GRAINS-Chicago grains, oilseeds plummet on oil fall, weather, technical trading

Chicago Board of Trade most-active soybeans Sv1 settled down 39-3/4 cents, more than 3%, at $12.13-3/4 per bushel. Corn Cv1 finished 13-1/2 cents lower at $4.47 a bushel, and wheat Wv1 settled down 18 cents at $6.60 per bushel.

Attacks on grain infrastructure and ships by Russia and Ukraine continued to hamper the movement of cargoes, threatening supplies to importers in the Middle East, Africa and Asia.

Attention remained on reports Ukraine was discussing possible mechanisms to keep vessels moving through its major export ports, raising hopes that Black Sea exports may avoid a major disruption, despite a Ukrainian denial.

Russia had earlier in July introduced a temporary nighttime ban on vessel sailings in Novorossiysk following Ukrainian drone attacks.

Chicago soybeans, corn and wheat sagged on Monday, weighed down by a sharp drop in crude oil prices spurred by optimism that diplomatic efforts could de-escalate the conflict in the Middle East.

Wheat also dropped after hitting a two-year high on Friday on hopes that Russian-Ukrainian attacks on ports and shipping may recede.

Oil prices fell to a one-week low on Monday after the United States abruptly suspended a campaign of air strikes against Iran over the weekend, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz.

Prices of agricultural products are often influenced by energy markets, with the rapidly growing use of farm goods in biofuel production.