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GRAINS-Wheat ticks higher, but lingers near 6-month low

SYDNEY, Nov 1 (Reuters) - U.S. wheat futures edged higher on Wednesday, recovering from a more than six-month low touched in the previous session, though gains were checked by ample global supplies.

FUNDAMENTALS

* The most active wheat futures on the Chicago Board Of Trade were up 0.1 percent at $4.18-3/4 a bushel by 0124 GMT, having closed down 1.5 percent on Tuesday when prices hit a low of $4.16-1/4 a bushel - the lowest since April 25.

* The most active soybean futures were up 0.2 percent at $9.75-1/2 a bushel, having firmed 1.2 percent on Tuesday.

* The most active corn futures were up 0.1 percent at $3.46 a bushel, having slid 0.9 percent in the previous session.

* The U.S. Department of Agriculture (USDA) on Tuesday confirmed private sales of 100,000 tonnes of hard red winter wheat to Iraq.

* It said 52 percent of the U.S. wheat crop was in good to excellent condition as of Sunday, well behind market forecasts.

* The USDA said 54 percent of the corn crop had been harvested as of Sunday, ahead of market expectations, while 83 percent of the soybean crop had been harvested, in line with analysts' expectations.

MARKET NEWS

* The dollar edged higher on Wednesday, as investors awaited the outcome of the U.S. Federal Reserve's two-day policy meeting later in the session for clues about future tightening.

* Brent crude oil prices were near two-year highs on Wednesday as OPEC has significantly improved compliance with its pledged supply cuts and Russia is also seen keeping to the deal.

* A jump in shares of consumer companies Mondelez and Kellogg after their quarterly reports on Tuesday, along with further gains for tech stocks, helped Wall Street end October on a positive note.

DATA/EVENTS (GMT)

- 1100 U.S. MBA Mortgage Applications survey weekly - 1215 U.S. ADP National Employment Oct - 1345 U.S. Markit Mfg PMI Final Oct - 1400 U.S. ISM Manufacturing PMI Oct

Grains prices at 0124 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 418.75 0.25 +0.06% -1.41% 438.64 28 CBOT corn 346.00 0.25 +0.07% -0.79% 350.13 37 CBOT soy 975.50 1.75 +0.18% +0.28% 973.67 42 CBOT rice 11.60 $0.01 +0.04% -1.40% $12.22 20 WTI crude 54.68 $0.30 +0.55% +0.98% $51.68 80

Currencies

Euro/dlr $1.164 -$0.001 -0.07% -0.11% USD/AUD 0.7657 0.000 +0.03% -0.39%

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

(Reporting by Colin Packham; Editing by Subhranshu Sahu)