GRAINS-Soybeans dip, still set for first weekly gain in over a month

(Updates prices, changes dateline/byline)

* Soybeans draw support from strong U.S. exports

* Corn on course for fifth straight weekly slide

* Wheat set for sixth weekly fall in seven weeks

SYDNEY/PARIS, Aug 25 (Reuters) - U.S. soybeans edged lower on Friday, although the oilseed was poised to record its first weekly gain in more than a month as strong export demand provided support. Corn eased, with the grain on course to finish the week down 3 percent, its fifth consecutive weekly decline, while wheat was on track for a weekly fall. The most active soybean futures on the Chicago Board Of Trade were down 0.2 percent at $9.44-1/4 a bushel at 1134 GMT after closing up 0.9 percent in the previous session. Buoyed by strong export demand, soybeans were up 0.7 percent for the week, the first weekly gain since July 21. "The export demand has provided some support but I think without some weather concerns potentially damaging the crop, it is hard to see this rally being extended," said Phin Ziebell, agribusiness economist, National Australia Bank. Weekly U.S. soybean export sales of more than 2 million tonnes for the shipping season that starts on Sept. 1 topped analyst estimates of 400,000 to 600,000 tonnes, U.S. Department of Agriculture (USDA) data showed. More than half of the sales were bound for China., Analysts also noted the threat of Hurricane Harvey rainfall that could hamper vessel loadings at the Gulf. Commerzbank noted that the International Grains Council in its latest report forecast that the global soybean market would show a deficit of 4 million tonnes, down from a previous estimate of 5 million tonnes. That was still far from the USDA's estimate of a surplus of 4 million tonnes. The most active wheat futures were up 0.4 percent at $4.36-1/2 a bushel after closing up 0.7 percent in the previous session. Wheat was down nearly 1.4 percent for the week after gaining 0.7 percent last week. The most active corn futures were down 0.3 percent at $3.55-1/4 a bushel after closing 0.1 percent lower on Thursday. Corn was down nearly 3 percent for the week, the fifth consecutive weekly fall as ample global supplies pushed prices to a near five-month low on Thursday. Iowa corn yields are projected to fall about 4.5 percent from last year's bumper crop, scouts on an annual tour said on Thursday after surveying 452 fields across the top U.S. corn-producing state.

Prices at 1134 GMT

Last Change Pct End Ytd Move 2016 Pct


CBOT wheat Mar 436.25 1.75 0.40 408.00 6.92 CBOT corn Mar 355.25 -1.00 -0.28 352.00 0.92 CBOT soy Mar 944.25 -2.25 -0.24 1004.00 -5.95 Paris wheat Dec 161.75 1.25 0.78 175.00 -7.57 Paris maize Nov 159.75 0.25 0.16 170.00 -6.03 Paris rape Aug 370.25 -1.75 -0.47 380.25 -2.63 WTI crude oil 47.75 0.32 0.67 53.72 -11.11 Euro/dlr 1.18 0.00 0.17

Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne

(Reporting by Colin Packham and Sybille de La Hamaide; Editing