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GRAINS-U.S. soybeans fall on USDA crop report

SYDNEY, Aug 6 (Reuters) - U.S. soybean futures edged lower on Tuesday after the U.S. Department of Agriculture said the condition of the North American crop was ahead of expectations, adding to market sentiment already soured by an escalating U.S.-China trade war.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were down 0.1% to $8.67-1/2 a bushel by 0103 GMT, having closed little changed on Monday.

* The most active corn futures were unchanged at $4.14-3/4 a bushel, having gained 1.3% in the previous session.

* The most active wheat futures were down 0.5% at$4.92-1/4 a bushel, having closed up 0.8% on Monday.

* The USDA said 57% of the U.S. corn crop is in good-to-excellent condition, matching analysts' expectations.

* The USDA said 73% of the U.S. wheat crop is in good-to-excellent condition, ahead of analysts' forecasts.

* The USDA said 54% of the U.S. soybean crop is in good-to-excellent condition, slightly ahead of market forecasts.

* China's Commerce Ministry said that Chinese companies have stopped buying U.S. agricultural products, and that it will not rule out imposing import tariffs on U.S. farm products that were purchased after Aug. 3.

* U.S. President Donald Trump last week said he would impose an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, citing insufficient progress in trade talks between the world's two largest economies.

* Forecasts of cooler and wetter conditions across the U.S. Midwest raised new concerns about how much of the current crop might be lost - as well as how much of the corn and soybean yields might be hampered by the stress of excess moisture.

MARKET NEWS

* China's offshore yuan fell to an all-time low on Tuesday after the Trump administration labelled Beijing a currency manipulator, marking a sharp escalation in the bruising trade war between the world's two largest economies.

* Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world's two biggest buyers.

* Wall Street slumped on Monday and futures pointed to more losses to come after a fall in China's yuan currency and U.S. President Donald Trump's vow to impose additional tariffs on Chinese goods escalated the U.S.-China trade war.

DATA/EVENTS (GMT)

0130 Australia Trade Balance G&S June0430 Australia RBA Cash Rate Aug0600 Germany Industrial Orders MM June

Grains prices at 0103 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 492.25 -2.25 -0.46% +0.31% 506.44 46CBOT corn 414.75 0.00 +0.00% +1.28% 432.45 39CBOT soy 867.50 -1.25 -0.14% -0.12% 902.23 30CBOT rice 11.41 -$0.03 -0.22% -2.56% $11.78 27WTI crude 54.39 -$0.30 -0.55% -2.28% $57.33 38

Currencies

Euro/dlr $1.124 $0.004 +0.31% +1.17%USD/AUD 0.6774 0.002 +0.27% -0.37%

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

(Reporting by Colin Packham; editing by Uttaresh.V)