GRAINS-Broad buying lifts US grain futures from multi-week lows

By Tom Polansek

CHICAGO, Jan 5 (Reuters) - U.S. grain and soybean futures recovered from multi-week lows on Monday as broad-based buying helped boost prices.

Equities, metals and energy markets also advanced after the U.S. capture of Venezuelan President Nicolas Maduro.

"In general, it's a risk-on trade, and we were pretty oversold coming in," said Matt Wiegand, commodity broker for FuturesOne.

The most-active soybean contract Sv1 on the Chicago Board of Trade was up 16 cents at $10.61-3/4 a bushel at 11:20 a.m. CST (1720 GMT). CBOT wheat Wv1 was up 5-1/4 cents to $5.11-3/4 a bushel, while corn Cv1 jumped 6-3/4 cents to $4.44-1/4 a bushel after falling earlier to its lowest level since December 17.

On Friday, soybean and wheat prices hit their lowest since late October.

"Soybeans recouped part of Friday's losses on bargain buying," said Cheang Kang Wei, vice president at StoneX in Singapore.

Traders returning from year-end holidays were waiting for the U.S. Department of Agriculture to issue key data on global supplies and demand on January 12. Among other data, they will examine quarterly U.S. grain and soy stocks as of December 1.

U.S. farmers harvested a record-large corn crop last year, though strong export demand limited an increase in stocks.

"We really front loaded corn shipments," Wiegand said. "If that stocks number comes in light, that can give things a jolt."

Wheat traders continued to monitor developments in Russia's war in Ukraine, a major grain exporter. An overnight attack on Kyiv killed two people in the Ukrainian capital, according to authorities.

Global supplies remained ample, though. Argentina and Australia were wrapping up bumper wheat harvests, while Brazil was starting to bring in what is forecast to be a record soybean crop.

Traders were also watching for positioning by investment funds in the coming days linked to annual changes in the composition of commodity indexes. The reweighting was expected to lead to fund buying of wheat and corn, analysts said.