PARIS, Aug 4 (Reuters): Chicago wheat climbed nearly 3 per cent on Friday after a Ukrainian drone attack near the Russian Black Sea export hub of Novorossiysk rekindled fears of war disruption to global supplies.
Corn and soybeans also rose, tracking wheat as the renewed uncertainty about Black Sea trade offset recent pressure from improving weather for US crops.
Ukrainian sea drones attacked a Russian navy base near the port of Novorossiysk, a major terminal for Russian grain and oil exports.
The civilian port temporarily halted all ship movement before resuming normal operations, according to the Caspian Pipeline Consortium which operates an oil terminal there.
"Novorossiysk is a big sea port for grain shipments and attacks could disrupt grain shipments," said Ole Houe, director of advisory services at Australian agricultural brokerage IKON Commodities. "The risk to supplies is very real."
Chicago Board of Trade most active wheat was up 2.8 per cent at $6.44-3/4 a bushel at 1118 GMT, rebounding from a three-week low struck on Thursday.
Traders said a threat to massive Russian shipments through the Black Sea, in addition to already curtailed Ukrainian exports, could unsettle the wheat market, but that like after recent Russian strikes against Ukrainian grain ports participants were assessing the actual impact on trade.
"It's surprising how calm the market is really but it's a case of so long as there isn't serious damage to ports," one European trader said.
War concerns have been countered by continuing competition from Russian wheat and other Black Sea supplies in export markets.
CBOT corn rose 2.4 per cent to $5.05-1/4 a bushel, also rebounding from a three-week low on Thursday.
Soybeans added 1.1 per cent to $13.39-1/2 a bushel, extending a recovery from a one-month low on Wednesday.
Corn and soy prices have been pressured in the past week by a cooler, wetter shift in US weather forecasts for August after a hot spell last month.
Traders were monitoring weather charts, some of which showed less rain than previously projected in the Midwest.
Soybeans have also drawn support by export demand, including new sales of US soybeans to China.
Wider financial markets were awaiting US jobs figures later on Friday as a gauge of economic growth and possible further interest rate policy steps by the Federal Reserve.
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