Corn dips from 6-1/2-year high

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    SINGAPORE- Chicago corn slid on Thursday as the market took a breather after hitting its highest in more than six years in the previous session, although losses were limited as dry growing conditions in South America stoked concerns about global supplies.

    Wheat lost ground for a second session.

    The most-active corn contract on the Chicago Board of Trade (CBOT) lost 0.3 percent to $4.93-3/4 a bushel, having gained 0.7 percent in the previous session when prices hit a May 2014 high of $5.02-3/4 a bushel.

    Soybeans futures were flat at $13.61-1/2 a bushel and wheat gave up 0.2 percent to $6.46-1/2 a bushel.

    Dry weather continues to threaten soybean and corn yield prospects in Argentina, and labor issues in the South American country have added to concerns about supplies.

    The union representing Argentine portside grain inspectors was to meet on Wednesday with agro-export companies to try to clinch a wage deal to end a strike that started on Dec. 9.