CANBERRA, Dec 6 (Reuters) - U.S. soybean futures edged higher, as strong demand for U.S. supplies pushed prices to a two-week high.
FUNDAMENTALS
* The most active soybean futures on the Chicago Board Of Trade were up 0.2% at $12.70 a bushel by 0221 GMT, near the session high of $12.74-3/4 a bushel, their highest since Nov. 24. Soybeans closed up 1.9% on Friday.
* The most active wheat futures were up 0.8% at $8.09-3/4 a bushel, after closing up 1.4% on Friday.
* The most active corn futures were unchanged at $5.84 a bushel, having closed up 1.3% in the previous session.
* Private exporters sold 122,000 tonnes of U.S. soybeans to unknown destinations for the 2021-2022 marketing year, the U.S. Department of Agriculture said last week.
* China's soybean imports from the United States in 2021/2022 are expected to fall sharply from last season after loading delays following Hurricane Ida.
* Russia considers setting its grain export quota at 14 million tonnes, including 9 million tonnes of wheat, for Feb. 15-June 30, the Interfax news agency reported on Friday, citing a source, familiar with discussions.
* Global supply worries have eased in recent days amid signs of a stabilizing U.S. crop, and Australia's chief commodity forecaster, ABARES, revised its official estimate for the 2021/22 crop to a record 34.4 million tonnes.
MARKET NEWS
* Riskier currencies fought for a foothold against a dollar, buoyed by uncertainty around the Omicron variant and the expectation of more hot U.S. inflation data putting upward pressure on interest rates.
* Oil prices rose by more than $1 a barrel after top exporter Saudi Arabia raised prices for its crude sold to Asia and the United States, and as indirect U.S.-Iran talks on reviving a nuclear deal appeared to hit an impasse.
* Asian share markets got off to a cautious start as Omicron emerged in more countries and investors faced a week-long wait for key U.S. inflation figures that could settle the course of interest rates. (Reporting by Colin Packham; Editing by Rashmi Aich)
