CBOT wheat dives on Ukraine talks, dollar strength

March 24 (Reuters) - Chicago Board of Trade wheat futures slumped as the U.S. and Russia continued talks over Russia's war in Ukraine and a strong dollar weighed on futures.

• CBOT May soft red winter wheat WK25 settled down 10 cents at $5.48-1/4 a bushel.

• K.C. May hard red winter wheat KWK25 ended down 10-3/4 cents at $5.78 per bushel and Minneapolis May spring wheat MWEK25 fell 12-3/4 cents to end at $5.92-1/4 per bushel.

• Traders were monitoring talks between Washington and Moscow over Russia's war on Ukraine, including the impact on Black Sea shipping, said analysts.

• Progress in this area would be price-bearish as a ceasefire could create more security for Russian and Ukrainian export shipments.

• Strength in the dollar weighed on grains, with the dollar jumping to multi-week highs against the euro and yen on Monday after data showed U.S. business activity picked up in March.

• A strong dollar tends to make U.S. exports more expensive and less competitive to holders of other currencies.

• The U.S. Department of Agriculture reported weekly grain export inspections for wheat at 484,701 metric tons, above trade expectations for 200,000-400,000 tons.