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GRAINS-Harvest pressure sets soybeans for biggest weekly loss in 6 months

SYDNEY, Sept 25 (Reuters) - U.S. soybeans edged higher on Friday, though the oilseed was poised to record its biggest weekly loss in six months as an advancing U.S. harvest swelled ample global supplies.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were down 4.1% for the week, set for the biggest seven-day loss since March 13.

* Soybeans edged up 0.1% at $10.01 a bushel after closing 1.4% lower on Thursday when prices hit a Sept. 16 low of $9.97-1/4 a bushel.

* The most active corn futures down more than 3% for the week, poised for the first weekly loss in three.

* The most active wheat futures down 4% for the week, on track for the biggest one-week loss since Aug. 7.

* A weekly U.S. Agriculture Department (USDA) report showed export sales of corn at 2.139 million tonnes and export sales of soybeans at 3.195 million tonnes - both topped the higher end of market expectations.

* However, the USDA did not report a fresh deal for soybeans to China in its daily reporting system, snapping a stretch of 14 straight trading days after a so-called flash sale has been announced.

MARKET NEWS

* The U.S. dollar dipped from a two-month peak on Friday as renewed hopes of U.S. stimulus eased investors’ concerns about economic recovery, while the Chinese yuan gained after the country was added to a global bond benchmark.

* Oil prices were little changed on Friday, but on track for a weekly fall on concerns that a global resurgence of COVID-19 infections will constrain fuel demand, while the likely return of exports from Libya will add to supply.

* Asian stocks were set to open higher on Friday as a late Wall Street rally supported global sentiment although weak U.S. data and uncertainty about a stimulus package in Washington have kept a lid on confidence. (Reporting by Colin Packham, Editing by Sherry Jacob-Phillips)

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