CHICAGO, May 29 (Reuters) - Chicago Board of Trade wheat futures turned lower on Friday as traders liquidated long positions ahead of the month's end.

• Oil futures fell 2% on Friday, posting their steepest weekly decline since early April after reports that the U.S. and Iran had reached an agreement on a potential ceasefire extension. O/R

• 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.

• The U.S. Department of Agriculture reported weekly wheat export sales in the current marketing year at 250,200 metric tons.

• Russia is expecting a decent 2026 grain harvest, the country's Agriculture Minister said on Friday, signaling export competition to the U.S. and other suppliers.

• CBOT July soft red winter wheat WN26 settled 13-1/2 cents lower to $6.10-1/2 per bushel.

• K.C. July hard red winter wheat KWN26 dropped 15-1/2 cents to $6.49-3/4 per bushel, and Minneapolis July spring wheat MWEN26 settled down 13-1/2 cents to $6.63-3/4 per bushel.