By Tony Dreibus | Updated on February 9, 2026

1. Soybean, Grain Futures Lower in Overnight Trading 

Soybean and grain futures were lower overnight as investors focus on an outsized Brazilian crop and a lack of purchased by China. 

Brazil is expected by USDA to produce 178 million metric tons of soybeans in the 2025-2026 marketing year. If realized that would be the highest on record. 

The South American country, where the harvest is well underway, is already the largest exporter of the oilseeds and may see more business this month. 

Shipping schedules from exporter Anec show shipments from Brazil may reach 14 million metric tons from January through February, Reuters reported on Friday. 

Also weighing on prices overnight are a lack of purchases by China. 

President Donald Trump said last week that he spoke with Chinese President Xi Jinping and indicated the Asian nation would increase its purchases of U.S. beans to 20 million metric tons from a previously agreed-upon 12 million tons. 

Since the announcement, however, USDA hasn't indicated any large sales of soybeans. 

USDA's only export sales announcement for 100,000 metric tons or more of any agricultural product in the past week was for 130,480 metric tons of corn for delivery in the current marketing year to an unnamed country. 

Analysts are skeptical that Beijing will drastically increase its purchases of U.S. soybeans when Brazil's prices are much lower -- at least not without receiving something in return. 

Soybean futures for March delivery fell 4 1/2¢ to $11.10 3/4 a bushel overnight on the Chicago Board of Trade.

Soy meal lost $4.30 to $299.30 a short ton and soy oil futures jumped 0.98¢ to 56.31¢ a pound. 

Corn futures for March delivery lost 1 3/4¢ to $4.28 1/2 a bushel.

Wheat dropped 1 1/2¢ to $5.28 1/4 a bushel, while Kansas City futures were down 3¢ to $5.28 1/4 a bushel.

RELATED: Grains in the Red This Morning | Monday, Feb. 9, 2026

2. Investors Raise Bullish Bets on Beans, CFTC Says

Speculators raised their bullish bets on soybeans last week while reducing their net-short positions, or bets on lower prices, in corn, according to data from the Commodity Futures Trading Commission. 

Investors held 29,153 net-long positions, or bets on higher prices, in soybeans in the seven days that ended on Feb. 3, the agency said. 

That's up from 19,794 contracts a week earlier and the largest bullish position since Jan. 6. 

Money managers were net short by 80,613 contracts in corn futures, down from 81,596 contracts the previous week, CFTC said. That's the smallest bearish position since early January. 

In wheat, hedge fund managers and other large investors reduced their bearish bets on soft-red winter futures to 81,543 contracts from 94,047 contracts the week prior. 

Speculators also reduced their net-short positions in hard-red winter wheat to 7,777 futures contracts, down from 8,894 contracts a week earlier, CFTC said in its report. 

The weekly Commitment of Traders report from the Commodity Futures Trading Commission shows trader positions in futures markets.

The report provides positions held by commercial traders, or those using futures to hedge their physical assets; noncommercial traders, or money managers (also called large speculators); and nonreportables, or small speculators.

A net-long position indicates more traders are betting on higher prices, while a net-short position means more are betting futures will decline.

3. Red-Flag Warnings Issued for the U.S. Southern Plains

Red-flag warnings have been issued for the U.S. southern Plains and parts of Nebraska amid extremely dry weather, National Weather Service maps show. 

Winds in the Oklahoma and Texas panhandles will be sustained from 20 to 25 mph and gust up to 40 mph this afternoon, the agency said. 

Relative humidity will fall as low as 7% and temperatures will be in the 70s. 

"A combination of strong winds, low relative humidity and warm temperatures will create favorable weather for rapid fire growth and spread," NWS said. 

Red-flag warnings will take effect this morning and last throughout the day in a wide stretch of Nebraska. 

Winds will gust up to 30 mph and humidity will drop as low as 14%, the agency said. Temperatures will rise to around 76 degrees Fahrenheit this afternoon, making conditions favorable for wildfires. 

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