GRAINS-Wheat around six-week highs as cold weather threatens U.S., Black Sea crops

BEIJING/HAMBURG, Jan 26 (Reuters) - Chicago wheat rose to its highest price in more than six weeks on Monday and corn gained as extreme cold weather in the United States and Black Sea raised fears about crop damage.

Chicago Board of Trade most-active wheat Wv1 was up 0.3% to $5.31-1/4 a bushel at 1133 GMT, having hit its highest since December 12.

Corn Cv1 fell 0.2% to $4.29-1/2 a bushel on selling pressure around the $4.30 resistance level after Friday's strong gains, while soybeans Sv1 rose 0.4% to $10.72-1/2 a bushel on continued hopes of Chinese sales.

“It is all about the cold in the United States, Russia and Ukraine today and whether there will be cold damage to crops and Black Sea logistics problems,” a German trader said.

A weaker dollar was also supportive.

Cold U.S. weather raised concerns of wheat damage. A U.S. winter storm spread a mix of heavy snow, sleet and freezing rain on Sunday, compounded by bitter, Arctic cold gripping much of the nation east of the Rockies.

“Freezing temperatures, snow and ice hit much of the U.S. over the weekend, putting some winter wheat at risk,” CM Navigator said in a note. “It will take time to assess the real damage.”

Severe cold in Russia, the world's biggest wheat exporter, and Ukraine added to concerns.

Last week's talks between U.S. and Chinese officials raised hopes that China could buy more U.S. beans. China increased U.S. soybean purchases after the trade truce, but has now fulfilled commitments to buy 12 million metric tons.

"Recent firmness in Chicago corn futures means Brazilian and Ukrainian corn is now cheaper for Chinese buyers in C&F terms (including cost and freight ocean shipping)," a European trader said. "There are expectations of more selling pressure on South American corn in the Chinese market in coming weeks."