GRAINS-Soybeans edge lower, set for weekly gain on harvest concerns

SYDNEY, Sept 23 (Reuters) - U.S. soybeans edged lower on Friday, extending losses into a third consecutive session, although the oilseed was still on track for a weekly gain of nearly 1 percent as concerns over potential harvest delays supported prices. FUNDAMENTALS * The most active soybean futures on the Chicago Board Of Trade up nearly 1 percent for the week, recouping half of the losses from the previous week. * The most active corn futures down nearly 0.5 percent for the week, the second consecutive weekly loss. * The most active wheat futures was little changed for the week. * Expectations for rain that could slow harvest in key soybean growing support prices. * The soybean harvest is less advanced than that of corn, making the oilseed more sensitive to heavy rains. * Egypt has reversed its controversial zero-tolerance policy on the common grains fungus ergot, the government said on Wednesday, backtracking on an import regulation that had all but blocked its access to global wheat. MARKET NEWS * The dollar gained in Asian trading on Friday but was on track to end a tumultuous week with losses after the Federal Reserve trimmed its long-term interest rate expectations and the Bank of Japan rebooted its monetary policy framework. * Oil prices rallied again on Thursday, boosted for a second day by U.S. government data that showed a surprising crude inventory drop, but crude futures pared gains as traders worried that OPEC was not nearing an agreement to reduce a global glut. * U.S. stocks climbed on Thursday, with big tech names leading broad gains, building on strength from a day earlier that was fueled by the Federal Reserve's decision to stand pat on interest rates. 0700 France Markit manufacturing PMI flash Sept 0700 France Markit services PMI flash Sept 0730 Germany Markit manufacturing PMI flash Sept 0730 Germany Markit services PMI flash Sept 0800 Euro zone Markit manufacturing PMI flash Sept 0800 Euro zone Markit services PMI flash Sept 1345 US Markit manufacturing PMI flash Sept Grains prices at 0132 GMT Cont Last Chan Pct Two- MA RSI ract ge chg day 30 chg CBOT 403. -2.5 -0.6 -0.7 414. 61 whea 00 0 2% 4% 78 t CBOT 335. -1.0 -0.3 -1.4 333. 59 corn 75 0 0% 0% 49 CBOT 972. -4.0 -0.4 -1.7 977. 45 soy 50 0 1% 4% 29 CBOT 9.66 $0.0 +0.0 -2.3 $9.8 49 rice 0 0% 7% 3 WTI 45.8 -$0. -1.0 +1.0 $45. 58 crud 3 49 6% 8% 75 e Curr enci es Euro $1.1 $0.0 +0.2 +0.4 /dlr 20 03 6% 4% USD/ 0.76 0.01 +1.3 +1.9 AUD 36 0 7% 8% Most active contracts Wheat, corn and soy US cents/bus hel. Rice: USD per hundredwe ight RSI 14, exponenti al (Reporting by Colin Packham; Editing by Ed Davies)

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