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GRAINS-Wheat firms, edges up from one-month low as U.S. crops suffer further damage

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SYDNEY, March 21 (Reuters) - U.S. wheat futures edged higher on Wednesday, rebounding from a one-month low touched in the previous session, after damage to crops in a key producing region from dry weather.

FUNDAMENTALS

* The most active wheat futures on the Chicago Board Of Trade were up 0.1 percent to $4.53-1/2 a bushel by 0109 GMT. Prices closed up 0.5 percent on Tuesday, recovering from a low of $4.50 a bushel - the lowest since Feb 22.

* The most active soybean futures rose 0.2 percent to $10.30-3/4 a bushel, having firmed 0.6 percent on Tuesday.

* The most active corn futures added 0.1 percent to $3.74-3/4 a bushel, having closed down 0.1 percent in the previous session.

* The U.S. Department of Agriculture (USDA) late on Monday rated 11 percent of top winter wheat producer Kansas in good-to-excellent condition, down from 12 percent a week earlier. Wheat ratings also declined in Texas.

* Wheat had come under sustained pressure in recent days as rains fell across parched fields.

* U.S. agricultural exports could be at risk in any retaliation over tariffs implemented by the White House, U.S. Secretary of Agriculture Sonny Perdue said on Monday.

MARKET NEWS

* The dollar held firm against major currencies on Wednesday as traders look to whether the U.S. Federal Reserve will indicate faster monetary tightening this year, with the first rate increase of 2018 almost unanimously expected later in the day.

* Oil prices rose on Wednesday, supported by tensions in the Middle East and healthy global demand, although rising U.S. output from the United States continued to weigh on markets.

* U.S. stocks advanced modestly on Tuesday as higher oil prices lifted the energy sector, but another slump in Facebook Inc shares curbed gains.

Grains prices at 0109 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 453.50 0.50 +0.11% +0.61% 478.56 28 CBOT corn 374.75 0.25 +0.07% -0.07% 380.09 35 CBOT soy 1030.75 2.50 +0.24% +0.81% 1039.96 45 CBOT rice 12.21 $0.01 +0.04% -0.61% $12.36 44 WTI crude 63.76 $0.22 +0.35% +2.74% $61.64 68

Currencies

Euro/dlr $1.226 $0.002 +0.13% -0.62% USD/AUD 0.7693 0.001 +0.14% -0.31%

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

(Reporting by Colin Packham; editing by Richard Pullin)