GRAINS-Corn futures turn higher, wheat hits months-low on choppy trading day

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Uncertainty over Ukraine corn crop continues

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Argentina revives 'soy dollar' FX rate

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CBOT wheat falls on competition from Russian wheat prices

By P.J. Huffstutter

CHICAGO, Nov 25 (Reuters) - Chicago Board of Trade cornfutures ended higher on Friday as the market continues toclosely watch the weather in South America, on what turned intoa relatively choppy and short trading day, analysts said.

Meanwhile, wheat futures fell sharply - with the Decembercontract hitting its lowest since Aug. 22 - as recentweakness in Russian wheat prices continued to weigh on themarket, traders said.

Soybeans ended the day nearly unchanged after Argentinaannounced it would reestablish a preferential currency exchangefor soybean exports until the end of the year, in a bid to revup exports of its top cash crop and bring in much-neededdollars.

And questions of export demand for U.S. grain and oilseedsalso weighed on the market, traders said.

The most-active wheat contract on the Chicago Board of Trade(CBOT) settled the day down 16-1/2 cents at $7.97 abushel.

CBOT most-active soybeans gained 1/4-cent to$14.36-1/4 a bushel, and corn settled up 5 cents at$6.71-1/4 a bushel.

The Chicago traded grain and oilseed markets closed at 12:05p.m. Central time on Friday (1805 GMT). CBOT grain markets wereclosed overnight and on Thursday for the Thanksgiving holiday.

Corn futures strengthened, as the market continued to tracknot only dry weather forecasts that may cause more stress onArgentinian crops, but also questions of whether Ukraine'sharvest might face challenges next year, traders said.

"Roughly half the corn remains in the field as wintersets in," Arlan Suderman, chief commodities economist forbrokerage StoneX wrote in a commentary note. "Authorities fearthat corn not harvested will result in lower plantings in 2023as well."(Reporting By P.J. Huffstutter in Chicago.Editing by Marguerita Choy)

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