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GRAINS-Wheat firms on bargain-buying, ample supplies cap gains

* Chicago wheat ticks up after closing marginally lower

* Corn little changed after two sessions of decline

* Harvest of bumper U.S. corn crop to keep lid on prices

(Adds details, quotes) SINGAPORE, Sept 20 (Reuters) - Chicago wheat futures edged higher on Wednesday with prices supported by bargain-buying and expectations of lower production in Canada although abundant world supplies limited gains. Corn was little changed after falling almost 2 percent in the past two sessions as harvest of a large U.S. crop will boost supplies. The most-active wheat contract on the Chicago Board of Trade (CBOT) rose 0.3 percent to $4.44-1/2 a bushel by 0248 GMT, corn was unchanged at $3.48-1/4 a bushel and soybeans were up 0.3 percent to $9.68 a bushel. "Both Chicago and Kansas saw steepish falls during the day but sizeable buying emerged to turn the market around," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia, referring to price action on Tuesday. "The market's continued resilience is bolstering the impression that seasonal price lows are in the rear view mirror." There was supportive news for the wheat market with estimates of lower output in Canada. Wheat production in Canada fell by 14.5 percent in 2017 compared to 2016, according to a Statistics Canada survey based in part on satellite and agroclimate data. The decline in Canada's wheat output comes after lower production in Australia and excessive wet weather reducing the crop in Argentina. Still, plentiful supplies from the Black Sea region continue to offer stiff competition to U.S. exporters. The state grain buyer in Egypt, the world's biggest importer, purchased 175,000 tonnes of Russian wheat in a tender. No U.S. wheat was offered. The U.S. corn crop was 7 percent harvested by Sunday, the U.S. Department of Agriculture (USDA) said in a weekly report.

The USDA said 34 percent of the corn crop was mature, well behind the five-year average of 47 percent. But forecasts showed no major weather problems that could threaten late-maturing fields. Commodity funds were net sellers of CBOT corn, soybean, soymeal and wheat futures contracts on Tuesday and net buyers of soyoil, traders said.

Grains prices at 0248 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 444.50 1.50 +0.34% +0.23% 443.48 68 CBOT corn 348.25 0.00 +0.00% -0.92% 358.97 55 CBOT soy 968.00 2.50 +0.26% +0.03% 950.45 67 CBOT rice 12.80 $0.01 +0.12% -0.70% $12.69 62 WTI crude 49.78 $0.30 +0.61% -0.26% $48.19 63

Currencies

Euro/dlr $1.201 $0.002 +0.13% +0.47% USD/AUD 0.8012 0.000 +0.04% +0.65%

Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential

(Reporting by Naveen Thukral; Editing by Christian Schmollinger)