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GRAINS-US wheat up for 2nd day on short-covering, soybean prices ease

* Chicago wheat prices rise ahead of U.S., Europe planting

* Strong demand from China supports soybean prices, corn firm

(Adds comment, detail) SINGAPORE, Sept 21 (Reuters) - Chicago wheat futures rose for a second session on Thursday, with prices underpinned by short-covering and positioning ahead of winter crop planting in the United States and Europe. Soybeans ticked lower after climbing on Wednesday when the oilseed drew support from a report of strong export figures by the U.S. Department of Agriculture. The Chicago Board of Trade most-active wheat contract had gained 0.2 percent to $4.50-1/2 a bushel by 0316 GMT, having closed up 1.5 percent on Wednesday. Soybeans were down 0.1 percent at $9.69-1/2 a bushel, while corn added 0.1 to $3.50-1/2 a bushel, with both markets having gained half a percent on Wednesday. "The supply-side news has been factored into the wheat market, right now people are watching planting intentions in the U.S. and Europe," said one India-based commodities analyst. "Prices are low enough for farmers to further reduce planting." Farmers in the northern hemisphere will start planting wheat which will be harvested next year. In the United States, the wheat crop harvested area dropped 17.762 million hectares in 2016/17 from 19.149 million hectares a year ago, according to USDA data. In 2017/18, it is likely to drop further to 15.425 million hectares. Commodity funds were net buyers of CBOT corn, wheat and soybean futures contracts on Wednesday. The USDA said private exporters sold 1.2 million tonnes of U.S. soybeans, including 1.08 million tonnes to unknown destinations. The USDA said the soybean sale was among the 10 largest ever announced through its daily reporting system, which dates to 1977. Analysts suspected that at least a portion of the sales to unknown destinations was earmarked for China, which is by far the world's largest soy importer.

Grains prices at 0316 GMT

Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 450.50 0.75 +0.17% +1.69% 442.47 71 CBOT corn 350.50 0.50 +0.14% +0.65% 357.83 55 CBOT soy 969.50 -0.50 -0.05% +0.41% 950.39 65 CBOT rice 12.73 -$0.07 -0.59% -0.39% $12.69 55 WTI crude 50.71 $0.02 +0.04% +2.49% $48.25 70

Currencies

Euro/dlr $1.188 -$0.001 -0.08% -0.92% USD/AUD 0.8000 -0.003 -0.39% -0.11%

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

(Reporting by Naveen Thukral; Editing by Joseph Radford)