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GRAINS-Soybeans fall, hit 13-month low as South American production weighs

SYDNEY, May 30 (Reuters) - U.S. soybeans fell on Tuesday to hit a fresh 13-month low as aggressive selling of record South 

American production pushed the oilseed towards a third consecutive daily loss. 

 

FUNDAMENTALS 

* The most active soybean futures on the Chicago Board Of Trade Sv1 fell 0.3 percent to $9.24 a bushel by 0127 GMT, near the session low of $9.23 3/4 a bushel - the lowest since April 2016. Soybeans closed down 1.4 percent on Friday. 

 

* The most active corn Cv1 fell 0.5 percent to $3.72-1/4 a bushel, having gained 1.4 percent in the previous session. 

 

* The most active wheat Wv1 fell 0.3 percent to $4.37 a bushel, having closed up 1.7 percent on Friday. 

 

* Record South American soybean production weighs on prices, with Brazilian farmers looking to accelerate sales after a drop in the local currency. 

 

* Wheat draws some support from recent wet weather across key growing regions, which may damage maturing crops. 

 

MARKET NEWS 

 

* Brazilian farmers are rushing to sell soybeans after a 7 percent drop in the real currency made their supplies more affordable than exports from the United States. USD/ 

 

* U.S. crude oil prices rose towards $50 per barrel on Tuesday as a strong start to the summer driving season in the United States suggested strong fuel demand in months ahead. O/R 

 

* U.S. stocks ended little changed on Friday ahead of the long holiday weekend, though indexes ended a two-week streak of losses and consumer shares were strong for a second day

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