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GRAINS-Soybeans edge higher, hovers near two-month high

SYDNEY, Oct 25 (Reuters) - U.S. soybeans edged higher on
Tuesday, hovering near a two-month high hit in the previous
session, as strong demand for the oilseed supported prices.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade rose 0.1 percent to $9.92-3/4 a bushel, having
firmed 0.9 percent on Monday, when prices hit a high of
$9.99-3/4 a bushel - the highest since Aug. 25.
    * The most active corn futures fell 0.1 percent to
$3.47-3/4 a bushel, having closed down 1.2 percent in the
previous session.
    * The most active wheat futures was little changed at
$4.02-3/4 a bushel, having closed down 2.5 percent on Monday. 
    * Soybeans draw support from rising prices of vegetable oil.
    * The U.S. Department of Agriculture said the soybean
harvest was 76 percent complete and the corn harvest 61 percent
done, each in line with pre-report estimates and their five-year
average progress.  
    * USDA said 2.7 million tonnes of soybeans were inspected
for export in the week ended Oct. 20, compared with 541,527
tonnes of corn and 244,331 tonnes of wheat. The soybean
shipments were above the high-end of analysts' expectations.
  
    * Demand for U.S. wheat was limited. Wheat prices in Russia
gained for the fifth straight week, prompted by recent purchases
of Russian wheat by top importer Egypt. 
         
    MARKET NEWS  
    * The dollar held near nine-month highs against a basket of
major currencies on Tuesday as solid U.S. manufacturing activity
and comments from a Federal Reserve official cemented
expectations of a U.S. rate hike by year-end.  
    * Oil prices dipped on Monday, with U.S. crude briefly
falling below $50 per barrel, on news of the impending restart
of Britain's Buzzard oilfield and Iraq's wish to be exempted
from OPEC production cuts.  
    * The S&P 500 hit a two-week high on Monday on the back of
strong earnings, while a flurry of acquisitions indicated
corporate America continues to see untapped value in the market.
  
    
    DATA (GMT)
0800   Germany  IFO business climate index   Oct 
1300   U.S.     Home price index             Aug 
1400   U.S.     Consumer confidence index    Oct 
    
    
 Grains
 prices at
  0108 GMT
 Cont  Last  Chan   Pct  Two-    MA  RSI 
 ract          ge   chg   day    30  
                          chg        
 CBOT  402.  0.25  +0.0  -3.4  405.    39
 whea    75          6%    2%    62  
 t                                   
 CBOT  347.  -0.5  -0.1  -0.9  341.    49
 corn    75     0    4%    3%    47  
 CBOT  992.  0.75  +0.0  +1.7  962.    71
 soy     75          8%    7%    83  
 CBOT  9.89  $0.0  +0.3  -4.2  $10.    33
 rice           4    6%    6%    00  
 WTI   50.4  -$0.  -0.1  -0.7  $48.    55
 crud     6    06    2%    7%    06  
 e                                   
 Curr                                    
 enci                                
 es                                  
 Euro  $1.0  -$0.  -0.1  -0.5            
 /dlr    87   001    2%    4%        
 USD/  0.75  0.00  -0.0  -0.3            
 AUD     99     0    4%    3%        
 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)
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