GRAINS-Corn extends rally to six-week peak

PARIS/CANBERRA, April 11 (Reuters) - Chicago corn futures rose further on Friday to hit another six-week high as a sliding dollar, easing concerns about tariffs and government supply-and-demand revisions boosted export sentiment.

Wheat rebounded from a day-earlier fall, with the falling dollar encouraging the market to shake off an increased U.S. Department of Agriculture forecast of U.S. wheat stocks.

Soybeans were little changed, taking their cue from a consolidating crude oil market and unswayed by the latest hike in China's retaliatory tariffs against U.S. goods.

The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 was up 0.36% at $4.84-3/4 a bushel at 1141 GMT. It earlier reached $4.86, its highest since February 27 and above a previous six-week peak from Thursday.

CBOT soybeans Sv1 inched up 0.02% to $10.29-1/4 a bushel while CBOT wheat Wv1 rose 1.63% to $5.46-3/4 a bushel.

The USDA on Thursday tightened its outlook for U.S. corn stocks on the back of increased exports, adding more impetus to a corn market that has shaken off wider investor fears about economic fallout from U.S. President Donald Trump's tariff offensive.

"This (price strength) is mainly due to the fact that Mexico, the most important buyer of U.S. corn, is exempt from the latest tariffs," Commerzbank analysts said.

"In addition, the U.S. corn supply continues to tighten."

U.S. corn has also avoided an immediate tariff from the European Union, where Spain is a large buyer, after the bloc decided to postpone for 90 days counter-measures due to take effect from April 15.

U.S. corn is also much less reliant on China for exports than U.S. soybeans, though Chicago soy futures have recovered from a 2025 low at the start of the week.

Traders have played down successive increases in Chinese tariffs against U.S. goods, including a latest hike to 125% on Friday, seeing scope for negotiations during what is a seasonally quiet period for U.S. soybean exports to China.

"I think those (tariff) numbers don't matter anymore, negotiations are coming soon," a European trader said, citing comments by Trump on Thursday that a deal could be reached with China.

The soybean market found support in a slight reduction to the USDA's forecast of U.S. stocks.

Fresh losses for the dollar index =USD, which hit a three-year low on Friday, also underpinned U.S. grains, making them more attractive to overseas buyers.