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GRAINS-Soybeans snap winning streak, still hover near 5-week high

SYDNEY, Jan 23 (Reuters) - U.S. soybean futures edged lower on Tuesday, snapping a six-session rally, though prices continued to hover around a five-week high amid fears that adverse weather in Argentina will crimp production.

FUNDAMENTALS

* The most active soybean futures on the Chicago Board Of Trade were down 0.1 percent at $9.83-1/2 a bushel, as of 0152 GMT. In the previous session, futures edged up 0.7 percent, when prices hit $9.87-1/4 a bushel, their highest since Dec. 11.

* The most active corn futures skid 0.3 percent to $3.51 a bushel, having closed down 0.1 percent on Monday.

* The most active wheat futures slipped 0.4 percent to $4.24 a bushel, having closed up 0.7 percent on Monday.

* Weeks of dry weather and extended forecasts for only light precipitation in Argentina, the top global exporter of soymeal and soyoil, continued to propel the prices.

* A weather consultant for the Buenos Aires Grains Exchange said the pattern is likely to result in yield losses.

MARKET NEWS

* The dollar pared some of its losses after U.S. senators struck a deal to lift a three-day government shutdown but it was mired near a three-year low against a basket of currencies on lingering concerns about its yield advantage being chipped away.

* Oil prices rose on Tuesday, lifted by healthy economic growth as well as the ongoing supply restraint by a group of exporters around OPEC and Russia.

* U.S. stocks advanced on Monday as each of Wall Street's main scored records in the wake of a deal by U.S. senators to end the federal government shutdown.

DATA AHEAD (GMT)

1000 Germany ZEW economic sentiment Jan 1500 U.S. Richmond Fed composite index Jan 1500 Euro zone Consumer confidence flash Jan

Grains prices at 0135 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 424.50 -1.25 -0.29% +0.41% 424.51 51 CBOT corn 351.75 -0.25 -0.07% -0.21% 350.28 55 CBOT soy 983.50 -0.75 -0.08% +0.64% 971.47 71 CBOT rice 12.25 $0.07 +0.53% +0.33% $12.03 73 WTI crude 63.87 $0.30 +0.47% +0.79% $60.57 68

Currencies

Euro/dlr $1.227 $0.001 +0.08% +0.41% USD/AUD 0.8025 0.001 +0.10% +0.44%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Colin Packham; Editing by Sherry Jacob-Phillips)