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333725

GRAINS-Wheat slips as Ukrainian supply, recession fears weigh

Sept 19 (Reuters) - U.S. wheat futures slipped in early Asian trading on Monday, pressured by Ukrainian supplies under a deal brokered by the United Nations and Turkey, and concerns that a global recession would dampen demand.

Soybean and corn prices were firmer in choppy trading after four straight sessions of losses.

FUNDAMENTALS

* The most-traded wheat contract on the Chicago Board of Trade (CBOT) was down 0.3% at $8.57-1/4 a bushel, as of 0147 GMT.

* CBOT soybeans edged up 0.5% to $14.55-3/4 a bushel, while CBOT corn gained 0.3% to $6.79 a bushel.

* A total of 165 ships with 3.7 million tonnes of agricultural products on board have left Ukraine under the U.N.-brokered deal to unblock Ukrainian sea ports, the Ukrainian infrastructure ministry said on Sunday.

* On Saturday, the third vessel charted by the United Nations World Food Program left Ukraine's Chornomorsk Black Sea port with around 30,000 tonnes of wheat on board.

* This week will see several central bank policy decisions, with investors awaiting another jumbo rate increase from the U.S. Federal Reserve at its Sept. 20-21 meeting.

* Ukrainian President Volodymyr Zelenskiy said on Friday he would only back the idea of reopening Russian ammonia exports through Ukraine if Moscow handed back prisoners of war, an idea the Kremlin quickly rejected.

* Analysts said U.S. soybean futures may remain volatile amid stiff export competition from South America and fears of a global recession.

* Commodity funds were net sellers of CBOT corn, soybean and soymeal futures contracts on Friday, and net buyers of wheat and soyoil futures.

MARKET NEWS

* Share markets idled in Asia as investors braced for a week littered with 13 central bank meetings that are certain to see borrowing costs rise across the globe. (Reporting by Enrico Dela Cruz in Manila; Editing by Subhranshu Sahu)

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