# U.S. soy drops from 2-year highs on profit taking; wheat firms - Agweek | #1 source for agriculture news, farming, markets

> U.S. soybean futures fell back from two-year highs on Friday as investment funds took profits after a sharp weekly rally. Wheat firmed on heavy rains in western Europe, and rain in Argentina raised concerns about its soybean harvest.

- Date: 2016-06-03 · published 2016-06-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/9124-u-s-soy-drops-from-2-year-highs-on-profit-taking-wheat-firms-agweek-1-source
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Profit-taking by funds weighs on soybean prices in the short term, though Argentine harvest losses limit the downside for feed-related markets.

## Read by commodity

- SOY: bearish ▼
- CORN: neutral
- WHEAT: bullish ▲

## Sources

- agweek.com: https://www.agweek.com/business/u-s-soy-drops-from-2-year-highs-on-profit-taking-wheat-firms

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.