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GRAINS-Wheat falls 1 pct, hits 10-day low as weather outlook improves

SYDNEY, April 16 (Reuters) - U.S. wheat futures fell more than 1 percent on Monday to a 10-day low as rains were forecast across a key producing region, easing fears about widespread losses following recent adverse weather.

FUNDAMENTALS

* The most active wheat futures on the Chicago Board Of Trade eased 1.1 percent to $4.67-1/2 a bushel by 0101 GMT, near the session low of $4.65-1/4 a bushel - the lowest since April 6. Wheat closed down 1.8 percent in the previous session.

* The most active soybean futures were down 0.3 percent to $10.51-1/2 a bushel, after closing down 0.6 percent on Friday.

* The most active corn futures were down 0.6 percent to $3.84 a bushel, having closed down 0.6 percent in the previous session.

* Rains forecast across U.S. Plains, which would provide much needed relief to crops suffering from recent dry weather.

* The U.S. Department of Agriculture (USDA) on Thursday reported export sales for old and new crop U.S. wheat in the latest week at 188,700 tonnes, below trade expectations.

* Argentina, the world's No. 3 soybean producer, has struggled with a drought that has slashed its crop. However, yield prospects are bright in neighbouring Paraguay and Brazil.

* Paraguay will produce just over 10 million tonnes of soybeans in 2017/18, slightly less than a year earlier, the national export chamber CAPECO said on Thursday.

MARKET NEWS

* The dollar firmed on Monday, hovering near a two-month high against the yen, after the market gained some clarity following military strikes on Syria by the United States and its allies at the weekend.

Grains prices at 0101 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 467.50 -5.00 -1.06% -2.81% 472.50 43 CBOT corn 384.00 -2.25 -0.58% -1.22% 384.51 47 CBOT soy 1051.50 -2.75 -0.26% -0.87% 1041.48 56 CBOT rice 13.07 -$0.04 -0.34% +1.40% $12.49 79 WTI crude 66.77 -$0.62 -0.92% -0.45% $63.61 64

Currencies

Euro/dlr $1.234 $0.001 +0.06% +0.09% USD/AUD 0.7774 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 Amrutha Gayathri)