US Grain Futures Plummet After Trump-Xi Meeting

US grain futures plummeted on Friday after President Donald Trump's meeting with Chinese President Xi Jinping failed to yield major new purchases of US agricultural commodities.

The December corn contract dropped by about $0.11 per bushel, reaching a five-week low and erasing over 6% of its value from the three-year high it reached on September 2.

November soybeans also fell, dropping over $0.16 to around $13 per bushel, while December Chicago SRW wheat lost nearly $0.18 per bushel.

The declines reflect the significant impact of trade expectations on US farm income and marketing decisions, as well as harvest-season cash flow.