BEIJING, Jan 5 (Reuters) – Chicago wheat futures rose on Monday as traders assessed Ukraine peace talks and dry weather in the U.S. Plains, while ample global supplies capped gains.

Soybeans and corn both edged higher after five straight sessions of falls, with corn supported by strong export demand.

* The most-active wheat contract on the Chicago Board of Trade (CBOT) gained 0.2% to $5.07-1/2 a bushel by 0135 GMT. Corn rose 0.11% to $4.38 a bushel.

* CBOT soybeans climbed 0.45% to $10.50-1/2 a bushel, though prices remained near levels that have almost wiped out gains made since the late-October trade truce between Beijing and Washington.

* Chicago soybeans remain under pressure from competition with Brazil, the world’s top exporter, as Brazilian supplies are currently priced more competitively than U.S. beans.

* Favourable South American weather continues to bolster production prospects. Forecaster Vaisala said last week that recent rainfall had improved soil moisture in Brazil’s growing areas, with additional rain expected in northern areas through early this week.

* Last week, the U.S. Department of Agriculture released details about how much row crop farmers will receive next year from a $12 billion aid programme, but soybean growers say such payments fall short of helping those hurt by low crop prices and trade disputes.

* Market players continued to monitor the progress in negotiations to end Russia’s war in Ukraine. Russia launched an air attack on Kyiv, the Ukrainian capital, Mayor Vitali Klitschko said on Monday.

* Any resolution to the nearly four-year conflict would likely weigh on wheat prices, as reduced shipping risks could lower export costs and improve access to Ukrainian ports.

* Dry conditions in the U.S. Southern Plains offered some support to wheat prices.

* Strong U.S. export demand also supported corn prices.

* Asian stocks opened higher and oil prices were choppy on Monday as investors looked past U.S. military action over the weekend in Venezuela to prepare for a packed week of economic data releases in the first full trading week of the year.

1500 US ISM Manufacturing PMI Dec (Reporting by Ella Cao, Daphne Zhang and Lewis Jackson; Editing by Subhranshu Sahu)