GRAINS-Wheat falls on profit-taking, but Black Sea export squeeze looms large

Chicago wheat prices fell on Monday as investors took profits after last week's gains but bullish influences remain from prolonged disruption to Russian and Ukrainian exports through the Black Sea.

The most active wheat contract Wv1 on the Chicago Board of Trade (CBOT) was down 0.7% at $6.85 a bushel by 1205 GMT after coming close to the psychological $7 threshold.

"There's a bit of profit-taking this morning, but the Black Sea is still a massive issue," one European trader said of wheat.

Corn and soybeans edged higher, supported by firm crude oil and caution over U.S. yield prospects before a widely followed Midwest crop tour this week.

CBOT soybeans Sv1 added 0.6% to $11.99-1/2 a bushel while CBOT corn Cv1 rose 0.6% to $4.86-1/4 a bushel.