GRAINS-Wheat rises on dollar, supply worries; corn, soybeans firm

By Naveen Thukral

SINGAPORE, March 20 (Reuters) - Chicago wheat futures rose on Thursday, recouping last session's losses as the dollar pared gains and slowing grain shipments from top supplier Russia raised concerns over supplies.

Soybeans rose for the first time in three sessions, while corn gained for a second day in a row.

The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 rose 0.8% to $5.67-3/4 a bushel, as of 0235 GMT, soybeans Sv1 added 0.4% to $10.12 a bushel and corn Cv1 rose 0.8% to 4.65-1/2 a bushel.

The dollar was softer after the Federal Reserve indicated interest rate cuts were likely later this year even as uncertainty around U.S. tariffs weighed, while the pound hit a four-month high ahead of the Bank of England's policy decision. USD/

A weaker dollar makes greenback-priced commodities cheaper for buyers holding other currencies.

Russia's seaborne grain exports dropped by 52.3% year-on-year in February to 2.4 million metric tons, shipping data from industry sources showed on Wednesday.

Russia, the world's top wheat exporter, shipped grain to global markets at a record pace in the first part of the 2024/25 marketing season, which began on July 1 last year, but a February export quota and bad weather at ports led to a sharp decline in exports.

However, traders are also monitoring results of a call between the leaders of the U.S. and Ukraine regarding Russia's invasion of Ukraine. An end to hostilities would be bearish news for wheat futures as it would create more security for Black Sea exports.

Commodity funds were net sellers of CBOT corn, soybean, soymeal, soyoil and wheat futures contracts on Wednesday, traders said. COMFUND/CBT