SYDNEY, March 13 (Reuters) - U.S. soybeans fell more than 1% on Friday to hit a near 10-month low as rising panic over the coronavirus pandemic pummeled world financial markets.
The oilseed was set for its biggest weekly loss since July 2018.
* The most-active soybean futures on the Chicago Board Of Trade were set to decline nearly 5% for the week.
* Soybeans were down 1.3% at $8.48 a bushel by 0119 GMT, the lowest since May 29, 2019. The commodity closed 1.6% lower on Thursday.
* The most-active corn futures were poised to lose more than 3% for the week, the biggest weekly fall since September 2019.
* The most-active wheat futures set to fall nearly 3% for the week, the third straight weekly loss.
* The grain complex has been under sustained pressure amid a broad market selloff fueled by concerns that the hit to global growth from the rapidly spreading flu-like virus would be far worse than earlier feared.
* The U.S. Department of Agriculture reported export sales of old-crop corn in the week to March 5 at nearly 1.5 million tonnes, above analyst expectations. 1/8Oil and gas explorer 3/8
* Soybean export sales fell below expectations, and weekly net cancellations of U.S. pork sales to China topped 45,000 tonnes, the most in records dating to 2013.
* The dollar stood tall on Friday as investors scrambled for the world's most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed investors by not cutting rates.
* Oil prices fell on Friday for a third day, with Brent crude set for its biggest weekly drop since 1991 and U.S. crude heading for the worst week since 2008 as panic about plunging demand from the coronavirus outbreak grips the market.
* The Cboe Volatility Index, known as Wall Street's "fear gauge," jumped on Thursday in its biggest-ever one-day surge as U.S. stocks confirmed a bear market and the benchmark S&P 500 index tumbled 9.5%.
DATA/EVENTS (GMT)0700 Germany HICP Final YY Feb0745 France CPI (EU Norm) Final MM, YY Feb1400 US U Mich Sentiment Prelim March
(Reporting by Colin Packham; Editing by Devika Syamnath)