Soyabeans pared gains early on Friday, but remained on track to post their biggest weekly increase in a month, ahead of the final crop estimates from this week's Pro Farmer tour of the Midwest. Corn futures at the Chicago Board of Trade gave up gains to head lower on profit-taking ahead of the weekend. Wheat also reversed and headed lower amid forecasts for rain in the winter wheat belt as farmers gear up for seeding this fall.
Soyabeans were still within striking distance of their all-time high of $17.77-3/4 per bushel, set by the spot contract on July 20, as the worst drought in 56 years has devastated the crop and export demand remains strong despite high prices. CBOT November soyabeans were up 0.4 percent at $17.21-1/2 per bushel at 1132 Central (1632 GMT), off the session high of $17.37-1/4. December corn was off 0.7 percent at $8.09-1/4. December wheat was down 0.7 percent at $8.88-1/2 per bushel.
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