* Corn falls to lowest since Sept 2009, soybeans fall
* Markets under pressure as U.S. harvest gathers pace
* Poor demand for U.S. corn piles pressure on prices (Adds details, quotes)
By Naveen Thukral
SINGAPORE, Oct 1 (Reuters) - Chicago corn fell to a five-year low on Wednesday and soybeans traded near the lowest since early 2010 as the prospect of record crops in the United States added to the downward pressure on prices.
Wheat fell for a second day to trade near last week's four-year low due to plentiful world supplies and higher-than-expected stocks projected by the U.S. Department of Agriculture in its quarterly report.
Chicago Board Of Trade front-month corn was down 0.6 percent at $3.19 a bushel at 0256 GMT, just above the session low of $3.18-3/4 a bushel, the lowest since September 2009. Corn had slumped 1.5 percent in the previous session.
Soybeans lost 0.6 percent to $9.08-1/4 a bushel, having slid 1.1 percent on Tuesday, and wheat fell 0.7 percent to $4.74-1/2 a bushel after closing down 0.7 percent the previous day.
"U.S. corn exports are not picking up despite such a big drop in prices. Buyers are taking South American and Black Sea products," said Kaname Gokon, general manager of research at brokerage Okato Shoji in Tokyo.
"We expect corn prices to fall below $3.15 a bushel next week and soybeans could come down below $9 a bushel."
Grain prices have tumbled as the dollar rose to multi-year peaks against a basket of other currencies, making U.S. supplies less competitive in global markets just as farmers there were gathering record harvests of corn and soy.
U.S. soybean stocks ended the 2013/14 marketing year much smaller than expected despite an upward revision to the previous year's crop, while corn stocks were larger than forecast, the USDA data showed on Tuesday.
The agency's wheat crop estimate was in line with traders' expectations, while wheat stocks as of Sept. 1 were 2 percent larger than projected.
Soybean stocks ahead of harvest were a razor-thin 92 million bushels, versus the trade guess of 126 million. Indicated usage during June-August was 313 million bushels, up 6 percent on the year.
But the market shrugged off the report showing lower supplies as harvesting of a record crop of almost 4 billion bushels gathered pace.
Commodity funds sold a net 8,000 Chicago Board of Trade soybean contracts on Tuesday, trade sources said. The funds sold 7,000 contracts in corn and trades were balanced in wheat.
Prices at 0256 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 474.50 -3.25 -0.68% +0.05% 519.27 32 CBOT corn 319.00 -1.75 -0.55% -1.24% 362.44 28 CBOT soy 908.25 -5.00 -0.55% -0.22% 990.03 22 CBOT rice $12.77 $0.02 +0.20% -0.35% $12.68 58 WTI crude $91.46 $0.30 +0.33% -3.29% $93.35 41 Currencies Euro/dlr $1.261 -$0.007 -0.54% -1.06% USD/AUD 0.867 -0.009 -1.03% -1.29% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Naveen Thukral; Editing by Alan Raybould)