# Why Do Corn and Soybean Prices Continue to Plummet? - AgWeb

> Cash corn is near $5.50 and cash soybeans near $13, far below last June's levels. China has canceled export sales of US corn and is buying cheaper Brazilian supplies, and Mexico is also shifting purchases to Brazil. Brazil's rapidly expanding production is attracting buyers.

- Date: 2023-05-19 · published 2023-05-19T12:00:00.000Z
- Category: trade · region Brazil · magnitude high
- Page: https://feedsoft.ai/events/7841-why-do-corn-and-soybean-prices-continue-to-plummet-agweb
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Losing key export markets such as China and Mexico to Brazil reduces US demand and keeps US corn and soy prices under pressure. Brazilian competition is likely to persist as its production grows.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- DDGS: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2023-05-25 | 5 | +8.2% | 3.0 | China cancelling US corn and Mexico and others shifting to cheaper Brazilian supply cut US export demand and weighed on prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-07-31 | [Trade Timeline and Corn and Soybean Prices - farmdoc daily](https://feedsoft.ai/events/63900-trade-timeline-and-corn-and-soybean-prices-farmdoc-daily.md) | +8.8% | -2.8% |
| CORN | 2024-05-16 | [Soybeans, corn, wheat continue mostly lower trend - Brownfield Ag News](https://feedsoft.ai/events/10512-soybeans-corn-wheat-continue-mostly-lower-trend-brownfield-ag-news.md) | +0.1% | +4.6% |
| CORN | 2025-09-27 | [Can Corn Hit $5 With Lower Yields and Record Demand? Can Soybeans Hold $10 Without China? - AgWeb](https://feedsoft.ai/events/22893-can-corn-hit-5-with-lower-yields-and-record-demand-can-soybeans-hold-10-without.md) | -1.8% | -1.5% |
| CORN | 2023-05-26 | [Brazil’s bin-busting corn crop poised to drive down prices](https://feedsoft.ai/events/5567-brazil-s-bin-busting-corn-crop-poised-to-drive-down-prices.md) | -4.9% | +0.1% |
| CORN | 2023-05-17 | [Another down day for soybeans, corn, wheat - Brownfield Ag News](https://feedsoft.ai/events/5017-another-down-day-for-soybeans-corn-wheat-brownfield-ag-news.md) | +2.4% | +0.5% |
| SOY | 2018-07-31 | [Trade Timeline and Corn and Soybean Prices - farmdoc daily](https://feedsoft.ai/events/63900-trade-timeline-and-corn-and-soybean-prices-farmdoc-daily.md) | +0.3% | -4.6% |
| SOY | 2024-05-16 | [Soybeans, corn, wheat continue mostly lower trend - Brownfield Ag News](https://feedsoft.ai/events/10512-soybeans-corn-wheat-continue-mostly-lower-trend-brownfield-ag-news.md) | +2.7% | -2.0% |
| SOY | 2019-06-26 | [Prices for canola and canola down under pressure from the soybean market](https://feedsoft.ai/events/58695-prices-for-canola-and-canola-down-under-pressure-from-the-soybean-market.md) | -3.0% | -1.4% |

## Sources

- agweb.com: https://www.agweb.com/news/crops/corn/why-do-corn-and-soybean-prices-continue-plummet

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