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Wheat drops sharply in corrective setback; corn lower, soybeans mixed ahead of Wednesday’s USDA reports.

Weekly export inspections for week ended Oct. 6 reported corn, beans, and wheat within expectations, however corn and bean inspections are now notably behind last year’s, at 9.4% and 23% behind, respectively.

Russia targets Ukrainian energy infrastructure

Grain, soybean futures lower in corrective pullback as traders await USDA Crop Production update.

Corn surpasses $7 for first time since June, ends at 3 1/2-month high; winter wheat soars to three-month high on Russia concerns.

Corn, soybeans and wheat pulled back from Monday’s gains amid corrective selling and weakness in the crude oil market.

The 2022-23 domestic balance sheets will reflect Sept. 1 stocks and the final 2022 wheat crop estimate, along with any changes to this year’s corn, soybean and cotton crop forecasts.

Grain and soy futures are higher to start the week. Lean hog futures are moderately higher and cattle futures are mixed with feeders under pressure.