SYDNEY, Aug 20 (Reuters) - U.S. corn futures edged higher on Tuesday as the U.S. Department of Agriculture said the condition of North American crops has deteriorated, though gains were checked amid ample global supplies.
FUNDAMENTALS
* The most active corn futures on the Chicago Board of Trade were up 0.6% at $3.76-3/4 a bushel by 0043 GMT, having closed down 1.6% in the previous session.
* The most active soybean futures were up 0.4% at $8.70-1/4 a bushel, having closed down 1.5% on Monday.
* The most active wheat futures were up 0.1% at $4.73-1/4 a bushel, having closed down 1% on Monday.
* U.S. Department of Agriculture in a weekly crop progress report rated 56% of the U.S. corn crop and 53% of U.S. soybeans in good to excellent condition, down from 57% and 54%, respectively, a week earlier.
* Analysts surveyed by Reuters on average had expected no change for ratings of either crop.
* Scouts travelling one route in northwestern Ohio on Monday found corn yield potential was below average after a wet spring delayed plantings.
MARKET NEWS
* The safe-haven yen and Swiss franc retreated against the dollar on Monday, as risk sentiment improved after a week of turmoil on hopes major central banks would launch fresh stimulus measures to lift their sluggish economies.
* Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen's Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a global slowdown.
* U.S. stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell.
DATA/EVENTS (GMT)
0600 Germany Producer Prices MM, YY July 1000 UK CBI Trends - Orders Aug Grains prices at 0043 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 473.25 0.75 +0.16% -0.94% 498.40 33
CBOT corn 376.75 2.25 +0.60% -1.05% 415.76 32
CBOT soy 870.25 3.75 +0.43% -1.08% 891.68 45
CBOT rice 11.04 $0.01 +0.05% -1.47% $11.71 24
WTI crude 56.10 -$0.11 -0.20% +2.24% $56.18 53 Currencies
Euro/dlr $1.108 $0.001 +0.06% -0.05%
USD/AUD 0.6757 0.000 -0.07% -0.34% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham; editing by Uttaresh.V)