CHICAGO- Chicago soybean futures fell for a third day on Friday, pressured by harvest activity and strong planting progress in South America that may open up export competition by mid-January, analysts said.
Corn also eased from harvest pressure, while wheat stepped back after reaching a nine-year high earlier in the week.
Corn and soybeans were capped by expectations that the USDA will increase its US harvest forecasts.
The Chicago Board of Trade’s (CBOT) most active soybean contract fell 17-1/4 cents to $12.05-1/2 a bushel, ending the week down 3.52 percent, the biggest weekly drop since the week ended Aug. 20.
CBOT corn ended 6-1/4 cents lower at $5.53 a bushel, while wheat lost 7-1/4 cents to $7.66-1/2 a bushel.
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