SYDNEY, Aug 21 (Reuters) - U.S. soybean futures edged higher on Friday, though signs of bigger-than-expected U.S. crop yields and dwindling export demand capped gains.
* The most active soybean futures on the Chicago Board Of Trade have gained more than 1% so far in the week, heading for their second straight weekly rise.
* Soybeans were last up 0.5% at $9.10-1/4 a bushel on Friday after closing down 1% in the previous session.
* The most active corn futures were up nearly 1% for the week, on track for their second straight weekly gain.
* The most active wheat futures were up 6% for the week, the biggest weekly gain in six weeks.
* Strong soybean yield estimates from a widely followed crop tour in parts of Iowa and Minnesota on Thursday, coupled with possible rain in the 7-10 day forecast for parts of the upper Midwest, weighed on prices.
* The U.S. Department of Agriculture reported a net cancellation of 12,600 tonnes of soybeans slated to be shipped in the 2019/2020 marketing year.
* The dollar was on the defensive against most currencies on Friday after a rise in U.S. jobless claims and a dip in Treasury yields dampened the appeal of holding the greenback.
* Asian equities were poised to rise after a tech-driven rally on Wall Street in which the Nasdaq hit a record high despite downbeat data that affirmed the Fed’s dour outlook on U.S. economic recovery. (Reporting by Colin Packham; Editing by Subhranshu Sahu)
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