April 9 (Reuters) -ICE cotton futures prices were little changed on Tuesday, as traders held back from placing big bets ahead of a federal monthly supply-demand report from the U.S. Department of Agriculture (USDA) due later this week.

* Cotton contract for May CTc1 fell 0.2 cent, or 0.2%, to 86.45 cents per lb by 12:05 p.m. ET (1205 GMT).

* "Good supplies, no demand, and the market doesn't go up," said Jack Scoville, vice president at Chicago-based Price Futures Group.

* "The next big reports from USDA is Thursday's export sales data and the monthly supply-demand report that could move the market a little bit," Scoville added.

* Traders now await the release of the World Agriculture Supply and Demand Estimates (WASDE) report, due on April 11, as well as export sales data due on Thursday.

* Elsewhere, Chicago wheat, corn and soybean futures eased as the markets assessed chances for improving U.S. field weather while looking ahead to major grain and economic data this week.GRA/

* Global shares were mixed ahead of this week's U.S. inflation data and a crucial European Central Bank meeting. .N MKTS/GLOB

* Oil prices dipped for a second straight day as talks for a ceasefire in Gaza continued, but losses were limited as Egyptian and Qatari mediators met resistance in their search to find a way out of the war. O/R

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

Reporting by Rahul Paswan in Bengaluru; Editing by Vijay Kishore