* Bargain buying has corn bouncing off multi-month lows

* Wheat sees technical bounce after dipping to near two-year low

* Lack of export demand continues to weigh on old-crop beans

(New throughout, changes bullet headlines, new headline, updates prices, adds quotes, changes byline, changes dateline, previous PARIS/SINGAPORE)

CHICAGO, May 19 (Reuters) - Chicago corn futures rose on Friday amid a spate of bargain buying, pulling prices up in a technical rebound from sharp lows a day earlier, traders said.

Wheat also regained ground after trading near a two-year low on Thursday when the renewal of a Black Sea export corridor from Ukraine added to supply pressure and took attention away from poor harvest prospects in the U.S. Plains.

Wheat yield potential in Kansas was estimated on Thursday at its lowest since at least 2000 in an annual field tour.

Meanwhile, soybean futures slipped as poor U.S. export demand for old crop and ongoing expectations of large global supplies continue to weigh on the market, traders said.

"We've seen some of the weak short positions get flushed out of the market, but no one is stepping in to buy on the rallies," said Karl Setzer, brokerage research lead with Mid-Co Commodities. "Right now, the managed money is interested in gold and the dollar, and just not that interested in commodities."

The most-active corn contract on the Chicago Board of Trade (CBOT) was up 9-1/2 cents at $5.64-3/4 a bushel by 1606 GMT, having dropped to its lowest since October 2021 on Thursday.

Soybeans were down 5-1/4 cents at $13.28 a bushel after touching a 10-month low in the previous session.

CBOT wheat was up 1-1/2 cents to $6.13-1/4 a bushel, after approaching on Thursday a two-year low set on May 3.

U.S. farmers have made good progress in planting corn and soybeans, but traders are monitoring dryness in part of the Midwest.

The International Grains Council on Thursday raised its forecast for 2023/24 global corn crop, largely reflecting improved outlooks in Brazil and China.

The U.S. Department of Agriculture (USDA) on Thursday reported net sales reductions of U.S. old-crop corn totalled nearly 339,000 tonnes in the week to May 11, largely due to cancellations from Chinese buyers. (Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Subhranshu Sahu, Savio D'Souza and Jonathan Oatis)