CANBERRA, March 2 (Reuters) - U.S. wheat futures fell on Tuesday for a fourth consecutive session, hitting their lowest level in two weeks on ample global supplies.
FUNDAMENTALS
* The most active wheat futures on the Chicago Board Of Trade were down 0.4% to $6.47-1/2 a bushel by 0236 GMT, near the session low of $6.47 a bushel - a level unseen since Feb 18. Wheat closed down 1.5% on Monday.
* The most active soybean futures were down 0.5% to $13.84-3/4 a bushel, having closed down 0.9% on Monday.
* The most active corn futures were down 0.9% to $5.33-1/4 a bushel, having closed down 1.7% in the previous session.
* The U.S. Department of Agriculture said 197 million bushels of U.S. soybeans were crushed in January, above expectations for 195.6 million bushels.
* In Brazil, farmers are expected to harvest 133.5 million tonnes of soybeans for 2020/21, up from a previous estimate of 132.8 million, according to broker StoneX.
* Consultancy Sovecon raised its forecast for Russia's 2020/21 wheat exports by 1.2 million tonnes to 39.1 million tonnes.
MARKET NEWS
* The dollar stood firm against its low-yielding peers on Tuesday on bets of a faster economic recovery and greater tolerance of higher U.S. bond yields, while the Australian dollar looked to guidance from the country's central bank.
* Asian shares are poised to rally as a halt in a recent bond markets sell-off calmed investor nerves and lifted riskier assets, although oil prices were on the defensive on fears of slowing Chinese energy consumption. (Reporting by Colin Packham; Editing by Subhranshu Sahu)
