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Corn and wheat traded lower overnight, while soybeans firmed a little in quiet price action ahead of USDA’s February crop reports later this morning.
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Declining prices for key commodities weighed on agricultural producer sentiment in January.
Corn, soybeans and wheat each saw gains overnight with soybeans leading the way higher.
Corn, soybeans and wheat traded in narrow ranges in two-sided price action overnight but have adopted a mostly firmer tone this morning.
Weekly soybean inspections during the week ended Feb. 1, rose more than 500,000 MT from the previous week and above the pre-report range. Meanwhile, corn inspections dropped 300,000 MT on the week.
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Soybeans saw action on both sides of unchanged before selling lower into the break, while corn and wheat traded lower most of the overnight session.
