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GRAINS-Soybeans poised for fifth straight weekly gain

SYDNEY, Sept 22 (Reuters) - U.S. soybeans were little changed on Friday, but were on track for a fifth straight weekly gain as strong demand for U.S. supplies underpins gains.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were up nearly 0.5 percent for the week, taking gains to more than 4 percent over the past five weeks.

* The most active corn futures were down nearly 1.5 percent for the week, the second straight weekly loss.

* The most active wheat futures were up nearly 1 percent for the week, extending two-week gains to more than 3 percent.

* Wheat was supported as excessive rains in Argentina have threatened yield prospects, while Australia's crop has suffered from persistent dryness in the east.

* The USDA reported export sales of U.S. soybeans in the latest week at more than 2.3 million tonnes, topping a range of trade estimates for 1.2 million to 1.5 million tonnes.

* USDA said private exporters sold 132,000 tonnes of U.S. soybeans to China.

MARKET NEWS

* The dollar weakened against a basket of currencies on Thursday, pulling back from a more than two-week peak as bets stoked by the Federal Reserve signalling it may raise interest rates in December abated.

* Oil prices held steady in early Asian trade on Friday as the market waited to see whether major oil producers would extend supply cuts beyond March at a meeting in Vienna later in the day.

* U.S. stock indexes slipped on Thursday as investors braced for a third interest rate hike this year and the United States ordered new sanctions against North Korea.

DATA AHEAD (GMT)

0645 France GDP final Q2 0700 France Markit manufacturing PMI flash Sep 0730 Germany Markit manufacturing PMI flash Sep 0800 Euro zone Markit manufacturing PMI flash Sep 1345 U.S. Markit manufacturing PMI flash Sep

Grains prices at 0054 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 452.50 0.00 +0.00% +0.61% 442.05 71 CBOT corn 350.25 0.00 +0.00% +0.07% 357.13 55 CBOT soy 970.75 0.00 +0.00% +0.08% 951.45 67 CBOT rice 12.73 $0.02 +0.16% -0.59% $12.70 55 WTI crude 50.60 $0.05 +0.10% +0.38% $48.31 70

Currencies

Euro/dlr $1.194 $0.000 +0.02% +0.42% USD/AUD 0.7909 -0.002 -0.28% -1.52%

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)