* U.S. production threatened by warm, dry weather
* Corn falls for first time in four sessions
* Soybeans edge lower, despite threat to Argentina crops
SYDNEY, March 1 (Reuters) - U.S. wheat futures rose for a six consecutive session on Thursday as adverse weather threatens production across a key producing region, pushing prices towards a seven-month high. Corn edged lower after drawing support from strength in wheat, while soybeans firmed. The most active wheat futures on the Chicago Board Of Trade were up 0.5 percent to $4.97-1/4 a bushel by 0249 GMT, having closed up 3.8 percent on Wednesday when prices hit a high of $4.99-1/2 a bushel - the highest since July 21, 2017. "The south-western parts of the hard red winter region have been dry for a long time and weather forecasters suggest temperatures may soon be unseasonably warm," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia. "The crops will soon then attempt to start growing again, but fail, in dry soils." U.S. Department of Agriculture on Monday rated the wheat crop in top growing state Kansas at only 12 percent in good to excellent condition, down 2 points from a month ago.
The most active corn futures were down 0.1 percent at $3.81-3/4 a bushel, the first fall in four sessions. The most active soybean futures were up 0.1 percent to $10.56-1/2 a bushel, having closed up 0.3 percent on Tuesday. Soybeans continues to draw support from a lack of rain in Argentina that continues to threaten the soybean harvest in the third-largest producer after Brazil and the United States. Argentina is the world's largest soymeal exporter. Private exporters sold 250,000 tonnes of soybeans for delivery to unknown destinations during the 2017-18 marketing year, according to the U.S. Agriculture Department.
Grains prices at 0249 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 497.25 2.25 +0.45% +4.25% 463.28 79 CBOT corn 381.75 -0.25 -0.07% +0.71% 363.05 72 CBOT soy 1056.25 0.75 +0.07% +0.64% 1015.23 81 CBOT rice 12.53 -$0.01 -0.08% +3.04% $12.44 69 WTI crude 61.72 $0.08 +0.13% -2.05% $63.02 46
Euro/dlr $1.219 $0.000 -0.02% -0.33% USD/AUD 0.7727 -0.003 -0.44% -0.80%
Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential
(Reporting by Colin Packham; Editing by Sunil Nair)