reuters-US soybeans fell for the first time in three days on Friday as traders locked in profits after the oilseed hit a one-week high in the previous session, but the beans were set to finish the week in positive territory.
Corn eased and appeared headed for its first loss in seven sessions as profit-taking sentiment outweighed tight stocks, while wheat followed suit, falling for the second straight session despite several tenders.
Chicago Board of Trade May soybeans fell 0.55 percent to $14.41 by 0240 GMT a bushel after gaining 2.06 percent on Thursday.
Soybeans are up more than 1 percent, the third rise in the last five weeks as the oilseed was supported by South American production concerns.
May corn fell 0.51 percent to $7.29-1/4 a bushel, having closed up 0.07 percent in the previous session after hitting $7.34-1/2 a bushel, its highest since February 5, as increased exports from South America weighed.
Argentina approved another 2 million tonnes in 2012-13 corn exports, a leading grains industry group said on Thursday, raising the season’s full export quota to 17 million tonnes.
Corn is up 1.7 percent for the week, the second consecutive weekly rise.
May wheat futures fell 0.31 percent to $7.26-1/2 a bushel after closing down 1.0 percent in the previous session.
Wheat is up nearly 0.5 percent for the week, the second straight weekly gain.