* Soybeans step back from one-month highs despite exports
* Global demand pulls wheat off two-week lows
* Damage to Canada's durum wheat could impact pasta prices
CHICAGO, Aug 30 (Reuters) - Chicago soybean prices fell for a second session on Wednesday, despite recent export activity, with analysts pointing to traders squaring positions heading into the end of the month.
Wheat traded higher, supported by global demand and concerns about Canada's crop.
Corn was near even as traders wait for the harvest to assess yields.
The most-active soybean contract on the Chicago Board of Trade (CBOT) fell 9 cents to $13.83-1/2 a bushel by 10:53 a.m. (1653 GMT).
CBOT wheat added 6-1/2 cents to $6.07 a bushel, while corn eased 3 cents to $4.83-3/4 a bushel.
Recent export activity pushed soybean futures to one-month highs on Monday as U.S. stockpiles tightened, though global supplies remain ample.
"When you look at the soy complex, the tightness is only in the United States. The rest of the world is well supplied on soybeans," said Karl Setzer, commodity risk analyst at Agrivisor. "Plus it's seasonal. We're going to start soybean harvest in the United States within a couple weeks."
The U.S. Department of Agriculture confirmed private sales of 266,000 metric tons of U.S. new-crop soybeans to unknown destinations.
Soybeans are trading at their highest levels relative to corn since late 2016, which could lead to overproduction of U.S. soybeans in the coming years, moderating prices.
Corn eased as meager demand was further stifled by low water levels on the Mississippi River which could slow movement of grain to the Gulf of Mexico.
Wheat was buoyed after falling to two-week lows, as the U.S. crop becomes more affordable versus bigger global suppliers. Still, ample supplies from bigger exporters like Russia and the European Union remain more competitive.
"There's still enough wheat. We're not going to be in the market yet," said Mark Schultz, chief analyst at Northstar Commodity.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), is seeking wheat in an international tender, with the most attractive bids offering French and Romanian wheat.
Damages to durum wheat crops from drought in Canada, combined with adverse weather in Europe, are likely to lead to higher pasta prices, producers said.
Wheat production in Canada fell by 14.2% in 2023 compared to 2022, a Statistics Canada survey showed on Tuesday.
Data showed that soft wheat exports from the European Union were down nearly 30% so far in the 2023/24 season. (Reporting by Christopher Walljasper in Chicago; additional reporting by Naveen Thukral, Peter Hobson and Sybille de La Hamaide; Editing by Kirsten Donovan)
