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US. grain prices have surged since the Iran war began, triggering a flurry of corn and soybean sales by farmers who squirreled away last year\u2019s harvests due to weak prices.<\/strong><\/p>\n Since the US. and Israel attacked Iran, farmers across the Midwest have capitalized on climbing prices \u200bby selling corn, soy and wheat from storage bins to ethanol producers and major traders including Archer-Daniels-Midland and Bunge.<\/p>\n Growers also raced \u200cto sign contracts to pre-sell crops they have not yet planted and expect to harvest this year.<\/p>\n The rally was a welcome surprise for farmers and allowed many to lock in modest profits to cover soaring fertilizer, chemical and seed bills, though they said the gains were not enough to end a downturn in the agricultural economy.<\/p>\n Dave Kestel, a farmer \u200bin Manhattan, Illinois, said he sold about 40% of the corn and soybeans he harvested last year and roughly 10% of what he \u200bexpects to harvest in 2026. He had been paying daily charges to store last year\u2019s crops and was eager \u2060to unload them when prices jumped.<\/p>\n \u201cI was doing the farmer happy dance,\u201d Kestel said.<\/p>\n Soybean futures touched a May 2024 high above $12 per bushel on \u200bthe Chicago Board of Trade on Thursday. Corn futures reached the highest point since May 2025 this week, while wheat set the highest level since June \u200b2024.<\/p>\n Last year, prices sagged due to ample supplies and as soy exports suffered due to President Donald Trump\u2019s trade war with China. The U.S. Department of Agriculture has started distributing $12 billion in aid to farmers hurt by Trump\u2019s trade policy.<\/p>\n QUICK TO SELL<\/strong><\/p>\n Analysts said the aid strengthens balance sheets in the short term but does little to improve underlying profitability.<\/p>\n Farmers \u200bwere quick to sell crops as they sought to stem losses and questioned how long the rally would last. Corn and soybean prices at \u200btimes have each been up about 6% from their levels since before the war began.<\/p>\n \u201cWe are basically filling all of our grain elevators in North America and in South \u200cAmerica \u2060as we speak,\u201d Julio Garros, Bunge\u2019s chief operating officer, said during an investor event on Tuesday.<\/p>\n A spike in oil prices because of the war lifted prices for crops used to make biofuels. Also boosting corn prices, the conflict disrupted crucial fertilizer shipments.<\/p>\n The gains were generally enough to allow farmers to make money, though break-even levels vary, said Angie Setzer, partner at advisory firm Consus Ag Consulting.<\/p>\n \u201cWhen the market rallied big, it provided a lot of opportunities that they had \u200bbeen waiting for,\u201d said Setzer, whose customers \u200bsold corn, soybeans and wheat.<\/p>\n Some farmers took \u2060chances on the size of their fall harvests. Keaton Lyons, who farms about 1,200 acres in Rensselaer, Indiana, agreed to sell about 100,000 bushels of corn he will soon plant.<\/p>\n \u201cPricewise, I feel really good,\u201d Lyons said. \u201cThe thing that \u200bI\u2019m nervous about is we don\u2019t have a kernel in the ground and we\u2019re 65% sold.\u201d<\/p>\n FARMERS SEIZE OPPORTUNITY<\/strong><\/p>\n Many \u200bfarmers sold much of \u2060last year\u2019s soybean crop in late 2025, but a large share of corn remained unpriced, so the recent surge could really help corn-heavy operations, said Wesley Davis, partner at Meridian Agribusiness Advisors.<\/p>\n As of December 1, growers were storing 14% more corn on farms than a year earlier and 2% more soybeans, U.S. Department of Agriculture \u2060data show.<\/p>\n In \u200bWaseca, Minnesota, Richard Guse, who farms about 3,500 acres with his brother and son, said \u200bhe made a small profit selling about a third of his 2025 corn crop to ethanol producer Guardian Energy for $4.25 per bushel this week.<\/p>\n \u201cThe prices have run up in a hurry,\u201d \u200bGuse said. \u201cIt goes down a lot faster than it comes up.\u201d<\/p>\n<\/div>\n