×

GRAINS-Soybean prices set for biggest weekly gain in nearly 2 months

SYDNEY, Sept 15 (Reuters) - U.S. soybean prices eased slightly on Friday, but remained on track to notch up their biggest weekly gain in nearly two months, buoyed by robust export demand.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board of Trade were up nearly 1.5 percent for the week.

* The most active corn futures were down nearly 1 percent for the week, set for their first weekly loss in three weeks.

* The most active wheat futures were up 1 percent for the week, after closing last week little changed.

* The U.S. Department of Agriculture reported export sales of U.S. soybeans in the latest week at 1.6 million tonnes, topping a range of trade expectations for 1.0 million to 1.3 million tonnes.

* The USDA also said private exporters sold another 198,000 tonnes of U.S. soybeans to China.

MARKET NEWS

* The yen and the Swiss franc edged higher on Friday after North Korea fired a missile over Japan into the Pacific Ocean.

* Oil prices were lower on Friday but largely held gains that had prices flirting with multi-month highs, as the cleanup after hurricanes in the United States gathered pace and the outlook for demand took on a firmer tone.

* Rising shares of Boeing pulled the Dow Jones Industrial Average up to a record high on Thursday, while the S&P 500 fell as investors saw higher-than-expected inflation increasing the chances of an interest rate hike.

DATA/EVENT AHEAD (GMT)

0900 Euro zone Eurostat trade Jul 0900 Euro zone Labour costs Q2 1230 U.S. New York Fed manufacturing Sep 1230 U.S. Retail sales Aug 1315 U.S. Industrial output Aug 1400 U.S. Business inventories Jul 1400 U.S. University of Michigan sentiment index Sep

European Union finance ministers and central bank governors meet

Grains prices at 0118 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 442.00 -1.00 -0.23% -0.28% 447.37 60 CBOT corn 353.25 -1.00 -0.28% +0.50% 362.37 45 CBOT soy 975.25 -0.75 -0.08% +1.54% 950.62 64 CBOT rice 12.81 $0.00 +0.00% -1.08% $12.65 54 WTI crude 49.70 -$0.19 -0.38% +0.81% $48.15 63

Currencies

Euro/dlr $1.190 -$0.001 -0.12% +0.16% USD/AUD 0.7990 -0.001 -0.19% +0.08%

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

(Reporting by Colin Packham; Editing by Joseph Radford)