CBOT soybeans gain on bargain-buying

CHICAGO, March 25 (Reuters) - Chicago Board of Trade soybean futures ticked higher on bargain-buying on Wednesday.

• Soybeans have taken a nosedive from highs hit at the outset of the Middle East war, making them an attractive prospect for bargain-buying.

• Oil prices dropped more than 5% following U.S. proposals to end the war. O/R

• 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.

• Grain and oilseed prices often track 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.

• 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 such as soyoil.

• CBOT May soybeans SK26 settled 16-3/4 cents higher to $11.71-3/4 per bushel.

• CBOT May soymeal SMK26 fell $2.60 to end at $319.80 per short ton.

• CBOT May soyoil BOK26 ended up 1.37 cents to 67.10 cents per pound.