KUALA LUMPUR, Oct 7 (Reuters) - U.S. wheat and soybean futures edged higher on Monday, on track for a second session of gains, ahead of U.S. Department of Agriculture (USDA) data that will estimate U.S. 2019/20 ending stocks for wheat, corn and soybeans.
FUNDAMENTALS
* The most active wheat futures on the Chicago Board Of Trade were up 0.6% at $4.93 a bushel at 0022 GMT on Monday, having closed up 0.4% on Friday.
* The most active soybean futures were up 0.4% at $9.20 a bushel, having risen 0.5% on Friday.
* The most active corn futures rose 0.7% to $3.87-1/4 a bushel, after closing down 1% in its previous session.
* A Russian Deputy Prime Minister in charge of agriculture has proposed the creation of a grain organisation along the lines of the Organization of the Petroleum Exporting Countries (OPEC), Interfax news agency reported on Saturday, citing his office.
* The market is waiting on latest USDA data on production and inventory levels. The report is scheduled for release on Thursday, Oct. 10, at 12 p.m. EDT (1600 GMT).
MARKET NEWS
* The dollar inched lower on Friday, giving up gains fueled by a generally solid U.S. jobs report that slightly underperformed expectations, as investors worried about political risk in the United States and ongoing trade talks with China.
* Oil prices rose about 1% on Friday as an increase in U.S. jobs eased some financial market concerns that a slowing global economy could dent oil demand, but crude fell more than 5% on the week, its second consecutive weekly decline.
* The S&P 500 e-minis fell by 13.5 points or 0.46 percent, while 10-year Treasury futures remained unchanged.
(Reporting by Emily Chow; editing by Richard Pullin)
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