* Attack on Russian ship raises Black Sea war concerns
* Welcome rain in U.S. Midwest weakens soybeans
HAMBURG, Aug 7 (Reuters) - Chicago wheat rose around 2% on Monday as global supply concerns intensified, spurred by fears of an escalation of attacks on Black Sea shipping after a Ukrainian strike on a Russian tanker.
Chicago Board of Trade most-active wheat was up 1.9% to $6.45 a bushel at 1105 GMT.
Soybeans fell 1.8% to $13.09-1/2 a bushel, and corn fell 0.1% to $4.96-3/4 a bushel.
“Wheat is being supported by increased risks from the Black Sea war with the Ukrainian attack on a Russian merchant ship over the weekend following the attack on Novorossiysk on Friday,” said Matt Ammermann, StoneX commodity risk manager.
“Concern is that the conflict could be moving to a new level, as attacks on Russian merchant ships could cut its grain exports, forcing demand to be met by other regions, especially the EU.”
“But the wheat price rises today are relatively moderate considering the enormous implications of strikes on Russian ships.”
Russia said it would punish Ukraine for using a sea drone to attack a civilian tanker in what it said was a "terrorist act" that risked "a large-scale environmental disaster".
Wheat had risen on Friday after Ukrainian attacks on Russia's Black Sea navy base at Novorossiysk, also a major port for Russian grain exports.
Expectations of import demand from India also underpinned wheat.
“Soybeans are falling after weekend rain in parts of the U.S. Midwest and lower temperatures," Ammermann said. "This along with some forecasts of more rain and temperatures not expected to return to previous high levels, is sharply easing fears of weather damage to U.S. crops.”
Corn is torn between the rise in wheat and fall in soybeans, with some in the market perhaps waiting to see the first results of the U.S. harvest now only about a month away, he said. (Reporting by Michael Hogan in Hamburg and Enrico Dela Cruz in Manila; Editing by Sherry Jacob-Phillips and Mark Potter)
