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GRAINS-Wheat eases as high supply keeps lid on market

* Wheat stays near contract lows as Wednesday bounce fades

* Corn rebound also peters out on high supply

* Argentine weather risks, demand underpin corn, soybeans

(Updates with European trading, changes byline/dateline) PARIS/SINGAPORE, Nov 30 (Reuters) - Chicago wheat edged lower on Thursday after a rebound from contract lows petered out, with a forecast for another big harvest in Russia next year keeping attention on high supply. Corn ticked lower, halting Wednesday's demand-fueled bounce, as the feed grain market also remained curbed by ample global supplies. Soybeans inched down, with a weather outlook calling for some rain relief in dry parts of Argentina weighing on prices. The Chicago Board of Trade most active wheat contract was down 0.6 percent at $4.32-1/4 a bushel by 1140 GMT. It had added 1.4 percent on Wednesday to move away from Tuesday's contract low of $4.24-1/4. CBOT corn fell 0.3 percent to $3.52-1/2 a bushel, and soybeans edged down 0.1 percent to $9.91-1/4 a bushel. "Supplies are in abundance when you look at wheat, corn and soybeans," said one Singapore-based grains trader. "The next year is also looking good as far as production is concerned." In the first major estimate for the coming year, consultancy SovEcon put Russia's 2018 wheat crop at 76.7 million tonnes, which would be the country's second-largest after a record 83.9 million tonnes this year. "Thus the high supply from Russia is likely to continue pressuring world (wheat) market prices," Commerzbank said in a note. Russia's huge 2017 harvest has intensified export competition and tightened its grip on major wheat import markets such as Egypt. Recent price lows have stirred additional export demand, however, including for U.S. wheat in a tender by Iraq. Talk of Chinese demand for U.S. corn helped support Tuesday's price recovery. China has bought around 10 to 12 cargoes of mainly U.S. corn in the past month, trade sources said, and is set to step up purchases amid a record spread between domestic and international prices. The U.S. Department of Agriculture confirmed on Wednesday that private exporters sold 101,600 tonnes of U.S. corn to unknown destinations for delivery in the 2017-18 marketing year started Sept. 1. Grain markets will get a further indication of export demand in weekly U.S. export sales data due at 1330 GMT. Corn and soybeans have drawn some support from dry conditions in Argentina, but forecasts calling for some showers have tempered concerns. Ample supply was also acting as a brake on the soybean market. Brazilian analysts are likely to raise their soybean output forecasts in the coming weeks as climate fears have subsided and the crop is developing well, four consultancies told Reuters this week.

Prices at 1140 GMT

Last Change Pct End Ytd Pct Move 2016 Move CBOT wheat 432.25 -2.50 -0.58 408.00 5.94 CBOT corn 352.50 -1.00 -0.28 352.00 0.14 CBOT soy 991.25 -1.25 -0.13 1004.00 -1.27 Paris wheat Dec 158.50 -0.50 -0.31 175.00 -9.43 Paris maize Jan 154.00 -0.50 -0.32 171.00 -9.94 Paris rape Nov 372.25 3.25 0.88 393.00 -5.28 WTI crude oil 57.83 0.53 0.92 53.72 7.65 Euro/dlr 1.18 0.00 -0.10

Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne

(Reporting by Naveen Thukral in Singapore and Gus Trompiz in Paris; Editing by Sherry Jacob-Phillips and David Evans)