SYDNEY, Oct 19 (Reuters) - U.S. wheat futures rose 1% on Monday as concerns about global production pushed prices to a near six-year high.
FUNDAMENTALS
* The most-active wheat futures on the Chicago Board of Trade were up 1% at $6.31-1/2 a bushel by 0128 GMT, near the session high of $6.33 a bushel - the highest since December 2014. Wheat closed up 1.1% on Friday.
* Soybean futures were up 0.3% at $10.52-3/4 a bushel, having closed down 1.2% on Friday.
* Corn futures were up 0.6% at $4.04-1/4 a bushel, having closed down 0.4% in the previous session.
* Wheat is drawing support amid concerns over production in Argentina, the U.S. Plains and the Black Sea region.
* Argentina's 2020/21 wheat crop is estimated at 17 million tonnes, the Rosario grains exchange said in its monthly crop report last week, citing dryness and frosts as reasons for cutting its previous 18 million tonne estimate.
* The U.S. Department of Agriculture, in its daily reporting system for export sales, said shippers struck deals to sell a total of 391,150 tonnes of U.S. soybeans to unknown destinations. Exporters separately sold 128,000 tonnes of U.S. corn to Mexico.
MARKET NEWS
* The dollar clung to gains on Monday, supported by investor worries about the looming U.S. election and the fading prospects of any fiscal stimulus beforehand, while the Chinese yuan held firm ahead of the release of quarterly growth data.
* Oil prices edged up in early Asian trade ahead of China's economic growth data, which is expected to show recovery in the top oil importer, offsetting concerns of an impact from the virus' resurgence on consumption and rising supply.
* Asian markets started higher on Monday, buoyed by hopes of a U.S fiscal package before the U.S. presidential elections next month and expectations of a coronavirus vaccine by the end of this year, though the mood was still cautious as infections jump.
(Reporting by Colin Packham; editing by Uttaresh.V)
