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GRAINS-Corn rebounds from 11-day low, harvest pressure curbs gains

SYDNEY, Oct 23 (Reuters) - U.S. corn edged higher on Monday after hitting an 11-day low earlier in the session, though gains remained capped due to an advance in the North American harvesting season.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were up 0.2 percent at $3.45-1/4 a bushel, as of 0127 GMT, after earlier hitting $3.44-1/4 a bushel, their lowest since Oct. 12. Corn closed down 1.3 percent in the previous session.

* The most active soybean futures were little changed at $9.79 a bushel, near the session low of $9.76 a bushel - their lowest since Oct. 12. Soybeans ended 0.8 percent lower on Friday.

* The most active wheat futures climbed 0.1 pct to $4.26-1/2 a bushel, having closed down 1.6 percent in the previous session.

* Corn pressured as U.S. harvest advances amid good weather for crop development.

* The U.S. Department of Agriculture (USDA) said private exporters in the last day sold a total of 245,000 tonnes of U.S. corn to Spain and unknown destinations, along with 198,000 tonnes of soybeans to China.

* The USDA a day earlier had announced another 384,000 tonnes of soybeans sold to China.

MARKET NEWS

* The dollar edged up to a three-month high against the yen on Monday, with an emphatic election victory for Japan's ruling party keeping yen-weakening reflationary measures at the heart of government policy.

* Oil prices rose on Monday over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising.

DATA AHEAD (GMT)

0130 China House prices Sep 1230 U.S. National activity index Sep 1400 Euro zone Consumer confidence flash Oct

Grains prices at 0127 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 426.50 0.50 +0.12% -1.44% 442.27 36 CBOT corn 345.25 0.75 +0.22% -1.07% 350.54 40 CBOT soy 979.00 0.25 +0.03% -0.76% 971.59 52 CBOT rice 12.09 $0.01 +0.12% +1.34% $12.25 51 WTI crude 52.13 $0.29 +0.56% +1.64% $50.78 64

Currencies

Euro/dlr $1.176 -$0.002 -0.21% -0.78% USD/AUD 0.7803 -0.002 -0.19% -0.96%

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

(Reporting by Colin Packham; Editing by Sherry Jacob-Phillips)