SYDNEY, Oct 1 (Reuters) - U.S. corn futures rose for a
second consecutive session on Thursday, lingering near a
seven-month high, after the U.S. Department of Agriculture
pegged stockpiles below market expectations.
* The most-active corn futures on the Chicago Board of Trade
were up 0.4% at $3.80-1/2 a bushel by 0119 GMT, having
gained 3.9% in the previous session when prices hit a March 6
high of $3.82-3/4 a bushel.
* Soybean futures were up 0.8% at $10.31-3/4 a bushel,
having firmed 3.1% on Wednesday when prices hit a Sept. 22 high
of $10.34-3/4 a bushel.
* Wheat futures were up 0.6% at $5.81-1/4 a bushel,
having closed up 5.2% on Wednesday when prices hit a March 27
high of $5.87 a bushel.
* American soybean and corn stockpiles were
smaller-than-expected as China stepped up its purchases of U.S.
supplies during the summer, the U.S. government said on
* Corn supplies dropped by 3.024 billion bushels and soybean
supplies fell by 858 million bushels during the three months
ended Sept. 1, the second-biggest summer drawdowns ever for both
commodities, according to the agriculture department's quarterly
* The dollar was on the defensive at a one-week low on
Thursday, as robust U.S. data and fresh hopes for U.S. fiscal
stimulus had investors confident enough about economic recovery
prospects to seek out riskier currencies.
* Oil prices were roughly unchanged in early trade after
U.S. lawmakers postponed a vote on a $2.2 trillion coronavirus
relief package in the hopes of reaching a bipartisan agreement
with the White House, as infections continued to rise.
* Asian equities were poised for a bouncy session after U.S.
stocks posted a second consecutive quarter of gains and
safe-haven assets, including the dollar, were mixed.
(Reporting by Colin Packham)