SINGAPORE, Dec 16 (Reuters) - Chicago soybean futures were largely unchanged on Friday, with the market poised for a weekly decline as concerns over slowing global economy weighed on prices.

Wheat ticked lower, although the market is set for a weekly gain on bargain buying after prices dropped to a two-month low last week, while it is on track to end the week on a positive note.

FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade (CBOT) added 0.1% to $14.75-1/4 a bushel, as of 0119 GMT, wheat gained 0.1% at $7.57-3/4 a bushel and corn rose 0.2% to $6.54-1/2 a bushel.

* For the week, soybeans are down around half a percent, wheat has added more than 3% and corn is up 1.5%.

* Agricultural markets are being weighed down by fears of a global recession.

* A day after the U.S. Federal Reserve said it expected rates to stay higher for longer, U.S. retail sales fell more than expected in November, while the labour market remained tight.

* The Bank of England similarly pointed to more possible rises as it also increased rates on Thursday.

* The pressure on soybean market comes despite strong demand and concerns over South American crops.

* The U.S. Agriculture Department said on Thursday morning that export sales of soybeans totalled 2.943 million tonnes in the week ended Dec. 8. That was up 69% from a week earlier and above the high end of trade forecasts that ranged from 1.5 million to 2.6 million tonnes

* Rainfall over recent days has not been enough for successful planting of soybeans after an extended drought in Argentina's core agricultural areas, the Buenos Aires grains exchange said on Thursday.

* European Union production of major cereal crops should rise next year after a 2022 harvest marked by drought and heatwaves, consultancy Strategie Grains said on Thursday.

* In initial projections for the 2023 harvest, Strategie Grains forecast soft wheat production at 128.7 million tonnes, up 2.5% from 125.5 million this year.

* For maize, it anticipated output would recover to 63.7 million tonnes, up 26% from a 15-year low of 50.5 million for 2022.

* Commodity funds were net buyers of CBOT corn, wheat and soyoil futures contracts on Thursday and net sellers of CBOT soybeans and soymeal, traders said.

MARKET NEWS

* Global shares slumped on Thursday, while the U.S. dollar gained and Treasury yields ticked down, after major central banks hiked interest rates in their final policy decisions of the year.

DATA/EVENTS (GMT) 0030 Japan JibunBK Mfg PMI Flash SA Dec 0030 Japan JibunBK Comp OP Flash SA Dec 0030 Japan JibunBK SVC PMI Flash SA Dec 0700 UK Retail Sales Ex-Fuel MM Nov 0700 UK Retail Sales MM, YY Nov 0815 France S&P Global Mfg, Serv, Comp Flash PMIs Dec 0830 Germany S&P Global Mfg, Serv, Comp Flash PMIs Dec 0900 EU S&P Global Mfg, Serv, Comp Flash PMIs Dec 0900 UK Flash Comp, Mfg, Srv PMIs Dec 1000 EU Total Trade Balance SA Oct 1000 EU HICP Final MM, YY Nov 1445 US S&P Global Mfg, Serv, Comp Flash PMIs Dec (Reporting by Naveen Thukral; Editing by Rashmi Aich)