GRAINS-Soybean futures fall on ample global supply, firmer dollar

BEIJING, Feb 2 (Reuters) - Chicago Board of Trade soybean futures fell on Monday, pressured by ample global supplies and renewed strength in the dollar that made U.S. exports less competitive on the global market.

Wheat and corn futures also traded lower.

FUNDAMENTALS

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was down 0.5% at $10.59 a bushel, as of 0136 GMT, with CBOT wheat Wv1 down 0.9% at $5.33-1/4 a bushel and corn Cv1 trading 0.6% lower at $4.25-3/4 a bushel.

Investors view Warsh as more hawkish on interest rates than other candidates for the post. Market jitters over U.S. President Donald Trump's policymaking, including his criticism of the Fed, had fuelled the dollar's recent slide.

In South America, Brazil is in the early stages of harvesting what is forecast to be a record soybean crop. Traders expect China to turn mainly to Brazil for imports in the coming months after a recent wave of U.S. soybean purchases.

Recent rains across key agricultural regions in western Argentina improved soil moisture conditions, yet soy crops will still need more rainfall in coming weeks to avoid yield losses, the Buenos Aires Grain Exchange said on Thursday.

Commodity funds were net sellers of CBOT corn, wheat and soy futures on Friday, traders said.

MARKETS

Asian share markets mostly followed Wall Street futures lower as chaotic trading in silver made for a nervous start to a week that is packed with corporate earnings, central bank meetings and major economic data. MKTS/GLOB

DATA/EVENTS (GMT)

0030 Japan S&P Global Mfg PMI Final SA January

0145 China RatingDog Manufacturing PMI Final January

0700 UK Nationwide house price mm, yy January

0850 France HCOB Manufacturing PMI January

0855 Germany HCOB Mfg PMI January

0950 EU HCOB Mfg Final PMI January

0930 UK S&P GLOBL MANUFACTURING PMI January

1445 US S&P Global Mfg PMI Final January

1500 US ISM Manufacturing PMI January