Chicago soybean futures fall

SINGAPORE/PARIS, Oct 01 (Reuters): Chicago soybean futures slid for a second session on Monday, pressured by a rise in US stocks to an 11-year high and expectations of a record crop, while corn rose as low prices and a US-Canada-Mexico trade deal tempted buyers.

Wheat inched higher, snapping a four-session losing streak.

The Chicago Board of Trade most-active soybean contract had fallen 0.1 per cent to $8.44-3/4 a bushel by 1016 GMT.

US corn and soybean supplies were bigger than expected despite record usage during the summer, the US government said on Friday.

In its quarterly stocks report, the US Department of Agriculture said soybean inventories stood at 438.1 million bushels as of Sept 01, an 11-year high. The corn stockpile totalled 2.140 billion bushels, down 7.0 per cent year on year.

"U.S. inventories are high which is bearish for the market.

But most of the bad news has already been priced into the market and US soybeans are already trading at a deep discount to Brazilian and Argentine beans," said an India-based agricultural commodities analyst.