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GRAINS-Soybeans extend gains into second session

SYDNEY, Oct 5 (Reuters) - U.S. soybeans edged higher for a second consecutive session on Thursday as rains across the Midwest slowed harvesting.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were up 0.4 percent to $9.61-3/4 a bushel by 0102 GMT, after firming 0.3 percent on Wednesday.

* The most active corn futures rose 0.3 percent to $3.49-1/4 a bushel, having closed down 0.4 percent in the previous session.

* The most active wheat futures were up 0.2 percent to$4.43 a bushel, having closed down 1.4 percent on Wednesday.

* Rains crossed parts of Iowa, Minnesota and Wisconsin in the last day, with light showers crossing areas of Missouri, Illinois and Indiana.

* Fears that dry weather might limit Brazilian soy plantings lent support. Industry group Abiove estimated Brazil's 2017-18 soybean crop at 108.5 million tonnes, down from its forecast last month of 113.8 million tonnes.

* Corn was anchored by better-than-expected yield reports from the early harvest and concern that the U.S. Department of Agriculture might raise its U.S. corn yield forecast in its next monthly supply/demand report on Oct. 12.

MARKET NEWS

* The U.S. dollar weakened on Wednesday as investors repositioned ahead of Friday's highly anticipated jobs report, but pared losses on a strong non-manufacturing report.

* Oil prices dipped on Thursday after the United States reported record crude exports, although traders said that efforts led by OPEC and Russia to cut production meant markets remained well supported overall.

* U.S. stocks edged up to extend their run of record closing highs on Wednesday as data on the services sector added to signs of strength in the economy and prospects for earnings.

DATA AHEAD (GMT)

1230 U.S. International trade Aug 1230 U.S. Weekly jobless claims 1400 U.S. Factory orders Aug

Grains prices at 0102 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 443.00 1.00 +0.23% -1.12% 443.16 45 CBOT corn 349.25 1.00 +0.29% -0.07% 352.96 45 CBOT soy 961.75 3.50 +0.37% +0.68% 960.08 49 CBOT rice 12.05 $0.02 +0.17% +0.29% $12.52 35 WTI crude 49.89 -$0.09 -0.18% -1.05% $49.33 39

Currencies

Euro/dlr $1.175 -$0.001 -0.06% +0.09% USD/AUD 0.7837 -0.003 -0.33% +0.04%

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)