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GRAINS-Soybeans extend losses into third straight session

SYDNEY, Oct 18 (Reuters) - U.S. soybeans edged lower for the third straight session on Wednesday as forecasts for dry weather fuelled expectations of a rapid advance in harvesting and ample supplies.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were down 0.1 percent to $9.84 a bushel by 0106 GMT, having closed down 0.6 percent on Tuesday.

* The most active corn futures were down 0.1 percent to $3.49-3/4 a bushel, having closed down 0.1 percent in the previous session.

* The most active wheat futures were down 0.2 percent to $4.33-3/4 a bushel, having closed down 0.4 percent on Tuesday.

* Soybeans and corn under pressure as dry weather across the U.S. Midwest is expected to allow farmers to catch up to their typical harvest schedule in the coming weeks.

* The USDA said in its U.S. crop report on Monday that 28 percent of U.S. corn has been harvested as of Sunday, behind market expectations of 31 percent, and up only 6 percentage points from the previous week.

* Harvesting of the U.S. soybean crop was 49 percent complete, matching analysts' expectations.

MARKET NEWS

* The dollar held an upper hand against other major currencies on Wednesday as investors weigh the possibility that U.S. President Donald Trump will choose a more hawkish Federal Reserve chief with than the current chair, Janet Yellen.

* Oil prices ended little changed on Tuesday, steadying after earlier gains and losses, as expectations of high U.S. production and exports offset concerns that fighting between Iraqi and Kurdish forces could threaten the country's crude output.

* The Dow Jones Industrial Average briefly broke above the 23,000-point mark for the first time on Tuesday, driven by strong earnings from UnitedHealth and Johnson & Johnson, but finished the session just below that milestone.

ATA/EVENT AHEAD (GMT)

0810 Opening speech by ECB President Mario Draghi at

ECB Conference in Germany

1230 U.S. Housing starts Sep 1230 U.S. Building permits Sep 1800 Federal Reserve releases Beige Book on economic

condition

Grains prices at 0106 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 433.75 -1.00 -0.23% -0.63% 443.21 42 CBOT corn 349.75 -0.25 -0.07% -0.21% 351.61 47 CBOT soy 984.00 -0.75 -0.08% -0.71% 969.80 58 CBOT rice 12.13 $0.00 +0.00% +0.08% $12.32 54 WTI crude 52.08 $0.20 +0.39% +0.40% $50.44 66

Currencies

Euro/dlr $1.177 $0.000 +0.03% -0.21% USD/AUD 0.7844 0.000 +0.01% -0.08%

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

(Reporting by Colin Packham; Editing by Gopakumar Warrier)