SINGAPORE, Jan 3 (Reuters) - Chicago corn and soybean futures edged higher on Monday with both markets starting 2022 on a positive note as strong demand underpinned prices.
Wheat gained ground, supported by shrinking world supplies.
FUNDAMENTALS
* The most-active corn contract on the Chicago Board of Trade (CBOT) was up nearly 1% at $5.99 a bushel, as of 0115 GMT, soybeans added 0.8% to $13.50-1/2 a bushel and wheat gained 0.6% at $7.75-1/4 a bushel.
* Corn futures, which climbed more than 20% in 2021, paced the grain markets, supported by increased feed usage by livestock as well as a rebound in the ethanol sector as drivers returned to the roads due to the easing COVID-19 restrictions. The corn market has risen for four years in a row.
* Wheat futures were up 20.3% last year, the market's fifth straight yearly gain and its biggest since 2010. Crop problems in Australia and worries about export curbs in Russia have supported the wheat market through 2021.
* Ukraine has exported 32.2 million tonnes of grain in the first half of the 2021/22 July-June season, up 23.5% from the same stage a season earlier, agriculture ministry data showed on Friday.
* Commodity prices from energy and metals to agricultural products rebounded sharply in 2021, with power fuels leading the rally, driven by tight supplies and a strong economic recovery as COVID-19 vaccinations staved off widespread lockdowns.
* Commodity funds were net sellers of CBOT wheat, soymeal and corn futures contracts on Friday and net buyers of soybean and soyoil futures, traders said.
MARKET NEWS
* Equities around the globe traded little changed on Thursday as oil prices fell and the U.S. dollar dipped against most major currencies although it has had its best year since 2015 with a 6.7% rise.
DATA/EVENTS (GMT, Dec) 0850 France Markit Mfg PMI 0855 Germany Markit/BME Mfg PMI 0900 EU Markit Mfg Final PMI 1445 US Markit Mfg Final PMI (Reporting by Naveen Thukral; Editing by Sherry Jacob-Phillips)
