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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.

Basis turned slightly negative for corn and soybeans despite a big drop in cash prices.

After the Bell | February 7, 2024

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Corn futures fell to contract lows overnight, leading soybeans and wheat lower as well. Traders await Thursday’s USDA reports, which will give a fresh look into South American crop estimates and U.S. balance sheets.

Corn futures fell to contract lows overnight, while soybeans posted double-digit losses and wheat followed to the downside.

After the Bell | February 6, 2024