* Corn, soy recover from multi-week lows linked to better weather

* Participants adjust positions ahead of USDA Friday forecasts

* Russia exports, India stocks release temper wheat supply doubts

PARIS/SINGAPORE, Aug 9 (Reuters) - Chicago corn and soybeans edged higher for a second day on Wednesday as the run-up to U.S. government crop forecasts encouraged investors to adjust positions after futures hit multi-week lows due to improving Midwest weather.

Wheat slipped for a second session as worries over war disruption to Black Sea trade were tempered by a latest sale of Russian wheat to Egypt and news that India will release wheat stocks to curb rising prices.

The most-active corn contract on the Chicago Board of Trade (CBOT) was up 0.3% at $5.00 a bushel by 1223 GMT while soybeans added 0.6% to $13.13-3/4 a bushel.

Corn hit a three-week low and soybeans a one-month trough earlier this week.

Attention is turning to the U.S. Department of Agriculture's monthly supply and demand outlook on Friday for an update on U.S. harvest prospects.

Analysts polled by Reuters on average expect the USDA to trim its forecasts for this year's U.S. corn and soybean production.

After drought and hot weather strained crops earlier in summer, showers and cooler temperatures since July have eased crop concerns.

"The approach of the USDA's monthly report this Friday is already prompting some position adjustments following the downturn seen in recent days," consultancy Agritel said.

Corn and soybeans also drew some support from wider financial markets, with the dollar easing back and crude oil gaining ground.

CBOT wheat fell 1.3% to $6.48 a bushel.

Egypt's state grains buyer, the General Authority for Supply Commodities, said on Tuesday it bought 235,000 metric tons of Russian wheat in an international tender.

That eased fears of Black Sea trade being choked by war escalation after Russia attacked ports in Ukraine and Kyiv targeted Russian vessels.

India, meanwhile, said on Wednesday it would release up to 5 million metric tons of wheat from stocks to counter surging prices.

However, traders are watching to see if India may also import wheat, after announcing last week it was considering reducing import tariffs.

(Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Kirsten Donovan)