SYDNEY, Feb 2 (Reuters) - U.S. wheat futures edged lower on Friday, but the market was poised to finish the week up more than 2 percent as concerns that frigid weather conditions across the United States will crimp production.
* The most active wheat futures on the Chicago Board Of Trade climbed 2 percent for the week, set to post their third consecutive weekly gain.
* The most active corn futures gained 1.4 percent for the week, on track for a third straight weekly rise.
* The most active soybean futures up nearly 1 percent for the week, set for a second straight weekly gain.
* Wheat draws support on concerns that dry weather across the country will damage yields.
* Net U.S. soybean export sales last week totalled just 409,700 tonnes, well below trade expectations and the lowest in eight months, according to USDA data.
* Broker and consultancy INTL FCStone on Thursday raised its Brazilian soybean harvest forecast to 111.08 million tonnes, up about 1 million from its January outlook and above the USDA's latest estimate of 110 million tonnes.
* Net corn export sales of nearly 1.9 million tonnes last week topped trade expectations. 1/2EXP/CORN 3/8
* The dollar nursed losses against a basket of currencies on Friday, on track for a weekly fall as investors focused on renewed economic strength in the eurozone.
* U.S. oil rose for a third day on Friday after a survey showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging U.S. production.
* Wall Street stocks gave up early gains on Thursday as bond yields rose and technology stocks retreated ahead of a host of high-profile earnings.
DATA AHEAD (GMT)
1000 Euro zone Producer prices Dec 1330 U.S. Nonfarm payrolls Jan 1330 U.S. Unemployment rate Jan 1445 U.S. ISM-New York index Jan 1500 U.S. Factory orders Dec
Grains prices at 0148 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 450.25 -0.75 -0.17% -0.33% 432.13 69 CBOT corn 361.50 -0.25 -0.07% +0.00% 353.08 73 CBOT soy 985.25 0.25 +0.03% -1.05% 973.29 54 CBOT rice 12.37 -$0.04 -0.28% -0.56% $12.08 72 WTI crude 66.04 $0.24 +0.36% +2.02% $62.78 68
Euro/dlr $1.249 -$0.001 -0.12% +0.59% USD/AUD 0.8008 -0.003 -0.37% -0.57%
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)