GRAINS-U.S. wheat, corn and soybeans rise ahead of USDA report release

KUALA LUMPUR, Oct 7 (Reuters) - U.S. wheat and soybean futures edged higher on Monday, on track for a second session of gains, ahead of U.S. Department of Agriculture (USDA) data that will estimate U.S. 2019/20 ending stocks for wheat, corn and soybeans.


* The most active wheat futures on the Chicago Board Of Trade were up 0.6% at $4.93 a bushel at 0022 GMT on Monday, having closed up 0.4% on Friday.

* The most active soybean futures were up 0.4% at $9.20 a bushel, having risen 0.5% on Friday.

* The most active corn futures rose 0.7% to $3.87-1/4 a bushel, after closing down 1% in its previous session.

* A Russian Deputy Prime Minister in charge of agriculture has proposed the creation of a grain organization along the lines of the Organization of the Petroleum Exporting Countries (OPEC), Interfax news agency reported on Saturday, citing his office.

* The market is waiting on latest USDA data on production and inventory levels. The report is scheduled for release on Thursday, Oct. 10, at 12 p.m. EDT (1600 GMT).


* The dollar inched lower on Friday, giving up gains fueled by a generally solid U.S. jobs report that slightly underperformed expectations, as investors worried about political risk in the United States and ongoing trade talks with China.

* Oil prices rose about 1% on Friday as an increase in U.S. jobs eased some financial market concerns that a slowing global economy could dent oil demand, but crude fell more than 5% on the week, its second consecutive weekly decline.

* The S&P 500 e-minis fell by 13.5 points or 0.46 percent, while 10-year Treasury futures remained unchanged.

(Reporting by Emily Chow; editing by Richard Pullin)