Corn Futures Plummet on Unexpected Surge in Stockpiles

Corn futures plummeted by 21.25 cents to $5.0075 per bushel, their lowest settlement since August 19, after the USDA reported a significant increase in September 1 stockpiles.

The agency estimated U.S. corn stocks at 2.095 billion bushels, up 35% from the same date last year and a seven-year high.

This unexpected surge was due to the massive size of the 2025-26 corn crop, which was confirmed by the USDA's quarterly Grain Stocks report.

Farmers' Keeper manager Jeremy McCann noted that the market did not receive the yield reduction it was expecting and that with stocks coming in higher than anticipated, well above last year's levels, corn prices are selling off sharply.