SINGAPORE, Dec 29 (Reuters) - Chicago wheat and corn futures slid on Friday, with both markets on track for their biggest annual drop in a decade this year as easing supply bottlenecks in the Black Sea region and higher production added pressure on prices.

Soybeans were poised for their first annual decline in five years amid plentiful supplies from top exporter Brazil in 2023.

FUNDAMENTALS

* The most-active wheat contract on the Chicago Board of Trade (CBOT) has lost more than 20% of its value in 2023, while corn is down more than 30%. Soybeans have lost almost 14% this year, the biggest annual fall since 2015.

* Grain and oilseed prices, which have rallied for the past several years, came under pressure in 2023, easing food supply worries as the opening of new shipping corridor in the Black Sea region boosted shipments from war-torn Ukraine amid higher output in Russia.

* Soybeans are being weighed down by record supplies from No. 1 exporter Brazil.

* In 2024, consumers could face tighter supplies amid adverse El Nino weather, export restrictions and higher biofuel mandates.

* Any disruptions to Black Sea supplies are likely to support prices.

* A bulk carrier headed to a River Danube port to load grain hit a Russian mine in the Black Sea on Wednesday, injuring two crew members, Ukrainian officials said on Thursday.

* For Brazil, weather charts showed uneven showers in the week ahead in dry parts of central and northern Brazil before widespread heavy rain expected in early January.

* Argentine farmers made good progress sowing corn and soy crops following recent abundant rainfall, the Buenos Aires grains exchange said on Thursday, as industry groups prepare to fight government plans to hike export taxes on their produce.

* The grains exchange said in a weekly report that soybean planting is 78.6% complete after advancing 9.5 percentage points in seven days, while corn planting has also progressed well and is now 69.9% complete.

* Commodity funds were net buyers of CBOT wheat futures contracts on Thursday and net sellers of soybean, soymeal, soyoil and corn futures, traders said.

MARKET NEWS

* World shares edged up on Thursday as expectations of interest rate cuts stretched a rally in U.S. stocks, while benchmark Treasury yields and the dollar lifted slightly from five-month lows.

DATA/EVENTS (GMT) 0700 UK Nationwide house price MM, YY Dec (Reporting by Naveen Thukral; Editing by Subhranshu Sahu)