GRAINS-Wheat firms, lingers near seven-month high

SYDNEY, Feb 27 (Reuters) - U.S. wheat edged higher on Tuesday to linger near a seven-month high after the U.S. Department of Agriculture said the condition of the crop has been hurt by recent dry weather, stoking concerns about potential lower global output.


* The most active wheat futures on the Chicago Board Of Trade were up 0.4 percent to $4.74-1/2 a bushel by 0206 GMT, having closed up 1.8 percent on Monday when prices hit a high of $4.76-3/4 a bushel - the highest since August 1, 2017.

* The most active soybean futures were down 0.1 percent to $10.44-3/4 a bushel, having closed down 0.1 percent on Monday.

* The most active corn futures were down 0.1 percent to $3.68-1/4 a bushel, having gained 0.6 percent in the previous session.

* Condition ratings for winter wheat declined in February across most U.S. Plains states, including top producer Kansas, the U.S. Department of Agriculture said on Monday, underscoring the effect of drought in the region.

* Wheat support by dry conditions in the U.S. Plains and severe cold in Europe also fueled weather concerns.

* Some 15 millimeters (0.59 inches) of rain are expected to fall on Argentina's Pampas grains belt in the coming days, a local meteorologist said on Monday, potentially providing some relief to the corn and soy crops reeling from four months of drought.

* Brazilian soybean farmers, however, are expected to harvest a record 117.5 million tonnes of soybeans in the 2017/18 crop cycle, a top executive at Brazil-based consultancy Agroconsult said on Friday.


* The dollar eased on Tuesday, with the focus on a slew of economic data this week and Federal Reserve Chairman Jerome Powell's testimony, which could determine whether the U.S. currency's recovery from a three-year low has more room to run.

* U.S. oil prices rose for a fourth session on Tuesday to near a three-week high hit a day earlier, supported by signs of robust production curbs by OPEC and non-OPEC countries and a slight fall in U.S. production.

* U.S. stocks rose to more than three-week highs on Monday, recovering much of the losses sustained in a sell-off earlier this month, as a decline in Treasury yields assuaged investor concerns about rising interest rates and refocused attention on economic growth.


0745 France Consumer confidence Feb 0900 Euro zone Money supply growth Jan 1000 Euro zone Business climate Feb 1300 Germany Consumer prices Feb 1330 U.S. Durable goods Jan 1330 U.S. Advance goods trade balance Jan 1400 U.S. Monthly home price index Dec 1400 U.S. Case-Shiller housing index Dec 1500 U.S. Consumer confidence Feb

1500 Federal Reserve Chairman Jerome Powell delivers semi-annual monetary policy testimony before the House Financial Services Committee

Grains prices at 0206 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 474.50 1.75 +0.37% +1.93% 458.94 63 CBOT corn 368.25 -0.25 -0.07% +0.55% 361.14 64 CBOT soy 1044.75 -1.25 -0.12% -0.26% 1009.99 71 CBOT rice 12.10 $0.00 +0.00% -1.06% $12.42 34 WTI crude 63.98 $0.07 +0.11% +0.68% $63.20 70


Euro/dlr $1.234 $0.002 +0.16% +0.35% USD/AUD 0.7862 0.001 +0.10% +0.26%

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

(Reporting by Colin Packham; Editing by Sunil Nair)