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GRAINS-Wheat falls back after surge on war escalation

* Grain corridor talks eyed after Russia strikes Ukraine cities * Moscow says could scrap end-of-season export quota * Corn, soy consolidate as economy risks, U.S. crop data watched (Updates with European trading, changes byline/dateline) By Gus Trompiz and Naveen Thukral PARIS/SINGAPORE, Oct 11 (Reuters) - Chicago wheat futures fell back on Tuesday after jumping to a three-month high a day earlier, with the market watching to see if escalation in the war between Russia and Ukraine would hamper vital Black Sea grain trade. Corn and soybeans rose were little changed as investors assessed demand risks and looked ahead to widely followed U.S. government crop forecasts on Wednesday. The Chicago Board of Trade (CBOT) most-active wheat contract was down 1.1% at $9.27-1/2 a bushel by 1148 GMT. On Monday, the contract closed up 6.6% after touching its highest since late June during the session. Ukrainian President Volodymyr Zelenskiy will ask the leaders of the G7 group of nations to urgently supply Ukraine with air defence weapons on Tuesday, after Russia rained down cruise missiles on cities across the country. The escalation fanned fears that a Black Sea shipping corridor agreement for Ukrainian grain exports may lapse, despite U.N. efforts to negotiate an extension. "Russia’s escalation calls into question the future of the Black Sea grain export deal," ING analysts said in a note. "In addition, there is a backlog of vessels awaiting inspection," it said regarding the shipping corridor. However, comments by Russian Deputy Prime Minister Viktoria Abramchenko indicating that Moscow could scrap a grain export quota for the second half of the season in view of its bumper harvest put attention back on large Russian supplies. "Russia has a big crop to sell and it will go hard on exports," said a Sydney-based agricultural commodities analyst. Investors were also adjusting positions ahead of the U.S. Department of Agriculture's (USDA) monthly World Agricultural Supply and Demand Estimates and Crop Production reports on Wednesday. Traders are notably focusing on revisions to U.S. corn and soybean harvest estimates. CBOT corn ticked up 0.1% to $6.99-1/4 a bushel and soybeans inched down 0.1% to $13.72-1/4 a bushel. Weakness in commodity and equity markets curbed grains, with renewed coronavirus restrictions in China adding to worries about slowing global demand. Prices at 1148 GMT Last Change Pct End 2021 Ytd Pct Move Move CBOT wheat 927.50 -10.50 -1.12 770.75 20.34 CBOT corn 699.25 1.00 0.14 593.25 17.87 CBOT soy 1372.25 -1.75 -0.13 1339.25 2.46 Paris wheat 359.75 -4.50 -1.24 276.75 29.99 Paris maize 343.75 -3.00 -0.87 226.00 52.10 Paris rape 634.25 -8.25 -1.28 754.00 -15.88 WTI crude oil 89.14 -1.99 -2.18 75.21 18.52 Euro/dlr 0.97 0.00 0.22 1.1368 -14.49 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne (Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Sherry Jacob-Phillips, Subhranshu Sahu and David Evans)

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