GRAINS-Soybean prices edge up, rebound from near two-week low

SYDNEY, Oct 25 (Reuters) - U.S. soybeans inched up on Wednesday to move away from a near two-week low, though gains were checked as supply poured into the market due to the rapid pace of harvesting in North America.


* The most active soybean futures on Chicago Board of Trade, for March, were up 0.2 percent at $9.77-1/2 a bushel by 0056 GMT. They closed down 0.5 percent on Tuesday, after marking their lowest since Oct. 12 at $9.72-3/4 a bushel.

* The most active corn futures were down 0.1 percent at $3.52-1/4 a bushel. They gained 0.4 percent in the previous session, when prices hit their strongest since Oct. 16 at $3.53 a bushel.

* The most active wheat futures were down 0.1 percent at $4.37-1/2 a bushel, having closed up 0.3 percent on Tuesday.

* The U.S. soybean harvest was 70 percent complete, ahead of analyst forecasts of 64 percent, the U.S. Department of Agriculture said in its weekly crop progress and conditions report. That leaves farmers only 3 percentage points behind their five-year average.

* The USDA assessed 66 percent of the U.S. corn crop as being in good-to-excellent condition, which compared with analyst forecasts of 65 percent.

* The USDA said 75 percent of U.S. winter wheat was planted, ahead of analyst forecasts of 73 percent.


* The dollar held firm on Tuesday against a basket of currencies as a report that John Taylor has support from a group of Republican Senators to be Federal Reserve chief offset news that might hamper the passage of a tax-cut plan.

* Brent oil rose 1 percent on Tuesday after top exporter Saudi Arabia said it was determined to end a supply glut, while prices also drew support from forecasts of a further drop in U.S. crude inventories as well as nervousness over tensions in Iraqi Kurdistan.

* The Dow rallied on Tuesday, registering its biggest daily percentage gain in more than a month, as stronger-than-expected results and forecasts from companies including 3M and Caterpillar fuelled optimism about economic strength.


0800 Germany Ifo business climate Oct 0830 Britain Preliminary GDP Q3 1230 U.S. Durable goods Sep 1300 U.S. Monthly home price index Aug 1400 U.S. New home sales Sep

Grains prices at 0056 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 437.50 -0.50 -0.11% +0.17% 442.28 52 CBOT corn 352.25 -0.50 -0.14% +0.28% 350.81 56 CBOT soy 977.50 2.00 +0.21% -0.33% 973.05 47 CBOT rice 11.62 $0.02 +0.13% -2.96% $12.15 27 WTI crude 52.45 -$0.02 -0.04% +1.06% $51.02 66


Euro/dlr $1.175 -$0.001 -0.05% +0.05% USD/AUD 0.7737 -0.004 -0.49% -0.87%

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

(Reporting by Colin Packham; Editing by Joseph Radford)