SINGAPORE, April 26 (Reuters) - Chicago wheat futures eased on Friday but were on track for their biggest weekly gain in two years as dry weather in parts of Russia and the United States threatened to curb supplies.

Corn firmed, with the market set for its biggest weekly rise in nine months. Soybeans edged up and were on track for the first weekly rise in more than a month.

FUNDAMENTALS

* The most-active wheat contract on the Chicago Board of Trade (CBOT) fell 0.1% to $6.19-3/4 a bushel, as of 0013 GMT, corn added 0.1% to $4.52-1/4 a bushel and soybeans rose quarter of a cent to $$11.80-1/4 a bushel.

* Dry weather in some Russian and U.S. wheat producing regions kept attention focused on spring weather risks to northern hemisphere crops, encouraging investors to cover some of their large short positions in wheat.

* Forecasts showed limited rain relief in southern Russia until at least early May, though parts of the U.S. Plains could get moisture this week.

* For week, wheat is up 9.3%, the biggest rise since March 2022, corn has added 4.3%, the most since July last year and soybeans have gained 1.1%.

* The European Commission on Thursday cut its forecast for the European Union's main wheat crop in 2024/25 to a new four-low as it projected a bigger fall in area than previously expected.

* In supply and demand data, the Commission pegged usable production of common wheat, or soft wheat, at 120.2 million metric tons, down from 120.8 million in its initial outlook last month and still the lowest since 2020.

* For soybeans, dry and hot weather throughout the season in northern Argentina may lead the Buenos Aires grains exchange to reduce its estimate for the country's 2023/24 soybean crop, currently sitting at 51 million metric tons, the exchange said on Thursday.

* South African farmers are expected to harvest 18.5% less maize in the 2023/2024 season compared with the previous one, the government's Crop Estimates Committee (CEC) said on Thursday.

* Commodity funds were net buyers of CBOT wheat, corn and soyoil futures contracts on Thursday, traders said. Funds were net sellers of soybean and soymeal futures, traders said.

MARKET NEWS

* Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990.

DATA/EVENTS (GMT) 1230 US Consumption, Adjusted MM March 1230 US Core PCE Price Index MM, YY March 1230 US PCE Price Index MM, YY March 1400 US U Mich Sentiment Final April (Reporting by Naveen Thukral; Editing by Rashmi Aich)