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GRAINS-Soybeans rebound from 3-week low, fears of trade talk failure cap gains

SYDNEY, Feb 12 (Reuters) - U.S. soybean futures rose on Tuesday, rebounding from a three-week low touched in the previous session, though gains were checked amid concerns that Washington and Beijing may fail to clinch a trade deal by a March 1 deadline. FUNDAMENTALS * The most active soybean futures on the Chicago Board Of Trade were up 0.4 percent at $9.08-1/2 a bushel by 0204GMT, having lost 1 percent on Monday when prices hit $9.03-1/2 a bushel - the lowest since Jan. 22. * The most active corn futures were up 0.4 percent at $3.74-1/4 a bushel, having closed down 0.4 percent in the previous session when prices hit $3.71-3/4 a bushel - the lowest since Jan. 15. * The most active wheat futures were up 0.1 percent at$5.19 a bushel, having closed up 0.2 percent on Tuesday. * Negotiators from the United States and China, the world's top soybean buyer, are trying to hammer out a trade deal before a March 1 deadline, when U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent. * The USDA last week lowered estimates of U.S. 2018 corn yield and production, but raised forecasts of 2018-19 U.S. and global corn ending stocks more than most analysts had expected. * The USDA also raised its estimate of Argentina's corn harvest to 46 million tonnes, from 42.5 million tonnes previously. * Improving weather overshadowed a smaller Brazilian soy crop estimate from agribusiness consultancy AgRural. The firm pegged the harvest at 112.5 million tonnes, down from 116.9 million tonnes previously. MARKET NEWS * The dollar held close to its 2019 high on Tuesday as U.S.-Sino trade tensions and global growth worries underpinned the greenback's safe-haven appeal, while the euro and the British pound were hurt by troubles of their own. * Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although surging U.S. production and concerns over economic growth kept markets in check. * Wall Street see-sawed on Monday, rarely straying far from opening levels as investors eyed ongoing U.S.-China trade talks, potential congressional gridlock and a diminished 2019 earnings outlook. DATA/EVENTS (GMT) 0030 Australia Housing Finance Dec 1200 India Industrial Output Dec 1500 US JOLTS Job Openings Dec Grains prices at 0204 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 519.00 0.75 +0.14% +0.34% 517.56 49 CBOT corn 374.25 1.50 +0.40% +0.00% 378.12 40 CBOT soy 908.50 3.50 +0.39% -0.66% 913.31 40 CBOT rice 10.31 $0.04 +0.39% -0.53% $10.59 31 WTI crude 52.54 $0.13 +0.25% -0.34% $51.86 47 Currencies Euro/dlr $1.128 $0.001 +0.05% -0.41% USD/AUD 0.7076 0.002 +0.24% -0.17% 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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