SYDNEY, Sept 15 (Reuters) - U.S. soybean futures edged higher for a third straight session on Tuesday as strong demand from China - the world's largest buyer - pushed prices towards a two-year high.
FUNDAMENTALS
* The most-active soybean futures on the Chicago Board of Trade were up 0.1% at $10.00-1/4 a bushel by 0122 GMT, having firmed 0.4% on Monday when prices hit a June 2018 high of 10.08-3/4 a bushel.
* Corn futures rose 0.1% to $3.69 a bushel, having gained 0.3% in the previous session.
* Wheat futures were little changed at $5.81-3/4 a bushel, having closed up 0.7% on Monday.
* The U.S. Department of Agriculture on Monday confirmed fresh sales of U.S. soybeans and corn to China.
* * The USDA on Friday lowered its forecasts of U.S. soybean production and 2020/21 ending stocks.
* Analysts noted that the government left its estimate of U.S. 2020/21 soybean exports unchanged in its report despite an uptick in soybean sales to China, a factor that fed expectations that USDA might further trim its stocks forecasts in coming months.
* Total Canadian wheat production in 2020 is set to increase by 5.6% from 2019, thanks largely to higher output of durum and winter wheat, according to estimates released by Statistics Canada.
MARKET NEWS
* The dollar dipped against riskier currencies as hopes for a COVID-19 vaccine and big corporate deals improved investor appetite for assets such as the yuan and the euro.
* Oil prices inched lower as a bleaker outlook for global fuel demand prompted fresh selling, but short-covering ahead of a meeting later this week of OPEC and its allies limited losses.
* Asian shares looked set to open lower as investors shifted focus to upcoming data and central bank meetings.
(Reporting by Colin Packham; editing by Uttaresh.V)
