Wheat down 3%; soy, corn also sag

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    CHICAGO – Chicago wheat futures fell more than 3 percent on Wednesday and corn and soybean futures also slipped as traders booked profits after recent highs in all three markets, and ahead of Thursday’s US Thanksgiving holiday, analysts said.

    Chicago Board of Trade March wheat futures WH1 settled down 21 cents at $5.96-1/2 a bushel, turning lower after rising to a three-week high of $6.22-3/4 in early moves.

    Last month, the most-active CBOT wheat contract Wv1 neared a six-year top at $6.38-1/4 as dry conditions in parts of Russia and the United States raised supply concerns.