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Soybean futures extended gains from the two previous days during overnight trade, while corn and wheat rebounded amid corrective buying.

The average cash cattle price firmed $1.89 to the second highest ever.

Basis firmed a little for both corn and soybeans over the past week.

After the Bell | August 9, 2023

Soybeans and corn are expected to trade higher, while wheat is likely to face slight price pressure.

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USDA will also update its wheat crop estimates, along with the U.S. and global balance sheets.

Soybeans traded higher overnight, while wheat faced pressure and corn was caught in the middle.

Annual survey highlights farmland prices and average cash rents across state.