Wires

GRAINS-Corn edges higher, set for first weekly loss in more than a month

SYDNEY, Oct 11 (Reuters) - U.S. corn futures edged higher on Friday, though the oilseed was poised to record its first weekly loss in more than a month after the U.S. Department of Agriculture pegged North American production above market estimates.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were down nearly 1% for the week.

* Corn fell to a Sep. 30 low of $3.78-1/4 a bushel on Thursday.

* The most active soybean futures were up 1% for the week, the second straight weekly gain.

* Soybeans hit a high of $9.34 a bushel - the highest since July 12.

* The most active wheat futures up nearly 0.5% for the week, the sixth straight weekly rally.

* The USDA, in its monthly supply and demand report, pegged the U.S. corn yield at 168.4 bushels per acre, compared with 168.2 bushels in September. Analysts were expecting a cut to 167.5 bushels.

* The agency reduced its soybean yield estimate to 46.9 bushels per acre from 47.9 bushels last month. Analysts were expecting 47.3 bushels.

* The USDA lowered its estimate for U.S. soybean ending stocks to 460 million bushels from 640 million last month.

* The USDA, in a separate daily report for export sales, said China bought 398,000 tonnes of U.S. soybeans.

MARKET NEWS

* The dollar slid to two-week lows on Thursday, with safe-haven demand for the currency waning as investors grew optimistic about progress toward a U.S.-China trade deal and agreement on Britain's exit from the European Union.

* Oil prices rose on Thursday, buoyed by comments by the head of OPEC that the organization could take action to balance oil markets and will decide in December on supply for next year.

* Meanwhile, U.S. stocks rose on Thursday on hopes that top-level U.S.-China trade talks would yield at least a partial deal, while a jump in Apple's shares also boosted the market.

Grains prices at 0052 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 492.25 -0.75 -0.15% -1.60% 483.14 55CBOT corn 381.50 1.25 +0.33% -3.23% 373.96 48CBOT soy 926.25 2.75 +0.30% +0.27% 893.50 75CBOT rice 12.04 $0.00 +0.00% +0.29% $12.02 60WTI crude 53.78 $0.23 +0.43% +2.26% $55.71 48

Currencies

Euro/dlr $1.101 $0.001 +0.05% +0.37%USD/AUD 0.6764 0.000 +0.04% +0.61%

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

(Reporting by Colin Packham; editing by Uttaresh.V)