PARIS/SINGAPORE: Chicago wheat gave back some of the previous session’s sharp gains on Wednesday as participants monitored war risks to shipping and adjusted positions before year-end.

Soybeans and corn ticked down as a rally in crude oil prices paused and grain markets grappled with shifting rain forecasts for parched crop belts in key exporter Brazil.

The most-active wheat contract on the Chicago Board of Trade (CBOT) was down 1.2% at $6.28-3/4 a bushel by 1050 GMT.

The contract climbed to its highest since Dec. 8 on Tuesday before closing more than 3% higher. Chicago markets were closed on Monday for Christmas.