The CBOT sank lower on Friday as end-of-the-week and end-of-the-month profit taking pressured commodity prices. Beyond position-based trading, rains across South Dakota and parts of the Midwest this afternoon further elicited a selling bias from funds and trading algorithms. Wheat was the strongest market but even it finished lower with spillover selling from wheat and soybeans capping any rally attempt.  Despite Friday’s weaker trade, WPI notes that, of the major CBOT ag commodities, no trading ranges have been violated. Corn, soybean, soyoil, soymeal, and wheat are all still within ranges WPI identified at various points this week, meaning the fundamental and technical outlook has not changed significantly following Friday&rsq...