Grains-Wheat rebounds as traders weigh Black Sea attacks, weaker US dollar

"What we're seeing is filling in the back-and-forth trade ahead of the USDA reports," said Sherman Newlin, senior market strategist with Zaner Ag Hedge.

The most-traded CBOT corn contract Cv1 was up 0.43% to $4.64 a bushel at 11:40 a.m. CDT (1640 GMT), while soybeans Sv1 were up 0.06% at $11.78-1/2 a bushel. CBOT most-active wheat contract Wv1 was 1.54% up at $6.41 a bushel.

Traders have been weighing disruption to shipments from Russia and Ukraine against large global supply, including in the Black Sea region, and slow demand from importers.

"The grain is there," said Commonwealth Bank analyst Dennis Voznesenski. "The big question now is whether they can get it out. That's the determining factor of whether we see prices go up or down."

On Thursday, the governor of Ukraine's Odesa Region said a Russian attack had damaged a foreign-flagged ship loaded with wheat, killing one crew member and causing a fire. On Friday, traders said there was more unconfirmed talk of drone attacks at Russia's Black Sea port of Novorossiysk that may have damaged vessels.