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GRAINS-Soybeans extend losses, planting delays caps fall

SYDNEY, June 20 (Reuters) - U.S. soybean futures edged lower for a second straight session on Thursday, though losses were checked by concerns that wet weather across a key producing region will prevent farmers from completing their planting. FUNDAMENTALS * The most active soybean futures on the Chicago Board Of Trade were down 0.2% to $9.01-1/4 a bushel by 0037 GMT, having closed down 1.1% on Wednesday. * The most active corn futures were little changed at $4.40-1/4 a bushel, having closed down 1.9% in the previous session. * The most active wheat futures were down 0.6% at $5.19-1/4 a bushel, having closed down 1.7% on Wednesday. * Heavy rains across the Midwest threaten to delay planting of both corn and soybeans. * Both crops are lagging well behind historical average levels, but the biggest concern centres around corn, which has an earlier planting window. * Egypt's state grains buyer purchased 290,000 tonnes of wheat in an international tender. It bought 110,000 tonnes of Russian and 180,000 tonnes of Romanian wheat. MARKET NEWS * The dollar weakened on Wednesday and risk assets benefited after the U.S. Federal Reserve announced it held interest rates steady in June, but signalled a possible rate cut by the end of the year. * Oil prices rose over 1% on Thursday as official data showed U.S. crude stocks fell more than expected and as OPEC and other producers finally agreed a date for a meeting to discuss output cuts. * The S&P 500 approached a record high on Wednesday after the Federal Reserve signalled potential interest cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth. Grains prices at 0037 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 519.25 -3.00 -0.57% -2.30% 493.11 53 CBOT corn 440.75 -0.25 -0.06% -2.00% 409.71 63 CBOT soy 901.25 -2.00 -0.22% -1.34% 858.27 66 CBOT rice 11.31 -$0.05 -0.48% -2.20% $11.43 33 WTI crude 54.51 $0.75 +1.40% +1.13% $56.92 57 Currencies Euro/dlr $1.125 $0.003 +0.25% +0.55% USD/AUD 0.6896 0.001 +0.22% +0.29% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham; Editing by Subhranshu Sahu)

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