# US farmers face harsh economics with record corn supplies in silos | Reuters

> US corn prices fell to their lowest since November 2020 after record harvests in the United States and Brazil and weak domestic demand. Farmers who held grain back after dry weather in May and June now face storage bins full of record corn. Futures that neared $6.30 a bushel in June have dropped to about $4.10.

- Date: 2024-02-22 · published 2024-02-22T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/31695-us-farmers-face-harsh-economics-with-record-corn-supplies-in-silos-reuters
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Record stockpiles and heavier export competition point to continued pressure on corn values and weaker farm incomes, which may reduce spending on feed and inputs. Lower corn prices are favorable for feed buyers in the near term.

## Read by commodity

- CORN: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/us-farmers-face-harsh-economics-with-record-corn-supplies-silos-2024-02-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.