January 10, 2020 / 1:57 AM / in a month

GRAINS-Soybeans edge higher as U.S.-Iran anxiety ebbs, set for 0.5% weekly rise

SYDNEY, Jan 10 (Reuters) - U.S. soybeans futures edged higher on Friday and was also poised to finish the week up nearly 0.5%, as easing concerns over U.S.-Iran tensions boosted market sentiment.


* The most active soybean futures on the Chicago Board Of Trade up nearly 0.5% for the week, after the oilseed finished flat last week.

* Soybeans were up 0.2% at $9.45 a bushel on Friday after closing down 0.4% in the previous session.

* The most active corn futures down more than 0.5% for the week, the second straight weekly loss.

* The most active wheat futures up more than 1% for the week, after closing down 0.3% last week.

* Grain markets are looking ahead to Friday's USDA reports, scheduled for release at 11 a.m. CST (1700 GMT), which are expected to show smaller U.S. corn and soy harvests in 2019, smaller grain stocks and lower winter wheat seedings in the United States.

* Brazilian consultancy Agroconsult boosted its soy crop estimate on Thursday to a record-setting 124.3 million tonnes but trimmed its corn crop view.

* Tensions between Washington and Tehran have risen since Trump ordered the U.S. drone killing of a top Iranian general on Friday. Trump has refrained from ordering more military action and Iran's foreign minister said the strikes on Iraqi bases that house U.S. forces had "concluded" Tehran's response.


* The dollar looked set to post its best week in two months on Friday, buoyed by easing Middle East tensions and upbeat U.S. economic data.

* Oil prices dropped on Friday extending days of losses as the threat of war in the Middle East, a major oil producing region, receded and investors switched their attention to economic growth prospects and demand for crude.

* Major U.S. stock indexes registered record closing highs on Thursday as optimism about a U.S.-China trade deal firmed and as Apple and other market heavyweights posted strong gains.

Reporting by Colin Packham; Editing by Rashmi Aich

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