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GRAINS-Soybeans edge higher, linger near 2-wk high

SYDNEY, Nov 2 (Reuters) - U.S. soybeans edged higher on Thursday, lingering near a more than two-week high hit in the previous session, as reports of lower-then-expected yields supported prices.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were up 0.1 percent at $9.92-1/2 a bushel by 0029 GMT, having firmed 0.7 percent on Wednesday when prices hit a high of $9.95 a bushel - the highest since Oct. 16.

* The most active corn futures were down 0.1 percent at $3.47-3/4 a bushel, having gained 0.7 percent in the previous session.

* The most active wheat futures were unchanged at $4.18-1/2 a bushel, having closed down 0.1 percent on Wednesday.

* The USDA last month lowered its forecast of the U.S. 2017 soybean yield to 49.5 bushels per acre, and some expect the government to trim its estimate again in its next monthly supply and demand reports on Nov. 9.

* INTL FCStone kept its forecast of the U.S. 2017 soybean yield at 49.9 bushels per acre (bpa), unchanged from its previous monthly estimate. The firm raised its U.S. corn yield estimate to 173.7 bpa, from 169.2 bpa last month.

MARKET NEWS

* The dollar climbed on Wednesday, nearing a 3 1/2-month high against the yen, as investor optimism about the greenback rose ahead of major announcements on U.S. fiscal and monetary policy after strong economic data.

* Oil prices held steady on Thursday as U.S. crude inventories fell despite a rise in production, while outside the United States an OPEC-led supply cut continued to tighten the market.

* Wall Street posted modest gains on Wednesday after the U.S. Federal Reserve kept interest rates unchanged and gave encouraging comments about the economy.

DATA/EVENTS (GMT)

0900 Euro Zone Markit Mfg Final PMI Oct 1130 U.S. Challenger Layoffs Oct 1230 U.S. Initial Jobless Claims weekly

Grains prices at 0029 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 418.00 0.00 +0.00% -1.94% 411.85 25 CBOT corn 347.75 -0.50 -0.14% -2.93% 355.26 44 CBOT soy 992.00 0.75 +0.08% -4.64% 1024.60 54 CBOT rice 11.51 $0.00 +0.04% +15.33% $9.84 24 WTI crude 54.25 -$0.05 -0.09% +2.34% $52.41 73

Currencies

Euro/dlr $1.163 $0.103 +9.72% +9.29% USD/AUD 0.7682 0.021 +2.77% +2.44%

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)