GRAINS-Wheat steady, set for third straight weekly decline

* Wheat headed to finish the week down 4 percent

* Fears of tight U.S. supplies ease

* Corn and soybeans edge lower despite weather threat

SYDNEY, July 28 (Reuters) - U.S. wheat remained steady on Friday and was poised to finish the week down 4 percent as fears of tighter global supplies waned despite the dry weather across North America. Corn and soybeans edged down, disregarding forecasts of adverse weather conditions across key growing regions. The most active wheat futures on the Chicago Board Of Trade were unchanged at $4.79-3/4 a bushel, after closing up 0.4 percent in the previous session. Analysts said wheat was struggling to find market direction in the absence of fresh news about fundamentals. "Prices are now firmly back in the range that bored the market silly for much of the past year," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia. There were confirmed reports of widespread production losses for U.S. high quality supplies from a widely watched crop tour. However, wheat is still poised for a third straight weekly decline. The 2017 U.S. hard red spring wheat crop was projected to yield 38.1 bushels per acre (bpa), scouts on the Wheat Quality Council's annual crop tour said on Thursday, down from the tour's 2016 forecast of 45.7 bpa and the tour's prior five-year average of 46.8 bpa. The most active soybean futures slipped 0.13 percent to $10.04-1/4 a bushel, after closing up 0.7 percent on Thursday. Soybeans are down nearly 2 percent for the week, on course for the biggest weekly loss in five weeks. The most active corn futures lost 0.13 percent to $3.87-1/4 a bushel. Corn is down more than 1.5 percent for the week after closing up 1 percent in the previous week.

Grains prices at 0400 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 479.75 0.00 +0.00% +0.42% 502.73 35 CBOT corn 387.25 -0.50 -0.13% +0.32% 393.13 45 CBOT soy 1004.25 -3.25 -0.32% +0.40% 979.92 48 CBOT rice 12.34 $0.02 +0.16% +0.49% $11.87 77 WTI crude 48.89 -$0.15 -0.31% +0.29% $45.54 73


Euro/dlr $1.168 $0.001 +0.07% -0.41% USD/AUD 0.7957 -0.001 -0.08% -0.55%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Colin Packham; Editing by Sherry Jacob-Phillips)