GRAINS-Soybean prices extend gains into second session

SYDNEY, June 27 (Reuters) - U.S. soybeans edged up on Wednesday to extend gains into a second session, but concerns about trade tensions between the United States and China kept a lid on prices.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board of Trade were up 0.6 percent at $8.68-3/4 a bushel by 0130 GMT, having firmed 1.5 percent on Tuesday.

* The most active corn futures were up 0.1 percent at $3.52-3/4 a bushel, after rising 0.6 percent in the previous session.

* The most active wheat futures were up 0.3 percent at$4.84-1/2 a bushel, having closed down 1.6 percent on Tuesday.

* The U.S. Department of Agriculture late on Monday said the U.S. winter wheat harvest was 41 percent complete while the Kansas harvest was 52 percent finished, ahead of the state's five-year average of 32 percent.

* The USDA late on Monday rated 73 percent of the U.S. soybean crop in good-to-excellent condition, its highest rating for this time of year in records dating to the mid-1980s.

* Traders have started to adjust positions ahead of the USDA's acreage and quarterly stocks reports on Friday. Analysts surveyed by Reuters on average expected the government to raise its U.S. corn and soybean plantings estimates from the forecasts the USDA released in March.

MARKET NEWS

* The dollar was buoyant on Wednesday, having rebounded from two-week lows against its rivals as the yen sagged on easing risk aversion.

* Crude futures jumped over 2 percent on Tuesday and U.S. oil topped $70 for the first time in two months as Washington pushed allies to halt imports of Iranian crude, which would constrain global supplies.

* U.S. stocks found their footing on Tuesday, helped by gains in the energy, technology and consumer discretionary sectors after a sharp sell-off a day earlier on spiralling global trade tensions.

0645 France Consumer confidence Jun 0800 Euro zone Lending and money supply May 1230 U.S. Durable goods May 1230 U.S. Wholesale inventories May 1400 U.S. Pending homes sales May

Grains prices at 0130 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 484.50 1.50 +0.31% -1.22% 522.37 32 CBOT corn 352.75 0.25 +0.07% +0.64% 379.27 30 CBOT soy 872.75 5.50 +0.63% -0.20% 965.08 25 CBOT rice 12.51 $0.00 +0.00% -0.75% $12.00 57 WTI crude 70.81 $0.28 +0.40% +4.01% $67.84 71

Currencies

Euro/dlr $1.166 $0.001 +0.10% -0.38% USD/AUD 0.7388 0.000 -0.07% -0.34%

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

(Reporting by Colin Packham Editing by Joseph Radford)