SYDNEY, May 5 (Reuters) - U.S. wheat edged lower on Friday, extending two-losses to nearly 4 percent as fears of widespread production losses due to a recent frost eased, although the grain still looks set post a small weekly gain.
* The most active wheat futures on the Chicago Board Of Trade up about 1 percent for the week, the second straight weekly gain.
* The most active soybean futures up 1.7 percent for the week, the biggest weekly gain since Feb. 10.
* The most active corn futures little changed for the week.
* Wheat comes under heavy pressure in recent days as fears of production losses after recent cold weather across key growing regions ease.
* Wheat yield potential in Kansas was estimated at 46.1 bushels per acre (bpa), crop scouts on the annual Wheat Quality Council crop tour said on Thursday. That tops the tour's five-year average for the state.
* Concerns linger that recent wet weather in the United States may have washed away recently planted corn and soybeans crops.
* The euro traded near a six-month high against the dollar on Friday, supported by expectations that centrist Emmanuel Macron will win France's presidential election.
* Oil prices were marooned near five-months lows on Friday after a near 5 percent fall in the previous session on concerns over rising U.S. supply, wiping out all of the price gains since OPEC's move to curb output.
* Wall Street ended flat on Thursday as a steep fall for the energy sector countered some solid earnings reports, with major stock indexes closing little changed after the U.S. House of Representatives passed a healthcare overhaul.
DATA AHEAD (GMT)
1230 U.S. Nonfarm payrolls Apr 1230 U.S. Unemployment rate Apr
Grains prices at 0112 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 437.25 -0.50 -0.11% -3.69% 439.46 52 CBOT corn 367.25 0.75 +0.20% -2.00% 368.90 44 CBOT soy 973.50 -0.75 -0.08% -0.18% 963.71 63 CBOT rice 9.90 $0.00 -0.05% -0.10% $10.10 57 WTI crude 45.59 $0.07 +0.15% -4.66% $50.04 19
Euro/dlr $1.098 -$0.001 -0.08% +0.85% USD/AUD 0.7403 0.000 -0.05% -0.24%
Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential
(Reporting by Colin Packham; Editing by Richard Pullin)