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GRAINS-Corn extends losses into second session on ample global stocks

SYDNEY, Sept 27 (Reuters) - U.S. corn fell for a second consecutive session on Wednesday as ample global supplies, expected to be confirmed by the U.S. Department of Agriculture later this week, pressured prices.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were down 0.2 percent to $3.51-1/2 a bushel by 0035 GMT, having closed down 0.4 percent in the previous session.

* The most active soybean futures were little changed at $9.63 a bushel, having closed down 0.8 percent on Tuesday.

* The most active wheat futures were up 0.2 percent to $4.54-1/2 a bushel, having closed little changed on Tuesday.

* U.S. Department of Agriculture to issue last quarterly stocks report on Friday. Analysts expect U.S. corn stocks as of Sept. 1 to be pegged at 2.353 billion bushels, which would be the largest Sept. 1 stocks since 1988, if realized.

* Analysts surveyed by Reuters expect the government to lower its estimate of U.S. 2017 spring wheat and all-wheat production.

* U.S. Department of Agriculture report showed the U.S. soybean harvest was 10 percent complete as of Sunday, while 11 percent of the U.S. corn crop had been harvested.

* The progress figures fell below average trade estimates in a Reuters poll, but dry weather was forecast for this week in most of the U.S. Midwest, which should speed fieldwork.

MARKET NEWS

* The U.S. dollar hit five-week highs against the euro on Tuesday after Federal Reserve Chair Janet Yellen was seen as striking a slightly hawkish tone on rates, before the greenback gave back some gains as the move was seen as overdone.

* Oil prices ended 1 percent lower on Tuesday after investors took profits following a rally to 26-month highs spurred largely by threats from Turkey to cut crude exports from Iraqs Kurdistan region.

* The S&P 500 ended flat on Tuesday and the Nasdaq posted modest gains as technology shares bounced from sharp losses in the prior session and comments from Fed Chair Janet Yellen boosted expectations of a December rate hike.

DATA (GMT)

1100 U.S. Mortage Market index weekly 1230 U.S. Build Permits Aug 1230 U.S. Durable Goods Aug 1400 U.S. Pending Homes index Aug

Grains prices at 0035 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 454.50 0.75 +0.17% +0.11% 441.05 74 CBOT corn 351.50 -0.75 -0.21% -0.64% 355.18 54 CBOT soy 963.00 -0.50 -0.05% -0.85% 954.91 48 CBOT rice 11.97 $0.00 +0.00% -3.19% $12.64 26 WTI crude 52.05 $0.17 +0.33% -0.33% $48.72 74

Currencies

Euro/dlr $1.178 -$0.001 -0.10% -0.57% USD/AUD 0.7870 -0.002 -0.20% -0.81%

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)