GRAINS-Wheat edges lower, set to finish the week up for third straight week

SYDNEY, Jan 5 (Reuters) - U.S. wheat edged lower on Friday, retreating for a second day, but was still poised to record a third straight week in positive territory due to concerns about sub-zero temperatures across a key U.S. growing region.


* The most active wheat futures on the Chicago Board Of Trade up nearly 1.5 percent for the week, adding to gains of 0.5 percent and 1.6 percent.

* The most active soybean futures up nearly 1 percent for the week, the second straight weekly rally.

* The most active corn futures down nearly 0.5 percent for the week after posting gains of 1.3 percent last week.

* Wheat draws support from fears that frigid temperatures across a key growing U.S. region threaten production.

* Soybeans under pressure as weather outlook for Argentina improves.


* The euro hovered near a three-year high against the sagging dollar on Friday, while improving investor risk appetite weighed on the yen.

* Oil prices held firm on Friday, with Brent crude up by more than 10 percent from its December lows on the back of political tensions in OPEC-member Iran and a tightening U.S. market.

* The Dow industrials broke above the 25,000 level for the first time on Thursday and other major indexes hit closing record highs again, propelled by strong global economic data that extended the New Year's rally for the stock market.


0700 Germany Retail sales Nov 1000 Euro Zone CPI Dec 1000 Euro Zone PPI Nov 1330 U.S. Empolyment data Dec 1330 U.S. Trade data Nov 1500 U.S. Factory orders Nov 1500 U.S. Durables orders Nov 1500 U.S. ISM Non-manufacturing business index Dec

Grains prices at 0205 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 433.00 -1.00 -0.23% -0.69% 426.94 66 CBOT corn 350.75 -0.25 -0.07% -0.64% 351.88 52 CBOT soy 969.25 1.50 +0.15% +0.05% 985.92 51 CBOT rice 11.72 $0.01 +0.09% +0.64% $12.22 30 WTI crude 61.96 -$0.05 -0.08% +0.54% $58.42 82


Euro/dlr $1.207 $0.000 +0.02% +0.48% USD/AUD 0.7845 -0.002 -0.23% +0.13%

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)