Wheat prices fell more than 1 percent on Friday to post its biggest loss in a week in reaction to month-end fund positioning, profit taking, and bearish news that Russia said it will not limit grain exports. Corn and soyabeans also declined on profit-taking after corn soared to a drought-induced record high early in the month and soyabeans set a record high on Thursday.
Wheat was on track to post a gain of 1.5 percent for the week but was down nearly 1 percent for the month. At 12:15 pm CDT (1715 GMT), CBOT September wheat was down 15-1/4 cents per bushel at $8.67, December corn was down 9-1/2 cents at $7.99, and November soyabeans were down 9 cents at $17.54-1/2.