GRAINS-Chicago wheat firms on Algeria purchase, but logs weekly fall

BEIJING, Dec 27 (Reuters) - Chicago wheat gained on Friday after a big purchase from Algeria, but was set for a weekly decline, while soybean eased as a record crop in Brazil weighed on the market. Corn also slipped.

FUNDAMENTALS

* The most-active wheat contract on the Chicago Board of Trade Wv1 gained 0.09% to $5.41 a bushel, but logged a 1.3% weekly decline so far.

* CBOT corn Cv1 fell 0.14% to $4.53 a bushel at 0145 GMT, notching a 4.8% gain so far in the week. Soybeans Sv1 shed 0.25% to $9.94 a bushel. For the week, it has risen 2.3% so far.

* Algeria's state grains agency OAIC is believed to have purchased an estimated 1.17 million metric tons of milling wheat in an international tender that closed on Tuesday, European traders said.

* Russia's IKAR agricultural consultancy on Thursday said it saw 2025-26 wheat exports at 41 million metric tons in a baseline scenario, down from 43.5 million tons expected in the current season.

* Russia harvested 125 million tons of grain and legumes, including 82 million tons of wheat in clean weight in 2024, down 13% from last year, data from statistical agency Rosstat showed on Thursday.

* Commodity funds were net buyers of Chicago Board of Trade corn, soybean, soymeal and wheat futures contracts on Thursday and net sellers of soyoil futures, traders said.

MARKETS NEWS

* Wall Street closed mixed on Thursday and the U.S. benchmark Treasury yield eased after scaling the highest level since May in light and directionless post-Christmas trading. MKTS/GLOB

(Reporting by Mei Mei Chu; Editing by Sumana Nandy)

((meifong.chu@thomsonreuters.com;))