Wheat markets traded sharply lower near midday as recent big gains prompted profit taking. Spring wheat had the largest declines with actively traded contracts now under $8 a bushel.

Soybeans are lower, but were trying to stay near unchanged after USDA reduced the crop’s rating a few points in a weekly report.

Listen to the report using the audio link on this page.

Farm Futures Senior Editor Bob Burgdorfer comes to Penton Farm Progress with experience as a reporter covering grain markets and other global news with Reuters, Inc. A journalism graduate from Kansas State University, Bob has also worked at daily newspapers and Knight-Ridder as a commodity reporter, covering grains and livestock. He has earned five writing awards for his coverage of Mad Cow Disease, immigration issues and other international breaking news stories.

For more corn, wheat and soy news, commodity marketing recommendations and daily commodity charts, subscribe to Farm Futures' free e-newsletter, Farm Futures Daily, and keep up during the day with Farm Futures on Twitter.