GRAINS-Soybeans edge lower as rapid U.S. harvest swells supplies

SYDNEY, Sept 30 (Reuters) - U.S. soybean futures edged lower on Wednesday as a rapidly expanding harvest swelled global supplies, while traders remained cautious ahead of a widely watched U.S. government report due later in the session.


** The most active soybean futures on the Chicago Board Of Trade were down 0.2% at $9.91 a bushel, having closed 0.3% lower on Tuesday when prices hit a Sept. 16 low of 9.85-3/4 a bushel.

* The most active corn futures were down 0.3% at $3.63-3/4 a bushel, having closed down 0.6% in the previous session.

* The most active wheat futures were down 0.3% at $5.48 a bushel.

* The USDA will report on Wednesday the amount of U.S. grains and soy stored on and off farms as of Sept. 1, a quarterly report that has a history of jolting CBOT futures markets.

* The USDA on Wednesday will also update its estimates of U.S. 2020 wheat production.

* The USDA said late Monday the U.S. corn crop was 15% harvested, behind the five-year average of 16%, while soybeans were 20% harvested, ahead of the five-year average of 15%.

* The USDA confirmed private sales of 100,000 tonnes of U.S. soybeans to Mexico, but the agency has not announced any fresh soybean sales to top global buyer China since Sept. 23.


* The dollar edged down in Asian trade on Wednesday as investors counted down to the first U.S. presidential debate between President Donald Trump and Democratic challenger Joe Biden.

* Oil prices fell for a second day on Wednesday, extending big losses from the previous session amid rising concerns about fuel demand as the coronavirus pandemic worsens.

* Asian shares slipped and the dollar was under pressure on Wednesday in the lead up to the first U.S. presidential debate, as financial markets looked to take a measure of both candidates.

Reporting by Colin Packham, Editing by Sherry Jacob-Phillips