By Colin Packham SYDNEY, Sept 27 (Reuters) - U.S. wheat held steady on Friday, remaining on track to record its biggest weekly gain in over a year on growing appetite for imports from China and Brazil after weather damaged crops in those countries. FUNDAMENTALS * Chicago Board of Trade December wheat was poised to finish the week up nearly 5 percent in its biggest weekly rise since June 2012. * November soybeans looked set to finish the week little changed, having closed down more than 4.5 percent last week. * December corn was up 1 percent for the week - itsfirst weekly gain in a month. * The U.S. Department of Agriculture said on Thursday that old-crop export sales of wheat were 620,200 tonnes in the latest week, which was in line with the analysts' robust expectations of 500,000 to 700,000 tonnes. * Stepped-up purchases by Brazil and China after weather damaged their domestic crop have helped strengthen the wheat market. * A few light showers over the next two weeks will cause only minor slowdowns in harvesting the U.S. corn and soybean crops, MDA Weather Services said on Thursday. MARKET NEWS * The dollar held onto modest overnight gains in Asia on Friday but was on track to end the week flat, hampered by the threat of a historic U.S. debt default hanging in the air and lack of clarity over when the Federal Reserve will scale back stimulus. * Oil prices firmed on Thursday in light trading, despite easing political worries and an improving supply picture, as traders sought bargains after sharp losses earlier this month. * The S&P 500 and Dow snapped five-day losing streaks on Thursday on positive job market data but gains were limited as investors worried if Washington lawmakers would pass bills to avoid a government shutdown and possible U.S. debt default on time. DATA/EVENTS (GMT) 0645 France Consumer spending 0800 Italy Business confidence 0900 Euro zone Economic sentiment 1200 Germany Consumer inflation 1230 U.S. Personal income Grains prices at 0013 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 678.25 0.00 +0.00% +1.16% 652.05 76 CBOT corn 455.50 -1.25 -0.27% +0.16% 467.46 42 CBOT soy 1313.25 -3.50 -0.27% -0.64% 1340.58 37 CBOT rice $15.35 $0.03 +0.16% -0.87% $15.52 41 WTI crude $102.66 -$0.37 -0.36% +0.00% $106.62 32 Currencies Euro/dlr $1.349 $0.000 -0.01% -0.29% USD/AUD 0.936 0.000 -0.04% -0.11% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Editing by Joseph Radford)Read Also
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GRAINS-Wheat set for biggest weekly gain in over a year
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