Soybeans exceed two-month high

CHICAGO, Oct 02 (Reuters): US soybean futures prices rose to the highest level in more than two months on Tuesday, adding to gains from the previous session when Chinese purchases and a lower-than-expected estimate of US stockpiles buoyed prices.

Corn also advanced after rallying 4.0 per cent on Monday as a quarterly US Department of Agriculture (USDA) grain stocks report pegged corn and soy inventories below traders' expectations.

The inventory estimates heightened concerns about supplies and questions over whether the USDA may be overstating the size of the upcoming autumn harvests. Traders are uncertain about the crops after historic flooding delayed plantings in the spring and as harvests are off to a slower than normal start.