GRAINS-Soybeans, corn, wheat set for weekly gains ahead of USDA report

BEIJING, Sept 12 (Reuters) - Chicago soybeans, corn and wheat were on track for weekly gains on Friday as traders adjusted positions ahead of a key U.S. supply and demand report.

FUNDAMENTALS

* As of 0114 GMT, the most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 added 0.17% to $10.35-2/8 per bushel, though an absence of China demand continued to weigh on sentiment.

* Wheat Wv1 fell 0.1% to $5.21 a bushel, while corn Cv1 slipped 0.06% to $4.19-4/8 a bushel, but both contracts remain poised for weekly gains.

* The U.S. Department of Agriculture (USDA) will release its world supply and demand report later in the day, with analysts widely expecting cuts to U.S. soybean and corn yield forecasts.

* Weekly U.S. export sales showed 539,900 metric tons of 2025/26 corn were booked in the week ended September 4, coming in below trade expectations.

* In South America, Brazilian farmers are poised to produce 180 million metric tons of soybeans in the 2025/26 season, nearly 10 million tons more than in 2024/25.

* Ample global supply continues to cap wheat prices. Consultancies IKAR and Sovecon each raised their estimates for Russia's wheat harvest to around 87 million metric tons.

* Commodity funds were net buyers of CBOT corn, soy, wheat futures on Thursday, traders said. COMFUND/CBT

MARKET NEWS

* MSCI's global equities gauge hit a record high on Thursday while U.S. Treasury yields fell along with the dollar due to growing expectations for interest rate cuts, as softer labour market data overshadowed a higher-than-expected U.S. inflation reading. MKTS/GLOB

DATA/EVENTS (GMT)

0600 Germany HICP Final YY Aug

0600 UK GDP Est 3M/3M Jul

0600 UK GDP Estimate MM, YY Jul

0600 UK Services MM, YY Jul

0600 UK Manufacturing Output MM Jul

0645 France CPI (EU Norm) Final MM, YY Aug

0645 France CPI MM, YY NSA Aug

1400 US U Mich Sentiment Prelim Sep