Corn futures slide to four-month low on big US crop and weak exports
Corn hit its lowest since early July and soybeans their lowest since mid-August, while wheat fell as investors watched Russia-Ukraine peace talks, per Reuters.
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what happened
According to Reuters, corn futures on the Chicago Board of Trade dropped to a four-month low, and soybeans fell to their weakest level since mid-August. Analysts point to expectations of large US harvests and disappointing export sales. The US Department of Agriculture estimates this year's US corn crop as the second-largest on record, and its soybean crop as the biggest ever.
Wheat also declined as traders weighed three-way peace talks between Russia, Ukraine and the US in Abu Dhabi on November 10-11. Fighting has already disrupted grain exports from the Black Sea region, so an end to hostilities could add pressure to an already weak market.
why it matters
For grain markets, demand matters as much as supply: exports lagging last year's pace and competition from Brazil for soybean sales keep prices under pressure. A peace deal would return Russian and Ukrainian grain to the market, which could weigh further on prices.
market impact
Grains: a large crop and weak exports pressure corn, soybeans and wheat
- Corn (CBOT) pressure down — a large US crop and weak exports limit demand
- Soybeans (CBOT) pressure down — worries about demand outside China and Brazilian competition
- Wheat (CBOT) pressure down — prospect of Russian and Ukrainian grain returning if hostilities end
tags
instruments
sources
- Corn futures hit four-month low on big US crop, export worries — Reuters, 3 November 2026 at 19:07 UTC
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