Soybeans snap 2-session rally

SINGAPORE, Feb 7 (Reuters): Chicago soybean futures declined on Wednesday with the market's focus on higher production in Argentina, while corn prices dropped to the lowest in more than three years.

Wheat lost ground amid ample Russian supplies.

"Soybean prices are on the decline again after we saw some gains," said one trader in Singapore. "The market is waiting for crop reports this week, but there is no major worries over supplies."

The most-active soybean contract on the Chicago Board of Trade (CBOT) fell 0.9 per cent to $11.89-1/4 a bushel as of 0457 GMT, snapping two sessions of gains.

Corn lost 0.9 per cent to $4.35 a bushel, the lowest since December 2020, and wheat gave up 0.3 per cent to $5.93 a bushel.