GRAINS-Soybeans firm after deep losses; lack of Chinese demand curbs upside

By Naveen Thukral

SINGAPORE, Sept 25 (Reuters) - Chicago soybeans edged higher on Thursday as bargain-buying supported prices even as the market remained near a six-week low amid a lack of Chinese demand for U.S. cargoes.

Corn rose on reports of smaller-than-expected U.S. yields, while wheat ticked higher.

"U.S. soybean exporters are continuing to miss Chinese export business," said one agricultural broker in Australia. "This will keep prices under pressure, but the downside is limited from current levels."

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 fell 0.1% to $10.08 a bushel by 0007 GMT, trading close to a six-week low hit on Tuesday.

Corn Cv1 gave up 0.1% to $4.23-3/4 a bushel and wheat Wv1 fell 0.1% to $5.19 a bushel.

Chinese importers kept up a hectic pace of Argentine soybean purchases, booking about 20 cargoes, or roughly 1.3 million tons, chipping away at the U.S. market share.

Argentina's export tax waiver has reinforced China's shift towards South American soybeans as it remains locked in a trade dispute with Washington.

However, Argentina has re-applied temporarily suspended export taxes after reaching a sales cap of $7 billion, Argentina's ARCA fiscal agency said on Wednesday.

Soybean and corn futures face seasonal supply pressure from the onset of the U.S. harvest, though doubts over yields have helped underpin both markets.