Grains-CBOT soybeans sink on favorable US weather

He said the wheat crop was still getting support from hostilities in the Black Sea.

Concerns over Black Sea exports were reinforced after three major Russian grain terminals restricted truck deliveries, citing heightened shipping risks following recent attacks and changes to grain flows after restrictions in the Sea of Azov.

A missile strike also hit the Russian port city of Taganrog, a grain-export hub on the Sea of Azov, underscoring the security risks facing the region's supply chains.

Place said wheat futures are being pressured by large global supplies of the grain as the harvest winds down. "It just can't get where it needs to go," said Place.

Chicago soybeans and corn sagged on Wednesday as favorable weather was forecast for U.S. Midwest growing areas.

Wheat ticked down as traders assessed fresh disruptions to Black Sea grain exports against large global supplies, after Russia and Ukraine continued attacks on vessels and port infrastructure in the region.

The most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 lost 28 cents to $11.92 a bushel at 12:16 p.m. CDT (1716 GMT) and corn Cv1 fell 8-1/4 cents at $4.72-1/4 a bushel.

The most active wheat contract Wv1 lost 1-1/2 cents to $6.61 a bushel.

In the U.S. Midwest, forecasters are predicting rain near the end of the week, which is vital for the soybean crop as it reaches the pod-setting phase of its development, said Randy Place, analyst at the Hightower Report.

"Rain will be exactly what it needs," said Place of the crop.