US Grain Markets Plummet on Harvest Pressure and Uncertainty Over Export Demand
US grain markets plummeted on September 23, with corn and winter wheat futures falling by about 1.25% and soybeans declining roughly 0.5%. This sharp decline in prices has significant implications for American farmers, who are currently in the midst of harvest season.
The decline in prices is attributed to a combination of technical selling, harvest pressure, and uncertainty over export demand and US-China trade relations. Despite a fresh export signal from Mexico, which reported 3.9 million bushels of US corn sold for delivery during the 2026/27 marketing year, the market remained bearish.
The December corn contract settled at $5.29 per bushel, while November soybeans closed at $13.18. The decline in prices can have a ripple effect on farm margins, basis levels, storage decisions, and cash bids for farmers who are selling directly or establishing futures or options coverage.