* Chicago corn, soybean futures down more than 11% this week
* Expectations of crop-friendly weather in parts of U.S.
SINGAPORE, June 18 (Reuters) - Chicago corn and soybean
futures rose on Friday, but both the markets were set for deep
weekly losses as forecasts of cool and wet weather in parts of
the U.S. Midwest pressured prices.
Wheat was poised for a second week of declines, weighed down
by an advancing U.S. harvest.
"U.S. weather is looking good and there is demand
destruction at these high prices, which is going to limit the
upside potential," said one Singapore-based grains trader.
The Chicago Board of Trade December corn added 0.9%
to $5.37 a bushel as of 0435 GMT, while November soybeans
were up 1.8% at $12.75-3/4 a bushel.
For the week, both soybeans and corn were down more than
Traders expect showers to bring relief to dry areas of the
crop growing areas in the U.S. Midwest over the next two weeks,
improving production prospects.
Argentina's 2020/21 corn yields continue to come in higher
than expected as harvesting progresses, the Buenos Aires Grains
Exchange said on Thursday, a week after citing ample yields as
the reason for raising its crop forecast to 48 million tonnes.
Wheat rose 1.2% to $6.46-1/2 a bushel after losing
3.6% on Thursday. The market was down 5% for the week.
Commodity funds were net sellers of Chicago Board of Trade
corn, soybean, soyoil, wheat and soymeal futures contracts on
Thursday, traders said.
(Reporting by Naveen Thukral; additional reporting by Colin
Packham in Canberra; Editing by Aditya Soni)