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GRAINS-Corn recovers from 3-mth low as crop tour forecasts weaker yields

* Corn firms after 2 days of losses, soybeans up for 2nd session * Pro Farmer crop tour sees lower yields in Nebraska, Indiana (Adds comment, detail) By Naveen Thukral SINGAPORE, Aug 21 (Reuters) - Chicago corn futures edged up on Wednesday to recover from their lowest in more than three months, buoyed after a U.S. crop tour forecast lower yields. Soybean prices gained for a second session, while wheat inched up after two days of losses. The most-active corn contract on the Chicago Board of Trade had risen 0.3% to $3.69-3/4 a bushel by 0229 GMT, after dropping on Tuesday to its lowest since May 15 at $3.68 a bushel. Soybeans added 0.3% to $8.70-1/2 a bushel and wheat gained 0.2% to $4.67-1/4 a bushel. "The market is looking at the crop tour and there is some support," said Darin Friedrichs, Shanghai-based Senior Asia commodity analyst at INTL FCStone. "Last night prices were under pressure, the weather forecast looks fine as of now but there will be concerns over yields if it gets too cold in September as the crop was planted late." A closely watched crop tour in the U.S. Midwest is forecasting lower corn yields than last year. The Pro Farmer Midwest Crop Tour estimated Nebraska corn yields at 172.55 bushels per acre (bpa), down from 179.17 bpa in 2018 but up from the tour's three-year average of 167.73 bpa for the country's No. 3 corn state. Indiana corn yields were projected lower than a year ago at 161.46 bushels per acre, the tour said. The wheat market is facing headwinds from abundant global supplies. Ukraine's 2019 wheat harvest is expected to rise to 27.72 million tonnes from 24.83 million tonnes last year, according to data from grain trader union UZA. Wheat exports could reach 21 million tonnes in the 2019/20 season, which started on July 1, compared with 15.53 million tonnes in 2018/19, the forecast data showed on Tuesday. The U.S. Department of Agriculture this month trimmed its projection of 2019/20 world wheat ending stocks to 285.4 million tonnes, down from 286.46 million in July, but still at a record size. Commodity funds were net sellers of CBOT corn, wheat and soyoil futures contracts on Tuesday and net buyers of soybeans and soymeal futures, traders said. Grains prices at 0229 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 467.25 0.75 +0.16% -2.20% 498.20 29 CBOT corn 369.75 1.00 +0.27% -2.89% 415.53 27 CBOT soy 870.50 2.25 +0.26% -1.05% 891.69 46 CBOT rice 11.29 $0.01 +0.09% +0.80% $11.72 23 WTI crude 56.28 $0.15 +0.27% +0.12% $56.05 Currencies Euro/dlr $1.110 $0.002 +0.18% +0.06% USD/AUD 0.6781 0.002 +0.28% +0.01% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Naveen Thukral; Editing by Richard Pullin and Joseph Radford)

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