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GRAINS-Soybeans edge higher as USDA pegs harvest rate behind forecasts

SYDNEY, Sept 26 (Reuters) - U.S. soybeans edged higher on Tuesday after the U.S. Department of Agriculture said harvesting was lagging behind market expectations, although gains were checked as weather forecasts called for near ideal conditions.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were up 0.3 percent to $9.73-3/4 a bushel by 0048 GMT after closing down 1.3 percent on Monday.

* The most active corn futures were up 0.1 percent to $3.54 a bushel, having gained nearly 1 percent in the previous session.

* The most active wheat futures were up 0.3 percent to $4.55-1/2 a bushel, having closed up 1 percent on Monday.

* USDA said 11 percent of the U.S. corn crop has been harvested as of Sept. 24, behind market expectations of 14 percent. USDA said 11 percent of the U.S. soybean crop had been harvested, matching market forecasts.

* However, unusually hot U.S. temperatures over the last week have accelerated crop maturity and should promote a quick harvest pace in the coming days.

MARKET NEWS

* The U.S. dollar rose against a basket of six currencies on Monday, with the euro hit by election results in Germany and investor jitters about a warning against hasty policy shifts by the European Central Bank president.

* Oil prices soared more than 3 percent on Monday, with Brent hitting its highest in more than two years, after major producers said the global market was on its way to rebalancing, while Turkey threatened to cut oil flows from Iraq's Kurdistan region toward its ports.

* Wall Street dipped on Monday, as a selloff in technology shares weighed heavily on the Nasdaq, while the most recent statement from North Korea's to Washington added to a cautious tone.

DATA/EVENT AHEAD (GMT)

0600 Germany Import prices Aug 0645 France Business climate Sep 1300 U.S. Case-Shiller housing index Jul 1400 U.S. Consumer confidence Sep 1400 U.S. New home sales Aug

1645 Federal Reserve Chair Janet Yellen speaks at Ohio event

Grains prices at 0048 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 455.50 1.50 +0.33% +1.33% 441.16 74 CBOT corn 354.00 0.25 +0.07% +0.14% 355.80 62 CBOT soy 973.75 2.50 +0.26% -1.07% 953.96 60 CBOT rice 12.05 $0.03 +0.25% -2.55% $12.64 28 WTI crude 52.10 -$0.12 -0.23% +2.84% $48.57 77

Currencies

Euro/dlr $1.185 $0.001 +0.05% -0.84% USD/AUD 0.7923 -0.001 -0.14% -0.49%

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)