* Wheat lower on news of rain in U.S. Plains and Russia
* Soy rises on technical trading
* Corn little changed amid lack of fresh news
CHICAGO, May 1 (Reuters) - Chicago Board of Trade (CBOT) benchmark wheat futures fell on Wednesday after ticking up in the early session as much-needed rainfall reaches key wheat-growing areas of the U.S. Plains and southern Russia.
Soybean futures climbed on spread trading, while corn drifted slightly lower on generally favourable U.S. planting conditions and a lack of market-moving news, traders said.
"Corn is going to spin its wheels for the near term," Tom Fritz, broker at EFG Group, said.
The most-active CBOT wheat contract was down 6-3/4 cents at $5.96-1/2 a bushel by 1650 GMT, while CBOT soybeans were up 4-3/4 cents at $11.68 a bushel and corn gained 1-3/4 cents at $4.48-1/2 a bushel.
The CBOT reported 678 contracts delivered against Chicago May wheat futures, adding downward pressure to prices. Bearish news of strong deliveries against May soyoil futures were offset by commercial stoppers.
In Argentina, a major soy exporter, oilseed sector workers lifted a two-day strike that had held up shipments of soy, corn and wheat.
Grains prices were also weighed down by
lower crude oil
prices that dipped on news of a potential ceasefire in Gaza, strong global competition and a strengthening U.S. dollar, Ryan Kelbrants, broker at CHS Hedging, said.
Traders are also turning their attention to upcoming spring planting weather in the U.S. Midwest for soybeans and corn, which remains largely positive though upcoming rainy weather may temporarily delay planting. (Reporting by Heather Schlitz in Chicago; Peter Hobson in Canberra and Nigel Hunt in London; Editing by Marguerita Choy)
