* Wheat gains as new tenders issued

* Corn drifts after Friday's rise

* Soybeans supported by China sales hopes

HAMBURG, Nov 29 (Reuters) - Chicago wheat futures rose on Monday, bouncing back from Friday's losses, supported by tightening global supplies and strong demand.

Soybeans firmed on hopes of more U.S. sales to China, while corn dipped.

The Chicago Board of Trade's most-active wheat contract rose 0.7% to $8.46-1/2 a bushel at 1242 GMT.

Wheat slumped on Friday as the new coronavirus variant, Omicron, weakened global markets.

Equities and crude oil firmed on Monday, as investors awaited more details to assess the severity of Omicron on the world economy.

Soybeans rose 0.3% to $12.57-1/2 a bushel. Corn fell 0.2% $5.84-3/4 a bushel.

Bad weather has cut wheat supplies from some key exporters, including Australia. Demand remains strong with new purchase tenders from Egypt, Jordan and Bangladesh.

"Wheat is being supported by import demand in the face of tighter world supplies, especially with possible rain damage to Australia's crop quality," said Matt Ammermann, StoneX commodity risk manager. "Wheat fell on Friday and Egypt immediately issued a new tender, it looks as though some importing countries still have an import requirement."

There are hopes the United States could receive more wheat demand in 2022 provided that CBOT prices do not rise too high and price the country out of the export market, Ammermann said.

Corn is pausing, looking for direction after its rise on Friday when other markets were falling, he added.

Soybeans are rebounding toward their 200-day moving average amid market talk China could be buying U.S. supplies for December/January shipment, Ammermann said. He added that these sales are likely to have a limited impact as Brazilian soybeans start arriving in China in February.

Markets are also watching for possible changes to the U.S. biofuel blending mandate rules from the U.S. Environmental Protection Agency, which may increase demand for soyoil. (Reporting by Michael Hogan in Hamburg, additional reporting by Naveen Thukral in Singapore; Editing by Ramakrishnan M.)