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GRAINS-Wheat dips from near one-month high, crop condition report caps losses

SYDNEY, April 10 (Reuters) - U.S. wheat futures edged lower on Tuesday, easing from a near one-month high, although losses were checked as the U.S. Department of Agriculture pegged the condition of the crop below expectations.

FUNDAMENTALS

* The most active wheat futures on the Chicago Board Of Trade eased 0.5 percent to $4.88-1/4 a bushel by 0131 GMT after closing up 3.9 percent in the previous session when prices hit 4.93-3/4 a bushel - the highest since March 13.

* The most active soybean futures were unchanged at$10.47 a bushel, after closing up 1.3 percent on Monday.

* The most active corn futures were down 0.1 percent at $3.90-1/4 a bushel, having closed up 0.6 percent in the previous session

* U.S. Department of Agriculture (USDA) rated 30 percent of the U.S. winter wheat crop in good to excellent condition, down from 32 percent a week earlier and 53 percent a year ago. The figure fell below an average of analyst expectations for 31 percent.

* Cold weather threatens to stress crops, already weakened by dry weather.

* Soybeans got a boost from fresh export business, including confirmation from the USDA on Monday that private exporters sold another 232,500 tonnes of U.S. soybeans to unknown destinations.

* The USDA said the U.S. corn crop was 2 percent planted by Sunday, in line with trade expectations, but down from 3 percent a year ago.

MARKET NEWS

* The dollar sagged against its peers on Tuesday as rhetoric from Chinese and U.S. policymakers kept alive concerns about a trade conflict between the world's two largest economies and undermined support for the greenback.

* Oil prices dipped on Tuesday, easing after strong gains in the previous session when hopes that trade disputes between the United States and China could be resolved buoyed global markets.

* Wall Street's major indexes rose on Monday as a softer stance by U.S. policymakers on China tariffs powered a rebound from last week's selloff, but stocks pared much of their gains late in the session after a report that the Federal Bureau of Investigation raided the office of President Donald Trump's lawyer.

Grains prices at 0131 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 488.50 -2.25 -0.46% +3.44% 475.03 72 CBOT corn 390.25 -0.50 -0.13% +0.45% 384.06 65 CBOT soy 1047.00 0.00 +0.00% +1.28% 1042.37 61 CBOT rice 12.82 $0.00 +0.00% +2.60% $12.42 80 WTI crude 63.38 -$0.04 -0.06% +2.13% $62.84 49

Currencies

Euro/dlr $1.232 $0.000 +0.01% +0.32% USD/AUD 0.7703 0.001 +0.08% +0.36%

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)