GRAINS-Chicago wheat flat after Ukraine strike raises Black Sea export concerns

Chicago wheat futures were largely flat on Thursday after a sharp rise in the previous session, when Ukraine attacked grain terminals at a major Russian port, raising concerns about disruption to Black Sea grain exports.

The most-traded wheat contract on the Chicago Board of Trade (CBOT) Wv1 edged 0.2% lower at $6.51-1/4 a bushel at 0248 GMT, after rising 3.6% in the previous session.

Wheat is up nearly 30% so far this year following drought that damaged U.S. winter wheat and attacks by Ukraine and Russia, two of the biggest global suppliers, on each other's export operations.

Corn futures fell as the Rosario grain exchange raised its forecast for Argentina's harvest to record-high levels, but prices maintained most of the gains made on Wednesday after the U.S. Department of Agriculture (USDA) said strong demand would eat into U.S. inventories.

Among other crops, CBOT corn Cv1 slipped 0.6% to $4.77-3/4 a bushel after surging 4.4% to a two-week high on Wednesday. Meanwhile, soybeans Sv1 were flat at $11.81-3/4 a bushel after rising 1.2% in the previous session.

A Ukrainian strike on Russia's Novorossiysk port city forced two major grain terminals to halt operations on Wednesday, and Russia overnight hit Ukraine's Izmail port area, causing damage and fire.