* Wheat off four-month low as Egypt, Algeria call import tenders

* Soybeans climb after touching lowest since October 2020

* Corn recovers as crop rating misses expectations

CHICAGO, July 16 (Reuters) - Chicago soybean and corn futures firmed on Tuesday after hitting record lows on bargain buying and forecasts for lower harvests in some parts of the world, according to analysts.

Wheat lagged behind on steadily advancing harvest data, as well as cheap Russian crop.

The U.S. Department of Agriculture's crop progress data released on Monday failed to show the improvements expected by the trade for the corn and soy crop, staying at 68% good to excellent condition, when analysts polled by Reuters had predicted the USDA would rate it at 69%.

Both crops also climbed on bargain buying, with the market oversold, said Mark Soderberg, senior agricultural market analyst at ADM Investor Services.

"We're probably overdue for this type of a bounce," Soderberg added.

Soderberg noted the Ukraine Agrarian Council's Tuesday announcement that its 2024 corn yield could be down 30-35% because of extreme heat and drought as another supportive factor.

Most active Chicago Board of Trade (CBOT) corn was up 6 cents at $4.10-1/2 a bushel and soybeans gained 4 cents at $10.44 at 12:16 p.m. CDT (1716 GMT)

USDA data released on Monday showed strong ratings for the condition of spring wheat and steady advancement in the winter wheat crop, but Egypt and Algeria both called wheat import tenders on Monday in what traders viewed as a response to lower prices.

While the renewed demand lent some support, offers in Egypt's tender on Tuesday highlighted large supplies of competitively priced Russian wheat.

"Russia just keeps trying to undercut everybody else in the global marketplace," Soderberg said.

Meanwhile the USDA's crop progress data showed 71% of winter wheat harvested, as compared to 63% last week and 77% of spring wheat in good to excellent condition.

CBOT most active September wheat added 1/4 cent at $532-3/4.

(Reporting by Renee Hickman; Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Will Dunham)