US Corn Stocks Soar, Futures Plummet Amid Weather Optimism

Corn futures fell for a fourth consecutive session on Thursday due to higher-than-expected US stocks. According to data from the US Department of Agriculture, US farmers and grain handlers had 35% more corn in storage as of September 1 compared to last year, following a large harvest in 2025.

The contract price for corn dropped by 0.05% to $5-1/2 a bushel. The spot basis bids for corn also softened in the US Midwest due to forecasts calling for improving weather that could promote harvest progress and grain movement.

Wheat prices were down 0.15% to $6.74-3/4 a bushel, marking a second consecutive day of losses. Meanwhile, soybean futures fell by 0.29% to $12.89-1/4 a bushel.