US Farmers Rush to Sell Crops as Iran War Fuels Rally

Surging grain prices trigger flurry of corn and soybean sales by farmers who held back last year's harvests

Mar. 13, 2026 at 2:02pm

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U.S. grain prices have surged since the Iran war began, triggering a flurry of corn and soybean sales by farmers who had been holding onto last year's harvests due to weak prices. Farmers across the Midwest have capitalized on climbing prices by selling crops from storage to ethanol producers and major traders. Growers also raced to sign contracts to pre-sell crops they have not yet planted for this year's harvest. The rally allowed many farmers to lock in modest profits to cover rising input costs, though the gains were not enough to end the downturn in the agricultural economy.

Why it matters

The surge in grain prices due to the Iran conflict has provided a rare opportunity for U.S. farmers who had been struggling with low prices and a downturn in the agricultural economy. While the gains may not be enough to fully offset rising costs, the sales have allowed many farmers to generate some profits and pay down debts.

The details

Since the U.S. and Israel attacked Iran, farmers across the Midwest have sold significant portions of their stored corn, soybeans and wheat to ethanol producers and major agribusinesses like Archer-Daniels-Midland and Bunge. Growers also rushed to pre-sell crops they have not yet planted for the 2026 harvest. The rally was driven by a spike in oil prices due to the war, as well as disruptions to crucial fertilizer shipments that boosted corn prices. While the gains were generally enough to allow farmers to turn a profit, break-even levels vary and the aid is seen as only a short-term fix for the underlying profitability challenges in the sector.

  • Since the U.S. and Israel attacked Iran, farmers have been selling stored crops.
  • Soybean futures reached a May 2024 high above $12 per bushel on March 13, 2026.
  • Corn futures reached the highest point since May 2025 this week.
  • Wheat set the highest level since June 2024 this week.

The players

Dave Kestel

A farmer in Manhattan, Illinois who sold about 40% of the corn and soybeans he harvested last year and roughly 10% of what he expects to harvest in 2026.

Julio Garros

Bunge's chief operating officer, who said the company is "basically filling all of our grain elevators in North America and in South America as we speak."

Angie Setzer

Partner at advisory firm Consus Ag Consulting, whose customers sold corn, soybeans and wheat when the market rallied.

Keaton Lyons

A farmer who farms about 1,200 acres in Rensselaer, Indiana and agreed to sell about 100,000 bushels of corn he will soon plant.

Richard Guse

A farmer in Waseca, Minnesota who farms about 3,500 acres with his brother and son, and made a small profit selling about a third of his 2025 corn crop to an ethanol producer.

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What they’re saying

“I was doing the farmer happy dance.”

— Dave Kestel, Farmer (ksgf.com)

“We are basically filling all of our grain elevators in North America and in South America as we speak.”

— Julio Garros, Chief Operating Officer, Bunge (ksgf.com)

“When the market rallied big, it provided a lot of opportunities that they had been waiting for.”

— Angie Setzer, Partner, Consus Ag Consulting (ksgf.com)

“Pricewise, I feel really good. The thing that I'm nervous about is we don't have a kernel in the ground and we're 65% sold.”

— Keaton Lyons, Farmer (ksgf.com)

“The prices have run up in a hurry. It goes down a lot faster than it comes up.”

— Richard Guse, Farmer (ksgf.com)

What’s next

As the conflict in Iran continues, analysts will be closely watching whether the surge in grain prices and farmer sales can be sustained or if the rally proves to be short-lived.

The takeaway

The spike in grain prices due to the Iran war has provided a rare opportunity for U.S. farmers to generate some profits and pay down debts after years of low prices and economic challenges. However, the gains may not be enough to fully offset rising input costs, underscoring the ongoing struggles facing the agricultural sector.