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GRAINS-Wheat falls to six-week low on U.S. conditions report

SYDNEY, April 23 (Reuters) - U.S. wheat futures edged lower on Tuesday as the U.S. Department of Agriculture said the condition of the crop was above market expectations, pushing prices to a six-week low. FUNDAMENTALS * The most active wheat futures on the Chicago Board of Trade were down 0.2 percent at $4.41 a bushel by 0059 GMT, near the session low of $4.40-1/4 a bushel - the lowest since March 13. Wheat closed down 1.5 percent on Monday. * The most active soybean futures were little changed at $8.77-1/4 a bushel, having closed down 0.4 percent on Monday. * The most active corn futures were down 0.3 percent to $3.62-1/2 a bushel, having gained 1.4 percent in the previous session. * The U.S. Department of Agriculture rated 62 percent of the U.S. winter wheat crop in good to excellent condition, up from 60 percent a week earlier. * Analysts surveyed by Reuters on average expected no change. * A year ago, the USDA rated just 31 percent of the crop as good to excellent. * The USDA said farmers had planted 6 percent of their intended corn acres by Sunday, behind the average trade estimate of 7 percent and the five-year average of 12 percent. * The government said soybean planting was 1 percent complete, compared with the five-year average of 2 percent. * In Ukraine, farmers have so far sown 2.1 million hectares of spring grain crops for the 2019 harvest, or 93 percent of the expected area, the agriculture ministry said. * The USDA said the U.S. spring wheat crop was 5 percent seeded, up from 2 percent a week ago but well behind the five-year average of 22 percent. * China detected new cases of African swine fever in Hainan province, the agriculture ministry said on Sunday. Authorities previously said they hoped the disease would not spread to Hainan, an island located off China's southern coast. MARKET NEWS * The dollar edged lower against a basket of currencies in thin holiday-impacted trading on Monday, while a jump in the price of oil on news Washington plans to tighten a clamp-down on Iranian oil exports in May boosted the Canadian dollar and the Russian ruble. * Oil prices hovered near 2019 peaks in early trading on Tuesday after Washington abruptly moved to end all Iran sanctions waivers by May, pressuring importers to stop buying from Tehran. Grains prices at 0059 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 441.00 -0.75 -0.17% -2.05% 464.89 24 CBOT corn 362.50 -1.00 -0.28% +1.12% 365.93 30 CBOT soy 877.25 0.25 +0.03% -0.37% 896.48 28 CBOT rice 10.44 -$0.01 -0.10% +0.14% $10.70 45 WTI crude 65.72 $0.17 +0.26% +2.69% $61.52 74 Currencies Euro/dlr $1.125 -$0.001 -0.09% -0.01% USD/AUD 0.7125 -0.001 -0.11% -0.38% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham; editing by Richard Pullin)

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