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GRAINS-Corn falls 1% as global economic woes stoke fears about ethanol demand

SYDNEY, Nov 2 (Reuters) - U.S. corn futures fell 1% on Monday, as concerns about the global economy stoked fears about depressed demand for ethanol.

FUNDAMENTALS

* The most active corn futures on the Chicago Board Of Trade were down 1% at $3.94 a bushel by 0212 GMT, after closing unchanged in the previous session.

* The most active soybean futures were down 0.5% at $10.51-1/2 a bushel, after firming 0.6% on Friday.

* The most active wheat futures were down 0.5% at$5.95-1/2 a bushel, after closing down 0.9% on Friday.

* The U.S. Department of Agriculture (USDA) on Friday confirmed private sales of 121,500 tonnes of U.S. soybeans to unknown destinations.

* Market worries about global wheat production amid adverse weather across the U.S. Plains.

MARKET NEWS

* The U.S. dollar held steady on Monday as investors readied for this week’s U.S. presidential election, while a surge in global coronavirus cases continued to weigh on sentiment.

* Oil prices slumped more than 4% to the lowest levels since May on worries a swathe of coronavirus lockdowns across Europe will weaken fuel demand, while traders braced for turbulence during the U.S. Presidential election week.

* Oil prices hit five-month lows and shares extended losses on worries about global demand as many economies slid back into coronavirus-induced lockdowns while upcoming U.S. presidential elections led to heightened caution.

Reporting by Colin Packham; Editing by Rashmi Aich

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