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GRAINS-Soybean futures rise on lower supplies outlook

SYDNEY, Oct 13 (Reuters) - U.S. soybean futures rose on Tuesday, rebounding from losses of 3% in the previous session, as expectations of lower global supplies underpinned prices.

FUNDAMENTALS

* The most-active soybean futures on the Chicago Board of Trade were up 0.4% at $10.38-1/2 a bushel by 0100 GMT, having closed down 3% on Monday when prices hit an Oct. 6 low of $10.31-1/2 a bushel.

* Corn futures were up 0.2% at $3.89-3/4 a bushel, having closed down 1.5% in the previous session.

* Wheat futures were up 1% at $6.00-1/2 a bushel, having closed down 0.3% on Monday.

* U.S. corn and soybean supplies will be smaller-than-forecast, as adverse weather reduced the acreage that farmers will harvest, the U.S. government said last week.

* Current dry weather may reduce Russia’s winter wheat sowing area by 10%-15%, mainly in the central part of the country, the Sovecon agriculture consultancy said last week.

MARKET NEWS

* The dollar flirted with three-week lows on Tuesday as investors stuck to hopes that there will be large U.S. fiscal stimulus, most likely after the Nov. 3 election, to shore up a pandemic-hit economy, supporting riskier currencies.

* Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets. (Reporting by Colin Packham; editing by Uttaresh.V)

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