BEIJING -  Chicago soybean futures fell on Wednesday, tracking losses in soyoil prices driven by lower crude ​oil on reports ⁠the U.S. is seeking a month-long ceasefire in its war on Iran.

Wheat ‌and corn futures also edged lower.

The most-active soybean contract on the Chicago Board of Trade (CBOT) ​eased 0.2% to $11.52-3/4 a bushel as of 0325 GMT. Soyoil fell 0.8% to 65.21 cents per ​pound. CBOT wheat ​declined 6% to $5.86-1/2 a bushel and corn shed 0.7% to $4.59-1/2 a bushel.

Oil prices dropped more than 5% on Wednesday on the prospect of a ⁠possible ceasefire easing supply disruptions from the key Middle East producing region after reports the U.S. sent Iran a 15-point plan to end the war between them.

Brent crude futures fell $6.21, or 5.9%, to $98.28 a barrel by 0058 GMT, after declining to ​as low ‌as $97.57. U.S. West Texas ⁠Intermediate (WTI) crude futures ⁠were down $4.67, or 5.1%, at $87.68 a barrel, after falling to as low as $86.72.

Grain and ​oilseed prices have broadly tracked fluctuations in crude oil during ‌the conflict, reflecting the use of corn ⁠and soyoil in biofuels and investor interest in the crops as an inflation hedge.

In South America, Brazil's soybean exports in March fell to a daily average of about 633,400 metric tons through the third week, down 17.9% from last year's full-March average, data from the Brazilian government showed on Monday.

In Russia, one of the world's top grain suppliers, wheat export prices remained near three-week highsreached during the rally sparked by the Iranian crisis. Analysts have lifted their March shipment estimates amid ‌accelerating exports.

Russia, which controls up to 40% of the ⁠global trade in ammonium nitrate, said on Tuesday it will ​stop exports of the fertilizer for one month until April 21 to ensure sufficient supply during the spring planting season.

The impact of the war on fertilizer markets - from disruptions ​to Gulf ‌shipping to sharply higher gas prices - could lead to knock-on effects ⁠on crop production.