GRAINS-Corn edges up on strong export sales, weather woes

Updates for U.S. market open, changes dateline from PARIS/BEIJING to CHICAGO, changes byline, adds bullets

By Heather Schlitz

CHICAGO, Feb 13 (Reuters) - Chicago corn futures ticked up in rangebound trade on Thursday as stout export sales, weather concerns in Argentina and strong demand added support, analysts said.

Soybean futures seesawed but remained under pressure from dismal export sales and a rapid Brazilian harvest. Wheat was also choppy but prices were underpinned by strong export sales and weather risks in key growing areas.

A subdued grain market was also awaiting more developments in U.S. President Donald Trump's initiatives to negotiate an end to the war in Ukraine and to impose tariffs on trading partners.

The most-active Chicago Board of Trade corn contract Cv1 gained 3-1/2 cents to $4.93-1/2 per bushel as of 11:33 a.m. CST (1733 GMT). Most-active soybeans Sv1 were up 3-1/4 cents at $10.31 per bushel.

Though U.S. corn has seen heavy international buying interest this week, farmer selling has kept a ceiling on prices, analysts said.

Meanwhile, yield losses from hot, dry conditions in recent months across Argentina's corn and soy belts have added a boost to prices, though improved rainfall during February has helped slash the dryness.

"There's quite a bit of concern about the Argentina crop," Brian Basting, analyst at Advance Trading, said. "This is a critical time."

Farmers in neighboring Brazil are rapidly harvesting what is expected to be a record crop, adding pressure to soy prices as buyers shift purchases of soy to South America.

CBOT wheat Wv1 was up 3-1/2 cents to $5.77-3/4 per bushel.

Traders are also monitoring cold fronts in the U.S. Plains and Black Sea region for potential freeze damage to winter wheat crops, though forecasts for snow are expected to insulate much of the dormant crop from blistering weather.

Trump on Wednesday ordered U.S. officials to begin talks on ending the war in Ukraine after a phone call with Russian President Vladimir Putin.

Russia and Ukraine are major grain exporters and, while large Black Sea trade has continued during the conflict, a ceasefire may reduce export costs.