CANBERRA, Feb 3 (Reuters) - U.S. corn futures edged lower on Wednesday, extending losses into a second straight session, although strong demand for U.S. supplies cushioned losses.
FUNDAMENTALS
* The most-active corn futures on the Chicago Board Of Trade were down 0.1% at $5.42 a bushel by 0111 GMT. Corn fell 1.1% on Tuesday, a day after hitting a June 2013 high of $5.54 a bushel.
* The most-active soybean futures were down 0.2% at $13.51-1/4 a bushel, having closed 0.8% lower on Tuesday.
* The most-active wheat futures were little changed at $6.45 a bushel, having closed down 1% on Tuesday.
* The U.S. Department of Agriculture last week reported massive sales of U.S. corn to China, with traders looking ahead to next week's monthly supply and demand report from the agency to see the impact of recent exports on U.S. corn stockpiles.
* Argentine grains exports were disrupted by roadblocks set up by truckers around ports in Buenos Aires province, with the protests expected to move north to the country's main shipping hub of Rosario, local industry sources said on Tuesday.
* Despite Russia's export tax, top wheat importer Egypt bought 120,000 tonnes of Russian wheat for shipment March 15-30, in addition to purchases from France, Ukraine and Romania totalling 480,000 tonnes.
MARKET NEWS
* The dollar rose to two-month highs against the euro on Tuesday as markets saw the U.S. as likely to rebound sooner than Europe from the coronavirus pandemic. * Asian markets moved higher during early trading as governments around the world looked poised to boost spending to help economies recover from the coronavirus and vaccine roll-out programs accelerated.
(Reporting by Colin Packham; Editing by Devika Syamnath)
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