Chicago wheat, corn get boost on Chinese demand, Black Sea outlook

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Wheat, corn closes higher on Black Sea grains uncertainty

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Chinese demand for U.S. corn drives prices

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Soy dips on sharp fall in stock, oil markets pressure

CHICAGO, March 15 (Reuters) - Chicago wheat and corn futures closed higher on Wednesday on strong demand from China and uncertainty over a Black Sea grain export deal as a deadline loomed.

Soybeans followed stock and oil markets down after Credit Suisse's largest investor said it could not provide the Swiss bank with more financial assistance, and as Brazil's harvest of a massive crop progressed.

The most active wheat contract on the Chicago Board of Trade (CBOT) settled up 6-1/2 cents at $7.02-3/4 per bushel.

Corn closed 5-3/4 cents higher at $6.26-1/2 per bushel. Soybeans settled down 4-1/2 cents at $14.89-1/4 per bushel.

Corn got a boost on demand after the U.S. Department of Agriculture confirmed sales of 667,000 tonnes of U.S. corn to China for 2022/23 delivery.

Farmers in Brazil, the world's top soybean exporter, have harvested over half of an expected record crop, according to analysts.

"They've got a lot of soybeans to get rid of," said Jack Scoville, analyst with the Price Futures Group in Chicago.

Uncertainty over whether a deal to allow grain shipments from Ukraine's Black Sea ports would be extended ahead of a deadline later this week continued to drive prices up, traders said, after Kyiv rejected a Russian push for a reduced 60-day renewal.

Turkey said it would continue discussions to extend the deal for 120 days rather than 60 days while the German government on Wednesday joined calls for Moscow to extend the deal beyond 60 days.

Russia and Ukraine are among the world's largest corn and wheat exporters and the creation of the corridor has helped cool global food commodity prices that hit record highs after Russia invaded Ukraine a year ago.

Moscow said it was counting on the elaboration of an "overall" deal taking into account concerns about its own farm and fertiliser exports. (Reporting by Cassandra Garrison and Naveen Thukral; Editing by Marguerita Choy)