GRAINS-Wheat jumps 2%, corn at 7-month high on Black Sea supply worries
* Russia-Ukraine tensions drive wheat, corn futures higher
* Soybeans climb to 1-1/2-week top on South American weather (Recasts with wheat, corn; adds quote in paragraph 3)
By Naveen Thukral
SINGAPORE, Feb 22 (Reuters) - Chicago wheat jumped more than 2% on Tuesday, while corn climbed to its highest in seven months on worries over supply disruption from the key grain exporting Black Sea regions, as Russia-Ukraine crisis deepened.
Soybeans rose for a fourth consecutive session and hit their highest in more than a week on concerns over dry weather in Brazil and Argentina.
"The Russia-Ukraine situation is getting serious," said one Singapore-based grains trader. "The issue will dominate trading direction."
The most-active wheat contract on the Chicago Board of Trade (CBOT) was up 2% at $8.20 a bushel, as of 0152 GMT, after hitting its highest since Jan. 25 at $8.27 a bushel.
Corn gained 1.5% to $6.64 a bushel, having earlier climbed to its highest since June at $6.65 a bushel and soybeans added 1.4% to $16.23-3/4 a bushel, the highest since Feb. 10.
The wheat market is being supported by tensions between leading exporters Russia and Ukraine.
Oil jumped to a seven-year high, safe-havens rallied and U.S. stock futures dived on Tuesday as Europe's eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.
For soybeans, Brazil's farmers had harvested 33% of the country's area as of Thursday, against 24% a week earlier and 15% by the same time last year, but still faced widespread weather-related issues, agribusiness consultancy AgRural said on Monday.
The top grain-producing state of Mato Grosso has been hit by excessive rain, hurting soybean quality, while Brazil's southernmost states have been affected by hot and dry weather recently.
Argentina's 2021/22 soybean and corn crops could see yields continue to decline in the weeks ahead with abundant rains only expected to arrive in mid-March to relieve a lengthy period of dry weather, the Buenos Aires grains exchange said.
Private exporters reported the sale of 198,000 tonnes of soybeans for delivery to unknown destinations, the U.S. Department of Agriculture said. It marked the fourth day in a row a so-called flash sale of soybeans was announced.
Ukraine has exported 42.5 million tonnes of grain so far in the 2021/22 July-June season, up 37.4% from the same stage last season, agriculture ministry data showed.
The total included 17.85 million tonnes of wheat, 5.57 million tonnes of barley and 18.68 million tonnes of corn.
Large speculators raised their net long position in CBOT corn futures in the week to Feb. 15, regulatory data released on Friday showed.
The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, increased their net short position in CBOT wheat and raised their net long position in soybeans. (Reporting by Naveen Thukral; Editing by Subhranshu Sahu and Uttaresh.V)
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