong export figures by the U.S. Department of Agriculture.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were up 0.2 percent at $9.72 a bushel as of 0055 GMT, having firmed 0.5 percent on Wednesday.

* The most active corn futures were up 0.1 percent at $3.50-1/2 a bushel, having gained 0.5 percent in the previous session.

* The most active wheat futures were up 0.4 percent at $4.51-1/2 a bushel, having closed up 1.5 percent on Wednesday.

* The U.S. Department of Agriculture said private exporters sold 1.2 million tonnes of U.S. soybeans, including 1.08 million tonnes to unknown destinations.

* The USDA said the soybean sale was among the 10 largest ever announced through its daily reporting system, which dates to 1977. Analysts suspected that at least a portion of the sales to unknown destinations were earmarked for China, which is by far the world's largest soy importer.

MARKET NEWS

* The dollar rose to a two-month high against the yen and extended its gains against the euro on Thursday after a hawkish-sounding Federal Reserve heightened expectations for an interest rate hike in December.

* Oil prices settled up 2 percent on Wednesday despite a rise in U.S. crude inventories, with the market heading for its largest third-quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts.

* The S&P 500 and the Dow ended slightly higher on Wednesday, adding to their string of closing records, after the Federal Reserve signalled it expects another interest rate hike by year-end and disclosed timing for reducing its balance sheet.

DATA AHEAD (GMT)

1230 U.S. Weekly jobless claims 1230 U.S. Philly Fed business index Sep 1300 U.S. Monthly home price index Jul 1400 Euro zone Consumer confidence flash Sep 1400 U.S. Leading index Aug

Grains prices at 0055 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 451.50 1.75 +0.39% +1.92% 442.50 72 CBOT corn 350.25 0.25 +0.07% +0.57% 357.83 55 CBOT soy 972.00 2.00 +0.21% +0.67% 950.48 69 CBOT rice 12.73 -$0.07 -0.59% -0.39% $12.69 55 WTI crude 50.73 $0.04 +0.08% +2.53% $48.25 70

Currencies

Euro/dlr $1.188 -$0.001 -0.11% -0.95% USD/AUD 0.8016 -0.001 -0.19% +0.09%

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

(Reporting by Colin Packham; Editing by Subhranshu Sahu)