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AgMarket.Net Reports Mixed Commodity Futures Ahead of USDA Report
Corn down, soybeans up, wheat down as markets eye potential China soybean purchases
Published on Feb. 6, 2026
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AgMarket.Net's early morning market analysis on February 6, 2026 shows a mixed performance across major commodity futures. Corn is down 1-2 cents, soybeans are up 2-3 cents, and wheat is down 0-1 cent. Crude oil is down $1.00-$1.01 and the U.S. dollar is up 2-3 points. Weekly export sales were within trade estimates but at the lower end for corn, soybeans and wheat. Rains in Argentina were a bit underperforming but more is expected this weekend. Brazil's crop estimates keep increasing. The soybean complex is seeing strong money flows amid talk of China potentially buying another 8 million metric tons from the U.S.
Why it matters
The commodity futures markets are closely watched as indicators of broader agricultural and economic trends. This report provides insight into the current state of major crops like corn, soybeans and wheat, as well as the factors influencing their prices, including weather, export demand and macroeconomic conditions. Traders, farmers and agribusinesses use this information to make informed decisions.
The details
According to the report, the corn market is down 1-2 cents, with support at $4.17 3/4 and resistance at $4.36 1/4. The soybean market is up 2-3 cents, with support at $10.80 and resistance at $11.15 1/4. The wheat market is down 0-1 cent, with support at $5.26 1/2 and resistance at $5.48 1/2. Crude oil is down $1.00-$1.01 and the U.S. dollar is up 2-3 points. Weekly export sales were within trade estimates but at the lower end for the major crops.
- On Tuesday we will get the February USDA Crop Production report.
- Rains in Argentina were a bit underperforming but there is more on the way this weekend into early next week.
The players
AgMarket.Net
A market analysis and advisory service providing insights on commodity futures and agricultural trends.
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
This report highlights the complex factors influencing major commodity futures, from weather patterns to export demand, as the agricultural industry looks ahead to the upcoming USDA crop production report and potential shifts in global trade dynamics.
