GRAINS-Wheat leads grains higher with Russian strikes in focus

By Heather Schlitz

CHICAGO, Dec 22 (Reuters) - Chicago wheat rebounded on Monday as reports of more Russian strikes on Ukrainian port infrastructure rekindled concerns about war risks to Black Sea grain trade, encouraging investors to cover short positions after an eight-week low last week.

Soybeans were also higher, breaking a run of six falling sessions, as the oilseed found further support in a crude oil rally and an easing dollar =USD.

"We're holding firm because Russians are bombing the heck out of the Ukrainians again, and it's unknown how much Ukraine can export these days," said Jack Scoville, vice president of Price Futures Group.

Corn tracked wheat and soybeans higher, with strong export demand for the grain also supporting prices.

The most-active wheat contract Wv1 on the Chicago Board of Trade was up 4-3/4 cents to $5.14-1/2 per bushel as of 10:30 a.m. CT (1630 GMT).

CBOT soybeans Sv1 rose 2 cents to $10.51-1/4 a bushel, having hit an eight-week low on Friday. CBOT corn Cv1 added 1-1/4 cents to $4.45 a bushel.

After ample global supply and doubts over Chinese demand pushed Chicago grains to multi-week lows in recent days, war headlines helped prices recover.

Russian forces hit port and energy infrastructure in Ukraine's Odesa region, sparking a fire that burned 30 containers of flour and vegetable oil at the port of Pivdennyi, a senior Ukrainian official said on Monday.

Russia has increased attacks on the Odesa region on the Black Sea coast in recent weeks, disrupting Ukraine's grain export logistics.

Large wheat harvests in Argentina and Australia are nonetheless further swelling global supply, keeping prices in check.

The prospect of another bumper harvest in Brazil this season has hung over the soybean market, even as traders remained sceptical about the pace of Chinese purchases of U.S. beans under a bilateral trade truce.

However, broad buying across agricultural commodities, typical ahead of a year's end, added support to soybean futures despite bearish fundamentals.