Wheat falls

Singapore : Chicago wheat slid on Friday after a three-session rally. Corn edged lower as an outlook for warmer temperatures in the U.S. Midwest is likely to boost planting activity, while soybean prices eased for a second day on worries about demand from top importer China.

The most-active wheat contract on the Chicago Board of Trade is up 3.1 percent this week after closing largely unchanged last week. Corn is up 1 percent this week, the biggest weekly gain in three weeks, but prices could face downward pressure in the weeks ahead if U.S. weather turns favourable for planting. Soybeans were down 0.6 percent this week after posting a 2-percent gain the previous week. "Weather forecasters continue to expect a storm system through the Hard Red Winter (HRW) region starting today and continuing through to Sunday," said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia. "Some forecasters though are reducing the amount of rain in the system.