Feb 16 (Reuters) -U.S. cotton edged up on Friday and headed for a sixth consecutive week of gains, with analysts and traders suggesting the upward momentum in the natural fibre market was mainly due to speculative buying.

* Cotton contracts for May CTc2 rose 0.14 cent, or 0.2%, to 95.45 cents per lb by 10:11 a.m. ET (1511 GMT). Prices were up more than 3% for the week.

* "Speculative trade has fired the cotton market... I don't see a particular reason for this unless they know something I don't. But I think, grains have been bearish, so some money might be flowing in from there," Kansas-based commodity analyst Sid Love said.

* "I think $1 for cotton might be too expensive and might face some overhead resistance. It is like flying an airplane, if you go up too fast, you might have to stall," he added.

* In the week to Feb. 6, speculators raised net long position by 14,256 contracts to 38,691 contracts, data from the Commodity Futures Trading Commission showed on Friday.

* Chicago wheat futures extended losses to a 2-1/2 month low while corn and soybeans consolidated near three-year lows, after official forecasts of higher U.S. grain stocks next season added to supply pressure. GRA/

* The USDA in it weekly export sales report on Thursday showed exports of 276,100 running bales, up 11% from the previous week and 6% from the prior 4-week average. The destinations were primarily to China, Vietnam and Pakistan. EXP/COT

* The U.S. Environmental Protection Agency said on Wednesday farmers can use existing supplies of dicamba weedkillers, despite a federal court ruling last week that halted sprayings. The decision is a win for farmers who planned to use dicamba products on genetically modified soybeans and cotton.

Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Krishna Chandra Eluri