SYDNEY, Feb 16 (Reuters) - U.S. soybeans took a breather on Friday, though the oilseed was poised to record its biggest weekly gain in seven months on fears dry weather in Argentina will crimp production.
* The most active soybean futures on the Chicago Board Of Trade surged more than 4 percent for the week, the biggest weekly gain since July 2017.
* The most active corn futures rose more than 1.5 percent for the week, the fifth straight weekly gain.
* The most active wheat futures up more than 3 percent for the week, extending five-week gains to more than 10 percent.
* Argentina could harvest fewer than 50 million tonnes of soybeans in the 2017-2018 crop year, the lead analyst at the Rosario grains exchange said on Wednesday, as a prolonged drought looks set to continue harming yields.
* The dryness in the heart of Argentina's Pampas grains belt is likely to persist through the second half of February, climate experts said.
* The U.S. Agriculture Department on Thursday said weekly export sales of corn totalled 2.072 million tonnes, topping market forecasts that ranged from 1 million to 1.6 million tonnes.
* The U.S. dollar fell across the board on Thursday, hitting a 15-month low against the yen late in the session, as negative sentiment about the U.S. currency outweighed a rise in 10-year Treasury yields to their highest levels in four years.
* Oil markets were mixed on Thursday with Brent flat even though the dollar slid, while U.S. crude rose as investors covered short positions.
* Wall Street surged on Thursday to notch its fifth straight session of gains, led by Apple and other technology stocks as investors shrugged off recent inflation worries that sent the market into a sell-off at the start of the month.
DATA AHEAD (GMT)
0700 Germany Wholesale price index Jan 0930 UK Retail sales Jan 1330 U.S. Housing starts Jan 1330 U.S. Building permits Jan 1330 U.S. Import prices Jan 1330 U.S. Export prices Jan 1500 U.S. University of Michigan sentiment index Feb
Grains prices at 0218 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 463.00 1.25 +0.27% +1.59% 441.13 61 CBOT corn 368.00 0.25 +0.07% +0.20% 357.51 71 CBOT soy 1024.00 -0.25 -0.02% +0.66% 984.48 76 CBOT rice 11.95 $0.00 +0.00% -2.45% $12.20 25 WTI crude 61.48 $0.14 +0.23% +1.45% $63.19 47
Euro/dlr $1.252 $0.001 +0.10% +0.56% USD/AUD 0.7943 0.000 +0.00% +0.25%
Most active contracts Wheat, corn, soy: US cents/bushel. Rice: USD per hundred weight RSI 14, exponential
(Reporting by Colin Packham; Editing by Gopakumar Warrier)