US farmers rush to sell grain as Iran war drives price rally

US farmers have accelerated sales of corn, soybeans and wheat after grain prices surged following the outbreak of the war with Iran. The rally allowed producers to market part of last year’s harvest that had been held in storage due to previously weak prices.

According to traders, growers across the Midwest have been selling grain from on-farm bins to ethanol producers and major trading companies such as Archer-Daniels-Midland and Bunge. Many farmers have also rushed to sign forward contracts for crops that have not yet been planted but are expected to be harvested later this year.

The price jump came as a welcome surprise for producers and helped some of them lock in modest profits to offset rising costs for fertilizers, chemicals and seeds. However, farmers say the gains are still not enough to fully reverse the broader downturn in the agricultural economy.

Data from the United States Department of Agriculture show that as of December 1 farmers were storing 14% more corn on farms than a year earlier and about 2% more soybeans. Those larger stocks allowed growers to quickly take advantage of the recent price rally.

Higher oil prices linked to the conflict also supported crop markets, boosting demand for feedstocks used in biofuel production. As a result, soybean futures on the Chicago Board of Trade reached their highest level since May 2024, while corn hit its strongest level since May 2025 and wheat climbed to the highest point since June 2024.

Tags: prices, soybean, wheat, USA, corn