Wheat rises on Ukraine supply concerns, new-crop soy dips

CHICAGO, Aug 20 (Reuters): US wheat futures advanced on Tuesday on concerns about reduced supplies from Ukraine, a major exporter, while new-crop soybeans slipped as a widely watched crop tour projected bumper US harvests.
Traders focused on Ukraine, expected to be the world's second-largest grain exporter in the 2014/15 marketing year, as a spokesman for the prime minister said the country will lose 15 percent of its grain crop in two violence-hit regions.
Concerns that Ukraine may possibly scale back exports helped fuel gains, said Jerry Gidel, chief feed grain analyst for Rice Dairy in Chicago.
"In reality there's probably not going to be any long-term halt of exports," he said.
Chicago Board of Trade December wheat rose 0.8 percent to $5.58-1/2 a bushel after closing down 1.6 percent on Monday, when worries about the conflict between Ukraine and Russia temporarily eased.