Chicago corn futures slipped for a seventh consecutive session on Thursday as record U.S. ethanol stocks added to concerns about faltering demand and swelling grain supplies.

A weaker dollar and short-covering after recent lows limited losses in corn, however, and helped wheat and soybean futures edge higher.

The Chicago Board Of Trade most-active corn contract fell 0.2 percent to $3.59-1/2 a bushel by 1215 GMT. It was trading just above this week's low of $3.59-1/4, which was the contract's lowest since Jan. 15.

Soybeans gained 0.1 percent to $8.63-1/2 a bushel and wheat added 0.4 percent to $4.63 a bushel.

CBOT ethanol futures fell 1.4 percent on Wednesday after the U.S. Energy Information Administration (EIA) showed record stockpiles of the gasoline additive.

The EIA said ethanol stockpiles rose by 594,000 barrels to 22.96 million barrels in the week ended Feb. 5. That tops the previous record supply of 22.713 million barrels in March 2012.

"Concerns are rising over the impact that high ethanol inventories will have on the corn market," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia.

"With ethanol trading so far above gasoline, domestic demand for corn from U.S. ethanol plants will fall. That is worrying given that U.S. corn ending stocks have already been revised higher due to poor export demand," said Gorey.

The U.S. Department of Agriculture on Tuesday raised its outlook for 2015/16 corn carryover stocks by more than expected, although an increase to projected ethanol use partly offset a cut to exports.

Grain markets will get a fresh indication of export demand in weekly U.S. export sales data due at 1330 GMT.

Tuesday's monthly USDA supply-and-demand report had also dampened sentiment in wheat and soybean markets as the USDA lifting U.S. and global stock projections, with world wheat stocks put at a new record high.

But prices were now consolidating after a five-and-a-half year low for wheat this week and a one-month low for soybeans.

"In the short term, these technical levels are offering some support to the market with the return of buyers," consultancy Agritel said in a note.

Commodity funds bought an estimated net 4,000 CBOT wheat contracts on Wednesday, trade sources said. The funds also bought 2,000 soyoil contracts and were net sellers of 3,000 soymeal contracts, they said.