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GRAINS-Soybeans rise from 2-wk low, gains capped by improved Brazil weather

* Soybeans up on bargain-buying after hitting lowest since Oct 30

* Rains boost soil moisture in Brazil, limit gains in soybeans

(Adds details, quotes) Nov 14 (Reuters) - Chicago soybeans edged higher on Tuesday with prices underpinned by bargain-buying after the market dropped to a two-week low in the previous session, although gains were limited by rains in key Brazilian growing areas. Wheat edged higher, also following deep losses on Monday, while corn eased for a second session. The Chicago Board Of Trade most-active soybean contract rose 0.2 percent to $9.75-3/4 a bushel by 0256 GMT, having closed down 1.3 percent on Monday, when prices hit a low of $9.73-3/4 a bushel, weakest since Oct. 30. Corn lost 0.2 percent to $3.41-1/2 a bushel, having dropped 0.4 percent in the previous session. Wheat added 0.2 percent to $4.25-1/4 a bushel, having closed down 1.7 percent on Monday. Improved Brazilian weather is keeping a lid on corn and soybean prices. Rains have been widespread across northern Brazil over the past weekend, replenishing moisture for the two crops, MDA Weather Services said in a note to clients, adding that there are additional improvements in the weather expected this week. Mostly dry weather is expected next week in Argentina's main agricultural area, and that will delay soybean planting there for the 2017/2018 season, analysts said on Monday. Rainfall in Argentina, the world's main soymeal exporter, has been lower than expected in November, causing alarm among farmers even before the forecast for dry weather next week. "Ultimately, I think the big picture is that South American yields will be good overall," said Phin Ziebell, an agribusiness economist at National Australia Bank. For the United States, farmers have harvested 93 percent of the soybean crop as of Sunday, slightly behind the average pace of 95 percent for this time of year, the U.S. Department of Agriculture said. The agency said 83 percent of the U.S. corn crop has been harvested, below the average pace of 91 percent. In the wheat market, Russian export prices fell for the second straight week due to a weaker rouble against the dollar and softer demand, analysts said on Monday. Large speculators increased their net short position in CBOT corn futures in the week to Nov. 7, regulatory data released on Monday showed. The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, increased their net short position in CBOT wheat and raised their net long position in soybeans.

Grains prices at 0256 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 425.25 1.00 +0.24% -1.45% 431.26 43 CBOT corn 341.50 -0.75 -0.22% -0.58% 348.18 30 CBOT soy 975.75 1.50 +0.15% -1.14% 987.73 38 CBOT rice 11.36 $0.00 -0.04% -0.57% $11.93 29 WTI crude 56.65 -$0.11 -0.19% -0.16% $53.24 69

Currencies

Euro/dlr $1.167 $0.001 +0.05% +0.07% USD/AUD 0.7629 0.001 +0.10% -0.42%

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

(Reporting by Naveen Thukral; Editing by Tom Hogue)