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How do export prices for corn, soybeans, and wheat compare?
June 05, 2019
Prices for the major U.S. export crops—corn, soybeans, and wheat—trended closely to one another over the past 4 years. From December 2014 to December 2018, the export price index for each crop fell. Prices for corn exports fell modestly, decreasing 6.7 percent during the period. Export prices decreased more for soybeans (16.1 percent) and wheat (17.5 percent).
Agricultural export price indexes, December 2014–18
Month
Export corn
Export soybeans
Export wheat
Dec 2014
100.0
100.0
100.0
Jan 2015
101.1
100.7
93.3
Feb 2015
97.8
95.1
86.2
Mar 2015
98.9
97.6
84.6
Apr 2015
98.0
96.0
89.6
May 2015
94.8
96.2
77.2
Jun 2015
92.7
92.4
80.7
Jul 2015
105.0
100.9
86.4
Aug 2015
93.1
96.0
71.8
Sep 2015
91.1
87.7
70.5
Oct 2015
97.2
86.9
77.5
Nov 2015
96.3
85.4
76.3
Dec 2015
92.3
86.5
72.6
Jan 2016
89.0
84.1
70.2
Feb 2016
93.4
85.6
71.3
Mar 2016
88.5
82.0
68.7
Apr 2016
88.7
85.7
70.4
May 2016
95.2
95.8
70.0
Jun 2016
100.9
103.9
70.9
Jul 2016
91.4
107.7
64.1
Aug 2016
88.3
97.1
63.2
Sep 2016
84.5
95.1
61.6
Oct 2016
86.7
92.1
64.0
Nov 2016
88.0
92.7
65.1
Dec 2016
85.9
96.8
64.6
Jan 2017
89.7
94.6
66.3
Feb 2017
92.0
96.5
68.1
Mar 2017
94.3
96.3
70.3
Apr 2017
89.1
87.5
66.6
May 2017
89.3
89.9
68.5
Jun 2017
89.9
86.5
69.1
Jul 2017
90.6
91.3
85.1
Aug 2017
85.7
91.5
77.8
Sep 2017
82.2
90.8
72.5
Oct 2017
84.1
90.6
73.5
Nov 2017
85.0
90.7
74.0
Dec 2017
85.5
93.1
73.9
Jan 2018
87.2
90.2
74.7
Feb 2018
93.9
92.4
75.8
Mar 2018
97.1
100.0
81.9
Apr 2018
97.3
97.1
77.5
May 2018
101.7
98.9
85.3
Jun 2018
98.3
96.3
83.9
Jul 2018
89.3
82.2
77.5
Aug 2018
92.4
85.1
85.0
Sep 2018
90.4
77.7
79.4
Oct 2018
89.7
78.1
81.5
Nov 2018
91.6
80.7
81.8
Dec 2018
93.3
83.9
82.5
At certain times, export prices for the three crops shared even closer trends. From July to September 2015, corn export prices fell 13.3 percent, soybeans export prices fell 13.1 percent, and wheat export prices fell 18.5 percent. In the fourth quarter of 2018, export prices rose 3.2 percent for corn, 8.0 percent for soybeans, and 3.9 percent for wheat. Corn, soybean, and wheat prices trend together because they share supply and demand influences. These include weather effects, substitutability, biofuels demand, the value of the U.S. dollar, and the use of crude oil as an input to production.
United States Department of Labor
