Chicago corn futures held above $6.7 per bushel, not far from an over two-month high of $6.8 hit on January 17th, amid supply chain disruptions, increasing production costs, and rising global demand. The ongoing war in Ukraine, which accounts for 15% of global corn exports, alongside late planting in the US and dry weather in South American countries, continued to weigh on production. The US Department of Agriculture estimated total corn production in 2022 at 13.730 billion bushels, down 1.4% from the most recent November estimate and down 9% from the 2021 estimate of 15.074 billion bushels. Meanwhile, the demand from top consumers US and China, especially in industries such as the animal feed sector, has seen further pick-up. China is set to boost corn purchases following its economy reopening after prolonged COVID-19 lockdowns. Lastly, according to the USDA, corn export inspections of 727,643 tonnes fell below the week-ago totals, in line with market expectations.

Historically, Corn reached an all time high of 843.75 in August of 2012. Corn - data, forecasts, historical chart - was last updated on January of 2023.

Corn is expected to trade at 686.19 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 735.47 in 12 months time.

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Corn



Price Day Month Year
Soybeans 1,489.00 -1.25 -0.08% 0% 5.81%
Wheat 734.50 14.50 2.01% -5.16% -9.07%
Lumber 458.90 24.00 5.52% 15.77% -56.45%
Cheese 1.98 0 0% -3.89% 4.38%
Palm Oil 3,892.00 3.00 0.08% -1.72% -26.87%
Milk 19.43 -0.05 -0.26% -5.36% -4.19%
Cocoa 2,585.00 -23.00 -0.88% -1.82% 3.28%
Cotton 86.78 -1.01 -1.15% 3.15% -28.23%
Rubber 142.10 0.80 0.57% 7.65% -20.03%
Orange Juice 203.80 -0.60 -0.29% -0.34% 30.77%
Coffee 159.85 1.30 0.82% -4.25% -32.81%
Oat 375.00 4.2500 1.15% 1.21% -42.53%
Wool 1,341.00 0 0% 1.06% -3.66%
Rice 18.20 -0.0250 -0.14% -0.68% 21.58%
Canola 796.70 -10.00 -1.24% -7.25% -19.95%
Sugar 19.88 0.18 0.91% -2.17% 5.86%
Tea 2.81 0 0% -0.71% 1.08%
Corn 675.40 9.1452 1.37% 0.10% 8.93%


Corn
Corn Futures are available for Trading in The Chicago Board of Trade (CBOT® ) which was established in 1848 and is a leading futures and futures-options exchange. More than 3,600 CBOT member/stockholders trade 50 different futures and options products at the CBOT by open auction and electronically. The biggest corn exporters are the United States, Argentina, Brazil, Ukraine, and France. In 2020 five of them generated more than 75% of overall sales.
Actual Previous Highest Lowest Dates Unit Frequency
675.40 666.25 843.75 22.90 1912 - 2023 USd/BU Daily