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GRAINS-Corn slips, though recent crop damage caps losses

SYDNEY, June 26 (Reuters) - U.S. corn futures edged lower on Wednesday, though losses were checked after the U.S. Department of Agriculture (USDA) said the condition of the North American crop deteriorated following recent unfavourable weather.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were down 0.4% at $4.45-3/4, as of 0059 GMT, having gained 0.1% in the previous session.

* The most active soybean futures were down 0.4% at $9.00 a bushel, having ended 0.6% weaker on Tuesday.

* The most active wheat futures were down 0.2% $5.38-3/4 a bushel, having closed down 0.5% on Tuesday.

* The USDA said 96% of corn is planted and 77% of soybeans, as of Sunday. At the same point last year, all U.S. corn acres and 93% of soybeans were planted.

* The USDA also rated 56% of the U.S. corn crop in good-to-excellent condition, down from 59% last week and behind market expectations of 59%.

* Some 54% of U.S. soybeans were seen in good-to-excellent condition, below expectations of 59%.

* The USDA said 61% of U.S. winter wheat was in good-to-excellent condition, down from 64% last week.

MARKET NEWS

* The dollar fell against most major currencies on Tuesday, hitting a three-month low against the euro, as expectations of multiple decreases of U.S. interest rates by the Federal Reserve have spurred selling of the U.S. currency.

* Oil prices rose over 1% on Wednesday to hit their highest in nearly a month as widely watched data showed U.S. crude stockpiles fell more than expected, underpinning a market already buoyed by worries over potential U.S.-Iran conflict.

* Wall Street stock indexes fell on Tuesday, led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while the Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates.

Grains prices at 0059 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 538.75 -1.25 -0.23% -0.69% 510.98 61CBOT corn 445.75 -1.75 -0.39% -0.22% 421.75 60CBOT soy 900.00 -3.50 -0.39% -0.99% 870.72 56CBOT rice 11.39 $0.00 -0.04% +1.88% $11.46 26WTI crude 58.82 $0.99 +1.71% +1.59% $56.51 73

Currencies

Euro/dlr $1.136 $0.000 -0.04% -0.32%USD/AUD 0.6960 0.000 +0.04% -0.01%

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

(Reporting by Colin Packham, Editing by Sherry Jacob-Phillips)