Corn and Soybean futures slide on initial USDA crop conditions.

Grains saw widespread weakness as July corn futures dropped 3.5 cents to 440'4 and July soybean futures slid 15.5 cents to 1165'2. The first USDA crop conditions report of the year showed corn at 67% good-to-excellent, missing the five-year average by 5%. Soybean conditions also trailed expectations, coming in at 66% good-to-excellent. Weekly export inspections remained mixed, with corn running 27% ahead of last year's pace while soybeans lagged by 20%. In the wheat complex, hard red wheat futures saw double-digit losses despite export inspections holding 9% above last year's levels.