Grain futures - weekly outlook: January 26 - 30

Investing.com - U.S. soybean futures fell to a three-month low on Friday, as optimism over crop prospects in Brazil and Argentina underlined worries over ample global supplies.

On the Chicago Mercantile Exchange, US soybeans for March delivery inched down 4.0 cents, or 0.41%, on Friday to end the week at $9.7260 a bushel.

Prices of the oilseed hit $9.6720 earlier in the day, a level not seen since October 23.

On the week, the March soybean contract declined 10.53 cents, or 1.84%, the second consecutive weekly loss.

Meanwhile, US corn for March delivery tacked on 3.0 cents, or 0.78%, to settle at $3.8660 a bushel after data showed stronger-than-expected weekly exports.

Despite Friday's gains, the March corn contract shed 0.4 cents, or 0.1%, on the week, amid indications of plentiful supplies.

Elsewhere on the Chicago Board of Trade, US wheat for March delivery slumped 3.6 cents, or 0.7%, on Friday to close at $5.3000 a bushel.

Wheat fell to $5.2300 on January 20, the lowest since November 12.

On the week, the March wheat contract lost 2.6 cents, or 0.48%, the fifth straight weekly decline, amid ample global supplies and indications of reduced demand for U.S. wheat.

A broadly stronger U.S. dollar also weighed. The dollar index rose to more than 11-year highs on Friday, boosted by weakness in the euro.

A stronger U.S. dollar usually weighs on demand for raw materials, as it makes dollar-priced commodities more expensive for holders of other currencies.

The euro fell to fresh 11-year lows against the greenback after the European Central Bank unveiled a €1.2 trillion asset purchase program on Thursday.

The central bank will purchase €60 billion in assets per month, starting in March and continuing until late 2016, to combat slowing growth and inflation in the euro area.

In the week ahead, market players will focus on the release of key USDA data, including crop progress and weekly export sales figures.

Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.