Chicago grains steady after slide to multi-month lows

PARIS/BEIJING, Oct 22 (Reuters) - Chicago corn and soybean futures edged up on Thursday while wheat was flat, as markets recovered from dropping to their lowest in months a day earlier when an advancing US harvest and diplomatic talks to end Russia's war with Ukraine dented prices.

A jump in oil prices, supported by renewed concerns about escalation in the Middle East conflict, helped underpin corn and soybeans, which are used in biofuel. O/R

The most-traded soybean contract on the Chicago Board of Trade (CBOT) was up 0.18% at $12.47-1/2 a bushel as of 1214 GMT.

CBOT corn gained 0.32% to $4.64-3/4 a bushel, while CBOT wheat inched down 0.08% to $6.27-3/4 a bushel.

Corn started recovering before Wednesday's close, "suggesting some end-user buying is finally starting to appear after its recent (price) break," CM Navigator analysts said.

A dry weather forecast across the Midwest this week is expected to help US farmers accelerate harvesting of what the government projects to be bumper corn and soybean crops.

Harvest pressure has countered support from renewed Chinese demand for US soybeans.

The wheat market fell earlier this week as meetings held by US envoy Steve Witkoff with Ukrainian President Volodymyr Zelenskiy and then Russian President Vladimir Putin raised expectations of possible de-escalation in the countries' war, which has disrupted Black Sea grain trade in recent months.

However, attacks continued on Thursday, with Russia pounding Kyiv with ballistic missiles and Ukraine sending hundreds of drones towards Moscow overnight.

Rising Russian exports through the Baltic Sea and the start of Southern Hemisphere harvesting were maintaining supply pressure on the wheat market.

In Argentina, the wheat harvest for the 2026/27 season is expected to total 23.8 million metric tons, up from the 21 million estimated last month, the Rosario Stock Exchange said on Wednesday.