GRAINS-Corn rises after deep losses, record supplies to cap gains

SINGAPORE, Aug 13 (Reuters) - Chicago corn futures inched higher on Wednesday, with bargain buying lifting prices following the market's more than 3% drop in the last session after a U.S. report forecast record output.

Soybeans slid for the first time in three sessions, while wheat fell for a second day in a row.

FUNDAMENTALS

* The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 rose 0.1% to $3.95 a bushel as of 0019 GMT after losing 3.2% on Tuesday.

* Soybeans Sv1 fell 0.1% to $10.31-1/2 a bushel after closing higher in the last session. Wheat Wv1 shed 0.4% to $5.03-1/4 a bushel.

* U.S. farmers will produce record-breaking corn and soybean yields this autumn and harvest the nation's biggest corn crop in history, the U.S. Department of Agriculture (USDA) said on Tuesday.

* The agency projected corn yields will average 188.8 bushels per acre, up from its earlier forecast of 181 bushels per acre, and that farmers will harvest 16.742 billion bushels, higher than its previous estimate of 15.705 billion bushels.

* For soybeans, the USDA pegged yields at a record 53.6 bushels per acre, compared to its July estimate of 52.5 bushels. It still lowered its production estimate to 4.292 billion bushels from 4.335 billion in July.

* China on Tuesday announced preliminary 75.8% anti-dumping duties on Canadian canola imports from Thursday, closing its doors to supplies of the oilseed from the North American country.

* Commodity funds were net sellers of CBOT corn and wheat futures contracts on Tuesday and net buyers of soybeans, soymeal and soyoil, traders said. COMFUND/CBT

MARKET NEWS

* World shares hit record highs on Tuesday after U.S. consumer prices data fuelled expectations of an impending Federal Reserve interest rate cut in September, and a trade war truce between Washington and Beijing also buoyed sentiment. MKTS/GLOB

DATA/EVENTS (GMT)

0600 Germany HICP Final YY July