SYDNEY, Jan 22 (Reuters) - U.S. soybean prices extended gains into a sixth session on Monday to hit a five-week high, buoyed by strong demand for U.S. supplies and by fears over dry weather in key producer Argentina.
* The most active soybean futures on the Chicago Board of Trade were up 0.5 percent at $9.82-1/2 a bushel by 0143 GMT, after earlier touching their highest since Dec. 12 at $9.84 a bushel. Soybean prices closed up 0.4 percent on Friday.
* The most active corn futures were up 0.4 percent at $3.54 a bushel, having gained 0.3 percent in the previous session.
* The most active wheat futures were up 0.8 percent at $4.26-3/4 a bushel, after closing Friday down 0.6 percent.
* Soybean prices were supported as concerns over persistent dryness in Argentina stoked fears about harvest prospects in the world's third-largest producer of the commodity.
* The Buenos Aires Grain Exchange last week said it could reduce its 2017/18 soybean planting area estimate further after sowing delays caused by dry weather in northwestern Argentina.
* The U.S. Department of Agriculture on Friday said weekly export sales of soybeans totalled 1.528 million tonnes, topping market forecasts that ranged from 800,000 to 1.4 million tonnes.
* Brazil's 2017/18 soybean crop harvest is lagging last year's pace and the long-term average for this time of the year, which will result in a sharp reduction in the amount of soy that will be available in the market by the end of January.
Weekly corn export sales of 1.891 million tonnes were well above analyst estimates, while export sales of wheat were just 190,500 tonnes, below a range of market forecasts.
* The dollar sagged against its peers on Monday as a U.S. government shutdown dented sentiment, although losses were limited for now as investors took a wait-and-see stance on developments in Washington.
* Oil prices climbed on Monday, pushed up by a drop in U.S. drilling activity and by fighting in Syria between Turkish forces and Kurdish fighters.
DATA AHEAD (GMT)
1330 U.S. National activity index Dec
Grains prices at 0142 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 426.00 3.25 +0.77% +0.18% 424.42 54 CBOT corn 354.00 1.50 +0.43% +0.71% 350.34 66 CBOT soy 982.50 5.25 +0.54% +0.98% 972.09 72 CBOT rice 12.11 -$0.10 -0.82% -0.33% $12.03 64 WTI crude 63.47 $0.10 +0.16% -0.75% $60.33 64
Euro/dlr $1.223 $0.001 +0.07% -0.07% USD/AUD 0.7983 -0.001 -0.09% -0.19%
Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential
(Reporting by Colin Packham; Editing by Joseph Radford)