GRAINS-Chicago soybeans dip after hitting 3-year high on China demand

Commzerbank raised its year-end wheat price forecasts, citing the ongoing attacks by Russia and Ukraine on each other's ports.

It now sees CBOT wheat Wv1 at the end of the year at $7 per bushel, up from $6.50 projected previously, and Euronext wheat BL2c1 at €240 per ton, up from €220 previously.

"Although wheat prices have recently eased somewhat amid hopes of peace between Russia and Ukraine, these hopes are likely premature, as the attacks are continuing. Together, Ukraine and Russia account for almost one quarter of global wheat exports," it said in a note.

Chicago soybean futures eased on Friday after notching all-time highs in the last session amid China's purchase of U.S. beans before the upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping.