GRAINS-Corn and wheat fall as investors assess reports of US ceasefire plan

PARIS/BEIJING, March 25 (Reuters) - Chicago corn and wheat futures fell on Wednesday, tracking weakness in crude oil following U.S. proposals to end the Middle East war.

Soybeans ticked higher, with weakness in soyoil offset by technical strength in soymeal.

Oil prices dropped more than 5%. Reports of a 15-point U.S. plan, following President Donald Trump's comments this week about talks with Tehran, have fuelled investor hopes of de-escalation in the U.S.-Israeli conflict with Iran. O/R

Grain and oilseed prices have broadly tracked fluctuations in crude oil during the conflict, reflecting the use of corn and soyoil in biofuels and investor interest in the crops as an inflation hedge.

However, Iranian denials of negotiations with Washington and continuing strikes in the war have maintained caution over the course of the war.

"Oil is lower this morning but, with recent volatility, headlines can change things quickly," CM Navigator Donatas Jankauskas said.

The most-active corn contract Cv1 on the Chicago Board of Trade (CBOT) was down 0.6% by 1207 GMT at $4.59-3/4 a bushel, while CBOT wheat Wv1 was 1.4% lower at $5.81-3/4 a bushel.

CBOT soybeans Sv1 ticked up 0.4% to $11.59-3/4 a bushel.

Grain markets are also assessing potential repercussions on crop production from war-related tensions in fertiliser markets.

Russia, which controls up to 40% of the global trade in ammonium nitrate, said on Tuesday it will stop exports of the fertiliser for one month until April 21 to ensure sufficient domestic supply.

Rising fertiliser and fuel prices may influence farmers' planting decisions, increasing interest in U.S. Department of Agriculture acreage estimates next week.

Grain traders are awaiting direction too from revised U.S. biofuel blending targets due by the end of the month, which could expand demand for feedstocks like soyoil.

The wheat market, meanwhile, is weighing the risk of drought damage to U.S. crops against a backdrop of ample global supply as illustrated by rising Russian exports this month.