SINGAPORE/PARIS - Chicago wheat futures rose on Thursday, supported by the escalating conflict between major grain suppliers Russia and Ukraine, a weak dollar, as well as dry weather threatening yields in top consumer China. Corn prices firmed, but soybeans edged lower. "Ukraine has hit Russia and there are fears of escalation which is supporting wheat prices," said one trader in Singapore.

A weak dollar against major currencies was also supporting prices although it was not enough to keep soybean prices in green territory. The most-active wheat contract on the Chicago Board of Trade (CBOT) rose 0.5% to $5.46 a bushel, as of 1040 GMT. Corn added 0.7% to $4.41-3/4 a bushel, while soybeans gave up 0.2% to $10.42-1/2 a bushel.

Parts of China's wheat belt in Shaanxi and Henan provinces have been hit hard by hot and dry weather, with near-record temperatures threatening to reduce yields. Ukraine has stepped up attacks on Russian targets, prompting Russian President Vladimir Putin to tell the U.S. President Donald Trump in a telephone conversation that Moscow would have to respond, escalating worries over grain supplies.

Ukrainian corn exports are set to fall to 1 million metric tons in June from 2 million tons in May, as Ukraine-origin corn is uncompetitive compared to its American equivalent, producers' union UAC said on Wednesday. Corn and soybean prices are being capped by favourable weather in the U.S. Midwest, where farmers are wrapping up their planting.

Commodity funds were net buyers of CBOT corn, wheat, soybean and soymeal futures contracts on Wednesday and small net sellers of soyoil futures. Prices at 1040 GMT Last Change Pct Move CBOT wheat 546.00 2.75 0.51 CBOT corn 441.75 3.00 0.68 CBOT soy 1042.50 -2.50 -0.24 Paris wheat 202.50 -0.50 -0.25 Paris maize 182.00 0.00 0.00 Paris rapeseed 479.50 1.00 0.21 Euro/dlr 1.14 0.00 0.10 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne