Grains

Grains sit at the foundation of the global food supply and are among the most actively traded commodities in the world. Corn, wheat, and soybeans are the "big three": corn feeds livestock and fuels ethanol production, wheat feeds people directly through bread and pasta, and soybeans supply both vegetable oil and protein-rich animal feed. Each has its own contract specifications, trading calendar, and price drivers.

What makes grains unusual in market data is that their prices follow a crop calendar — a seasonal rhythm tied to planting, growing, and harvesting cycles. In the Northern Hemisphere, corn and soybeans are typically planted in spring and harvested in autumn. Wheat has two major varieties — winter wheat and spring wheat — each with its own growing window. Traders and analysts watch weather forecasts, soil-moisture reports, and export-demand figures throughout this calendar to assess likely supply.

A common confusion is treating grain prices as interchangeable. Corn, wheat, and soybeans trade at different prices, in different contract sizes, and respond to different demand drivers. Corn is heavily influenced by US ethanol policy, while soybean prices are closely tied to Chinese import demand. The agricultural commodities guide walks through each crop in more detail. For the key government report that moves grain prices every month, see the WASDE entry.