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GRAINS-Corn falls but set to finish the month up 4%

SYDNEY, June 28 (Reuters) - U.S. corn futures fell on Friday as warm weather across a key producing region eased fears of potential crop damage, although the grain was still set for monthly gains of more than 4% on worries about completing planting.

FUNDAMENTALS

* Favourable weather across the United States weighed on the grain complex.

* The most active corn futures on the Chicago Board Of Trade were down 0.5% in early trade on Friday, but were up more than 4% for the month, extending gains into a third straight month.

* The most active soybean futures eased 0.1 percent but have risen 1% so far in June, the second straight monthly gain.

* The most active wheat futures eased 0.4 percent, but are up 8% for the month, extending two-month gains to more than 25%.

* Hot weather in Europe stokes fears of damage to wheat crops.

* Market focused on Friday's U.S. Department of Agriculture (USDA) acreage and quarterly stocks reports, before the end of the month and quarter.

* Weekly export sales of corn and soy were within the range of trade expectations. Corn sales last week totalled about 405,000 tonnes for shipment in the current and upcoming crop years, while soybean sales were about 487,700 tonnes, USDA said.

* Wheat export sales jumped to nearly 612,000 tonnes, topping trade expectations.

MARKET NEWS

* The dollar held steady against most major currencies on Thursday as traders moved to the sidelines in advance of this weekend's G20 summit where China and the United States may reach a truce on their trade conflict.

* Oil prices edged higher on Thursday on expectations that OPEC will extend an output cut agreement, while investors awaited a meeting between the United States and China that could produce a breakthrough on trade talks.

* The S&P 500 and the Nasdaq closed higher in a broad-based rally on Thursday as investors looked to the G20 summit in Osaka, Japan this weekend for progress in the long-running U.S.-China trade dispute, which has whipsawed markets for months.

Grains prices at 0028 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 544.75 -2.00 -0.37% +0.88% 514.29 67CBOT corn 438.00 -2.00 -0.45% -2.12% 423.95 50CBOT soy 887.25 -0.50 -0.06% -1.80% 872.25 47CBOT rice 11.56 $0.06 +0.52% +1.36% $11.80 37WTI crude 59.47 $0.04 +0.07% +0.15% $56.33 73

Currencies

Euro/dlr $1.137 $0.000 +0.04% +0.04%USD/AUD 0.7008 0.000 +0.00% +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)