Wheat falls

SYDNEY: U.S. wheat fell 1 percent on Friday as prices continued to retreat from a two-year high touched earlier in the week, though the commodity was still on track for its fifth straight weekly gain.

Corn edged lower, but was set to record weekly gains of more than 5 percent,
while soybean prices edged higher.

The most active wheat futures on the Chicago Board of Trade fell 1 percent to $5.33-3/4 a bushel, after closing down 3.8 percent on Thursday.

Wheat hit a two-year high earlier in the week at $5.74-1/2 a bushel. Despite edging lower, wheat is still up nearly 1.5 percent for the week, the fifth straight weekly rally. Prices have soared more than 24 percent over that five-week period.