Wheat falls amid profit-taking, Black Sea war headlines

Corn and soybeans eased, with attention turning towards U.S. Department of Agriculture forecasts on Friday that will offer a gauge of weather damage to Midwest crops.

CBOT corn Cv1 fell 1-1/2 cents to $5.32 a bushel, while soybeans Sv1 ticked down 4-1/2 cents to $13.11-1/2 a bushel.

Corn and soybeans both struck their highest in around three years last week, supported by concerns about U.S. yields and the Black Sea disruptions.

The USDA's supply-and-demand forecasts on Friday are awaited as an indicator of the extent to which hot, dry spells this summer hurt U.S. Midwest crops.

On Tuesday, the USDA estimated that 56% of the corn crop was in good-to-excellent condition, down 1 percentage point from the previous week but in line with average analyst expectations.

The good/excellent score for soybeans was unchanged at 58%, exceeding average expectations of a 1 point fall.