SINGAPORE, April 2 (Reuters) - Chicago corn futures rose for a second straight session on Tuesday with planting delays in several key U.S. growing areas underpinning prices, although ample global supplies kept a lid on the market. Soybeans gained more ground as the market was supported by expectations of a trade deal between Washington and Beijing.
FUNDAMENTALS
* The Chicago Board of Trade most-active corn contract rose 0.2 percent to $3.62-1/2 a bushel by 0112 GMT, after gaining 1.5 percent on Monday.
* Soybeans gained 0.1 percent to $8.96-1/2 a bushel and wheat added 0.2 percent to $4.63-3/4 a bushel.
* There are forecasts for more rain in the U.S. Midwest after recent flooding which will keep farmers out of the fields in southern areas that start plant corn in early April.
* It has resulted in uncertainty over the scale of corn planting as flooding could push farmers to shift some acreage towards later-planted soybeans.
* At least 1 million acres (405,000 hectares) of U.S. farmland were flooded after a "bomb cyclone" storm left parts of nine major grain producing states under water, satellite data analyzed by Gro Intelligence for Reuters showed.
* Soybean futures received support from optimism about a trade deal with China after the U.S. Agriculture Department said private exporters reported the sale of 828,000 tonnes of soybeans to China.
MARKET NEWS
* Asia shares extended their rally on Tuesday as factory activity surveys from China and the United States boosted investor confidence, triggering the largest one-day sell-off in the U.S. Treasury market in nearly three months.
DATA/EVENTS (GMT)
0330 Australia RBA Cash Rate April1200 Brazil Industrial Output MM YY Feb1230 US Durable Goods Feb
Grains prices at 0112 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 463.75 1.00 +0.22% -0.16% 462.76 49CBOT corn 362.50 0.75 +0.21% -3.07% 372.65 38CBOT soy 896.50 1.00 +0.11% +0.79% 905.96 49CBOT rice 10.86 $0.00 +0.00% -0.41% $10.74 48WTI crude 61.89 $0.30 +0.49% +4.37% $57.86
Currencies
Euro/dlr $1.120 -$0.001 -0.12% -0.15%USD/AUD 0.7106 0.001 +0.17% +0.44%
Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential
(Reporting by Naveen Thukral; Editing by Subhranshu Sahu)