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The wheat market faced profit-taking and corrective selling overnight following strong gains the first two days this week. Corn was pulled slightly lower by wheat, while soybeans favored the upside in two-sided trade.

SRW wheat jumps near two-month high on Russia-Ukraine concern, Plains dryness, soybeans firmer, corn mixed.

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Wheat climbs near four-week high on Russia-Ukraine tension, corn rise near seven-month high, soybeans firm.

Wheat futures found followthrough buying overnight amid heightened tensions with Russia and deteriorating U.S. winter wheat conditions, while the corn and soybean markets favored the downside in light, two-sided trade.

Individual state crop conditions ratings released on Monday showed further deterioration of the HRW wheat crop during January due to drought in the Plains.

Corn futures settle at 7 1/2-month high as Russia-Ukraine tension helps send winter wheat to four-week highs, soybeans lower.

It’s typical for frozen beef stocks to rise during December, though the increase was slightly greater than normal. It’s also normal for pork stocks to decline in December, though the drop was less than average.