* Profit-taking and weak crude oil prices weigh

* U.S. crop weather seen positive

(Changes dateline from HAMBURG to CHICAGO, updates for market

open)

By Heather Schlitz

CHICAGO, May 29 (Reuters) - Chicago wheat, soybean and

corn futures fell on Friday as market players booked profits

ahead of the month's end, with falling crude oil prices also

pushing agricultural commodities lower.

"People are moving to the sidelines and getting out," said

Dan Basse, president of AgResource.

Oil futures fell 2% on Friday and were on track for their

steepest weekly decline since early April after reports that the

U.S. and Iran had reached agreement on a potential ceasefire

extension.

It was not a smooth downward slope for futures Friday,

however, with comments from U.S. President Donald Trump about an

agreement and possible military action against Iran.

Corn and soybean futures often track crude oil prices, as

both are commonly used as feedstocks for biofuels. Markets

expect any U.S.-Iran peace deal will cause sharp commodity price

falls.

Chicago Board of Trade most-traded wheat fell 12-1/4

cents to $6.11-3/4 per bushel as of 11:45 a.m. CT (1645 GMT).

Corn fell 7-3/4 cents to $4.48 a bushel, and soybeans

fell 10 cents to $11.84-1/2 a bushel.

Expectations of strong demand for soyoil for biofuel

blending in U.S. fuels under the renewable volume obligations

were also supportive for soybeans.

Crop-friendly weather in the U.S. Midwest has also worked to

push prices lower as market players await the U.S. Department of

Agriculture's weekly crop progress report that will be released

on Monday.

Wheat gains were limited by upcoming Northern Hemisphere

harvests. While the U.S. crop has suffered irreparable damage

from drought, many other countries are on track for good crops.

China could start buying U.S. soybeans and farm products

under the new trade deal, traders said.

Russia is expecting a decent 2026 grain harvest, the country's

Agriculture Minister said on Friday, signalling export

competition to the U.S. and other suppliers