CBOT wheat falls sharply over profit-taking

CHICAGO, March 2 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural commodities closed mixed on Friday with wheat futures sliding more than three percent due to profit-taking.

The most active corn contract for May delivery fell one cent, or 0.26 percent to settle at 3.8525 dollars per bushel. May wheat delivery lost 15.5 cents, or 3.01 percent to close at 5.00 dollars per bushel. May soybeans were up three cents, or 0.28 percent to settle at 10.71 dollars per bushel.

CBOT floor brokers reported that funds sold 3,400 contracts of wheat, 2,300 contracts of corn, and were net flat in soybeans.

Wheat futures retreated as traders locked in profit after prices hit seven-month highs to settle at 5.155 dollars in the previous session.

Meanwhile, better-than-expected export sales of U.S. soybeans recently continued to support the prices, which reached 13-month highs.

However, the talk of possible trade war after President Donald Trump's announcement to levy high tariffs on steel and aluminum imports has led to fears that the U.S. agricultural commodities could be the potential target if other countries take retaliatory measures. Enditem