Source: Darrel Good, Extension Economist, University of Illinois

A number of factors continue to influence corn and soybean prices. One of the more important factors recently has been weather and crop conditions in South America, particularly in Argentina.

Argentina and Brazil are large exporters of soybeans and soybean products and Argentina is typically a large exporter of corn. Recently, Brazil has also exported large quantities of corn as production has exceeded domestic requirements. The size of those crops, then, has the potential to influence the export demand for U.S. corn and soybeans.