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GRAINS-Wheat falls nearly 1 pct, still set to end week higher

SYDNEY, April 13 (Reuters) - U.S. wheat futures fell nearly 1 percent on Friday, extending three-day losses to more than 3 percent, as ample global supplies weighed, though the grain was poised to finish in positive territory for the second straight week as the U.S. wheat crop suffers from adverse weather.

FUNDAMENTALS The most active wheat futures on the Chicago Board Of Trade up more than 1 percent for the week, the second consecutive weekly gain.

* The most active soybean futures up 3 percent for the week, the biggest weekly gain in two months. The most active corn futures up marginally for the week, the third straight weekly gain.

* Wheat under pressure as traders focus on plentiful global stockpiles and sluggish demand for U.S. supplies.

* The USDA on Tuesday raised its forecast of world wheat stocks at the end of the 2017/18 marketing year to 271.2 million tonnes, an all-time high.

* The U.S. Department of Agriculture reported export sales of U.S. wheat in the latest week at 188,700 tonnes (old and new crop years combined), below trade expectations.

* Argentina purchased an additional 120,000 tonnes of soybeans from the United States on Wednesday after buying the same volume on Tuesday, unusual moves that have prompted prices of the oilseed on local markets to fall.

* The USDA reported export sales of U.S. soybeans in the week to April 5 at 2,464,500 tonnes (old and new crop years combined), topping a range of trade expectations. Sales of old-crop soybeans topped 1.5 million tonnes, the most in five weeks.

MARKET NEWS

* The dollar firmed against its peers on Friday, supported as an improvement in investor risk appetite lifted equities and pushed U.S. yields significantly higher.

* Oil prices held steady on Thursday, remaining close to highs last reached in late 2014 on tensions over Syria and shrinking global oil inventories.

* U.S. stocks climbed on Thursday as investors anticipated a strong earnings season and as U.S. President Donald Trump's suggestion that a military strike on Syria may not be imminent ratcheted down geopolitical worries.

DATA AHEAD (GMT)

* China Trade data Mar

0900 Euro zone Eurostat trade Feb 1400 U.S. University of Michigan sentiment index Apr

*No fixed timing

Grains prices at 0113 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 477.50 -3.50 -0.73% -2.00% 473.75 53 CBOT corn 389.00 0.25 +0.06% +0.52% 384.64 59 CBOT soy 1064.50 3.75 +0.35% +1.60% 1042.47 68 CBOT rice 13.05 $0.17 +1.28% +1.91% $12.47 84 WTI crude 66.85 -$0.22 -0.33% +0.04% $63.41 67

Currencies

Euro/dlr $1.233 $0.000 +0.00% -0.32% USD/AUD 0.7768 0.001 +0.18% +0.18%

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

(Reporting by Colin Packham; Editing by Amrutha Gayathri)