CANBERRA, March 4 (Reuters) - U.S. soybean futures edged higher on Thursday, as rains were expected to slow harvesting across Brazil, stoking worries about short-term supply crunch of the oilseed.
FUNDAMENTALS
* The most active soybean futures on the Chicago Board Of Trade were up 0.5% to $14.14-1/4 a bushel by 0218 GMT, having closed down 0.4% on Wednesday.
* The most active corn futures were up 0.3% to $5.37 a bushel, having closed down 1.8% in the previous session.
* The most active wheat futures were up 0.3% at $6.58-1/4 a bushel, after closing down 1.5% on Wednesday.
* Rain are delaying Brazil's harvest.
* The U.S. Department of Agriculture (USDA) will release its latest weekly export sales data later in the day.
* U.S. soybean sales in the week ended Feb. 25 are expected to total 100,000 to 800,000 tonnes, according to analysts.
* Weekly sales are estimated at 450,000 to 1.05 million tonnes for corn and 100,000 to 600,000 tonnes for wheat.
MARKET NEWS
* The dollar hit a seven-month high against the yen, as an orderly rise in U.S. Treasury yields lent support ahead of a speech by Federal Reserve Chairman Jerome Powell that may determine the trend for global bond markets and currencies.
* Oil prices rose for a second straight session, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day underpinned alongside a drop in U.S. fuel inventories.
* The Japanese yen hit a seven-month low on the dollar as hopes that vaccine distribution and more government stimulus will drive the U.S. economy into a solid rebound lifted the greenback and benchmark Treasury yields.
(Reporting by Colin Packham; Editing by Rashmi Aich)
