Wires

GRAINS-Soybeans set for third weekly decline on U.S.-China trade woes

SINGAPORE, Nov 22 (Reuters) - Chicago soybean futures were on track on Friday for a third weekly loss as uncertainty over progress in the U.S.-China trade negotiations weighed on the market. Wheat is set for a positive finish this week - its first in a month - as expectations of lower production in the Southern Hemisphere supported prices.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board Of Trade is down almost 2% this week, taking the losses in three weeks to almost 4%.

* Wheat is set to end the week with a gain of nearly 2%, having lost ground for the last four weeks, while corn is down 0.7% this week, poised for a third weekly decline.

* Completion of a "phase one" U.S.-China trade deal could be delayed until next year, Reuters reported on Wednesday, citing trade experts and people close to the White House.

* China will strive to reach an initial trade agreement with the United States as both sides keep communication channels open, the Chinese commerce ministry said on Thursday, in an attempt to allay fears talks might be unravelling.

* Still, China continued its purchases of U.S. soybeans, pork and beef even as negotiators struggled to hammer out details of the first phase of a potential trade deal between the two countries, according to government data released on Thursday.

* Weekly declines in soybean and corn prices come despite strong demand for U.S. supplies.

* The U.S. Department of Agriculture (USDA) reported weekly U.S. soybean export sales at more than 1.5 million tonnes, topping trade expectations.

* The USDA reported weekly export sales of corn for the current marketing year at 788,000 tonnes, up 49% from the prior four-week average.

* Through its daily reporting system, the USDA said private exporters sold 106,000 tonnes of U.S. corn to unknown destinations, the third such sale announced this week.

* The International Grains Council said on Thursday the world's wheat area for the 2020/21 season is expected to expand by 1%.

* Argentina is set to dominate Asia's grain market for a second consecutive year in 2020, with trading companies already buying significant volumes anticipating first-quarter demand in the region as drought curbs output in traditional export powerhouse Australia, trade sources said.

MARKET NEWS

* Asian equities rose on Friday, bouncing from a three-week low touched a day earlier, but gains were capped by persistent worries over the status of trade negotiations between China and the United States.

DATA/EVENTS (GMT)

0700 Germany GDP Detailed QQ SA, YY NSA Q30815 France Markit Mfg, Serv, Comp Flash PMIs Nov0830 Germany Markit Mfg, Serv, Comp Flash PMIs Nov0900 EU Markit Mfg, Serv, Comp Flash PMIs Nov1445 US Markit Mfg, Serv, Comp Flash PMIs Nov1500 US U Mich Sentiment Final Nov

Grains prices at 0154 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSICBOT wheat 512.25 0.25 +0.05% -1.21% 516.40 48CBOT corn 368.25 -0.25 -0.07% +0.41% 381.87 33CBOT soy 901.00 0.00 +0.00% -0.44% 930.94 35CBOT rice 12.25 $0.00 +0.00% +1.20% $12.03 80WTI crude 58.27 -$0.31 -0.53% +2.03% $55.89

Currencies

Euro/dlr $1.106 $0.001 +0.06% -0.07%USD/AUD 0.6794 0.001 +0.15% -0.12%

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

(Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)