GRAINS-Stumble to first weekly losses in 4 weeks

* U.S. wheat falls for 4th day; firm dollar weighs
* Soy firms on late buying
* Corn losses modest on good export news

(Updates with closing prices and weekly moves)
By Mark Weinraub
CHICAGO, Feb 10 (Reuters) - Grains skidded to their
first weekly losses in four weeks on Friday, led lower by wheat,
due to plentiful world wheat supplies and a higher dollar that
dimmed export prospects traders said.
Soybean futures dropped to a one-week low early but ended
firm on late buying. Corn futures eased modestly as signs of
export demand allowed it to buck the bearish headwinds from
outside markets.
"When you have got a lack of news, you kind of gravitate to
something else to look at," said Jason Britt, analyst with
Central States Commodities. "Maybe a little risk-off trade going
on in some of these other markets and I would say that is
probably spilling over (into grains)."
The dollar's gains and a drop in crude oil prices came as
investors feared a fresh hitch in talks to secure a new bailout
for Greece.
Chicago Board of Trade March soft red winter wheat
lost 16 cents or 2.5 percent at $6.30 a bushel, posting its
biggest daily percentage loss in nearly a month. Prices bottomed
out at $6.28-1/4, their lowest level since Jan. 24.
For the week, the nearby March wheat contract lost 4.7
percent of its value.
A positive outlook for the U.S. Plains wheat crop, coupled
with the USDA's projection of larger global wheat stocks,
mitigated concerns about sub-freezing temperatures in Europe
damaging crops in key growing areas there.
"Slightly reduced crop yields due to the current cold snap
in Europe will thus be easily absorbed," Commerzbank analysts
said.
CBOT March soybeans gained 1-1/2 cents to $12.29 a
bushel and CBOT March corn dropped 5-1/4 cents or 0.8
percent to $6.31-3/4 a bushel.
Soybeans shed 0.3 percent for the week, and corn registered
a weekly loss of 2 percent.
A cold snap forecast for this weekend in the U.S. Plains
posed the threat of winterkill in some parts of the hard red
winter wheat region, but a protective snow cover was in place in
what could be the coldest areas. Some rain and snowstorms in the
region over the past few months have replenished soil moisture
and boosted prospects for this year's crop following severe
drought in 2011.
"Temperatures tonight will push close to winterkill
thresholds in the central Plains, although the most likely
scenario will only allow snow-protected areas in the northeast
to slip below zero degrees (Fahrenheit)," said Joel Widenor,
meteorologist for Commodity Weather Group.
The U.S. Agriculture Department's monthly supply and demand
report on Thursday lacked any bullish surprises that would have
driven the market higher after investors built a risk premium
into grain and oilseed prices.
The U.S. corn stockpile is projected by USDA to shrink this
summer to its smallest in 16 years, or down 5 percent from the
previous forecast to 801 million bushels. That was still
slightly larger than traders had anticipated.
Private exporters reported the sale of 240,000 tonnes of
U.S. corn to Egypt for delivery in the 2011/12 marketing year,
the U.S. Agriculture Department said on Friday.
But hopes for a bumper U.S. crop this year were keeping corn
from breaking sharply higher.
U.S. farmers this spring are expected to plant the most
acres to corn since 1944, while soybean seedings are expected to
expand slightly in the world's largest grower of both crops,
according to a Reuters poll.
"Going forward, we see more downside for corn as U.S
plantings will be higher, which will pressure prices in the
coming weeks," said Lynette Tan, an analyst with Phillip Futures
in Singapore.
Grains are entering a period of seasonal weakness, as crops
mature in South America, said Jack Scoville, analyst for brokers
TPFG in Chicago. It's unclear how that will play out this year,
with drought reining in production of corn and soybeans in
Argentina and Brazil.
In the shorter term, traders will keep a close eye on talks
to bail out Greece and the direction the U.S. dollar takes into
next week, Scoville said.

Prices at 2:03 p.m. CST (2002 GMT)
LAST NET PCT YTD
CHG CHG CHG
CBOT corn 631.75 -5.25 -0.8% -2.3%
CBOT soy 1229.00 1.50 0.1% 2.5%
CBOT meal 320.00 -1.00 -0.3% 3.4%
CBOT soyoil 52.53 -0.01 0.0% 0.8%
CBOT wheat 630.00 -16.00 -2.5% -3.5%
CBOT rice 1371.50 -36.50 -2.6% -6.1%
EU wheat 210.50 -2.50 -1.2% 4.0%
US crude 98.87 -0.97 -1.0% 0.0%
Dow Jones 12,758 -132 -1.0% 4.4%
Gold 1715.34 -15.66 -0.9% 9.7%
Euro/dollar 1.3169 -0.0113 -0.9% 1.7%
Dollar Index 79.1180 0.5520 0.7% -1.3%
Baltic Freight 715 20 2.9% -58.9%

* CBOT prices in cents per bushel

(Reporting by Mark Weinraub in Chicago and Rod Nickel in
Winnipeg; Editing by Bob Burgdorfer; additional reporting by
Naveen Thukral in Singapore and Sybille de La Hamaide in Paris;
editing by Jim Marshall and Bob Burgdorfer)