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GRAINS-Soybeans gain; all eyes on USDA report – Reuters Africa

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    SYDNEY, Sept 12 (Reuters) - U.S. soybeans rose more than
0.5% on Thursday, as traders squared positions ahead of a widely
watched U.S. Department of Agriculture (USDA) report scheduled
to be released later in the session.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade were up 0.7% at $8.72-1/2 a bushel by 0105 GMT,
having closed down 0.6% on Wednesday.
    * The most active corn futures were up 0.4% at
$3.61-1/2 a bushel, having closed down 0.4% in the previous
session.
    * The most active wheat futures were up 0.2% at
$4.78-1/4 a bushel, having closed down 0.7% on Wednesday. 
    * The market is awaiting a USDA report, which is expected to
show smaller U.S. corn and soybean crops after the agency sprung
a surprise last month with a higher-than-anticipated forecast.

    * Warmer-than-normal weather across much of the U.S. Midwest
is expected to accelerate the maturity of late-planted crops,
reducing the risk that frost would damage yields.
         
    MARKET NEWS  
    * The euro fell to a one-week low against the greenback on
Wednesday, a day before the European Central Bank is expected to
add further stimulus in a bid to boost the region's economy.
  
    * Oil prices tumbled more than 2% on Wednesday after a
report that U.S. President Donald Trump weighed easing sanctions
on Iran, which could boost global crude supply at a time of
lingering worries about global energy demand.  
    * Wall Street moved higher on Wednesday, led by
tariff-sensitive technology and industrial stocks after China
extended an olive branch ahead of next month's trade
negotiations with the United States.  
        
 Grains prices at  0105 GMT
 Contract      Last   Change  Pct chg  Two-day chg    MA 30   RSI 
 CBOT wheat  478.25     0.75   +0.16%       -0.83%   478.28     57
 CBOT corn   361.50     1.50   +0.42%       +0.00%   378.34     38
 CBOT soy    872.50     6.00   +0.69%       +0.06%   870.04     51
 CBOT rice    12.09   -$0.01   -0.08%       +0.58%   $11.74     77
 WTI crude    56.26    $0.51   +0.91%       -1.99%   $55.23     51
 Currencies                                                       
 Euro/dlr    $1.101   $0.000   +0.03%       -0.28%                
 USD/AUD     0.6871    0.001   +0.15%       +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 Rashmi Aich)