3 Big Things Today, Feb. 3, 2026
- Media Logic Radio
- Feb 3
- 3 min read
By Tony Dreibus | Published on February 3, 2026
1. Soybeans Rise on Weak Dollar, Brazil Harvest Delays
Soybean futures were higher in overnight trading as the dollar remains weak and on some potential harvest delays in Brazil.
The value of the greenback last week fell to the lowest in four years, making dollar-denominated goods more attractive to overseas buyers.
While the currency rebounded slightly in the past few sessions it's still relatively low, increasing the appeal of U.S. agricultural products to importers.
In Brazil, meanwhile, the harvest of what's expected to be a record crop is now underway.
Rainfall this week will favor several states including Mato Grosso, Sao Paulo, and Parana, said Don Keeney, an agricultural meteorologist with Maxar.
Precipitation will improve moisture for beans that are still growing in central and northern areas but will delay the harvest in other regions, he said.
Rain is also forecast for parts of Argentina that is expected to boost soil moisture in southwestern parts of the South American country, Keeney said.
Soybean futures for March delivery rose 7¾¢ to $10.68 a bushel overnight on the Chicago Board of Trade. Soy meal dropped $2.20 to $292.30 a short ton and soy oil futures jumped 1.35¢ to 54.55¢ a pound.
Corn futures added 1¼¢ to $4.27 a bushel.
Wheat futures rose 2¢ to $5.29¾ a bushel, while Kansas City futures gained ¼¢ to $5.35½ a bushel.
2. Corn, Wheat Export Inspections Down Week to Week
Inspections of corn and wheat for overseas delivery declined week to week while soybean assessments were little changed, according to USDA data.
Corn inspections for export fell to 1.14 million metric tons in the seven days that ended on Jan. 29, the agency said.
That's down from 1.55 million tons a week earlier and the 1.26 million tons examined during the same week a year earlier.
Wheat assessments dropped to 326,828 metric tons from 378,991 tons the previous week, USDA said. Still, that topped the 253,137 tons inspected during the same week last year.
Soybean inspections were little changed, falling to 1.31 million metric tons from 1.34 million tons. That's still higher than the 1.14 million tons assessed at this point a year ago, the agency said.
Since the start of the marketing year on Sept. 1, USDA has inspected 32.6 million metric tons of corn for offshore delivery, up from 21.8 million tons during the same timeframe a year earlier, USDA said.
Soybean inspections since the beginning of September now stand at 22 million metric tons, down from 34.2 million tons at this point a year ago.
Examinations of wheat since the start of the grain's marketing year on June 1 are now at 16.7 million metric tons, an increase from 14.1 million tons in the same period last year, USDA said in its report.
3. Winter Weather Forecast for Southern Indiana, Ohio
Winter weather advisories remain in effect in parts of southern Indiana and Ohio as more snow is expected this morning, according to the National Weather Service.
As much as 3 inches of snow are forecast with some areas possibly receiving more, the agency said.
Roads are slippery this morning and surfaces could be icy.
In central and southern Kansas, light rain and snow is possible tonight, though little or no accumulation is expected, NWS said.
"A mix of light rain and snow will linger into Wednesday morning across central and south-central Kansas," the agency said.
Article: SUCCESSFUL FARMING, FEBRUARY 3, 2026
