U.S. futures dip on macro concerns, but Ukraine war caps losses

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U.S. wheat, soybean and corn futures were under pressure in early Asian trading on Thursday as traders weighed concerns over global economic health after the Federal Reserve signaled more aggressive interest rate hikes this year.

However, concerns about Black Sea supplies limited the losses, with traders worried about an escalation in the Ukraine war that has disrupted crucial grain exports from the region.

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FUNDAMENTALS

* The most-traded wheat contract on the Chicago Board of Trade (CBOT) was down 0.3% at $9.01 a bushel, as of 0100 GMT.

* CBOT corn