Nov 8 (Reuters) -ICE cotton futures slipped more than 1% on Wednesday amid demand concerns, while investors hunkered down for a key federal monthly supply and demand report.

* Cotton contracts for December CTZ3 fell for a fourth straight session, declining 1.14 cent, or 1.49%, at 75.34 cents per lb at 11:53 a.m. ET (1653 GMT). Prices were down 2% on Tuesday.

* "The market has been a whole lot weaker as there seems to be fears about the economy. There was a lot of liquidation in the market yesterday, its a money thing, when people start losing money, they bail out," said Kansas-based commodity analyst Sid Love.

* Market focus now shifts to the U.S. Department of Agriculture's (USDA) World Agricultural Supply and Demand Estimates (WASDE) report due on Thursday.

* "I think the (WASDE) report should be friendly for U.S. and world cotton carryovers should be down," Love said.

* Oil prices slid more than $1 to their lowest in more than three months on concerns over waning demand in the United States and China. O/R

* Lower oil prices make polyester, a cotton substitute, less expensive.

* The USDA in a weekly crop progress report said on Tuesday 57% of the cotton crop was in good to excellent condition compared with 49% last week.

* In the grain market, Chicago soybean prices firmed more than 1%, while wheat edged higher, recouping some of the previous session's losses. GRA/

Reporting by Daksh Grover in Bengaluru; Editing by Shailesh Kuber