Corn ($CORN) Commodity Forecast: Up 2.5% Today

What is Corn?

Corn is a widely traded commodity used in various industries such as food, animal feed, and biofuels. Today, the market saw a strong bullish movement in corn prices.

Why is Corn going up?

CORN commodity is up 2.5% on Jan 10, 2025 17:00

• Dry conditions in Argentina, a major corn exporter, have raised concerns about crop yields, leading to a surge in corn futures prices.
• The weakening U.S. dollar has made corn more attractive to foreign buyers, contributing to the bullish movement.
• Uncertainty surrounding U.S. tariffs under the upcoming administration has added to economic expectations, supporting the rise in corn prices.
• The lack of expected rainfall over the weekend has heightened worries about crop stress, further boosting corn futures above $4.55 per bushel.

CORN Price Chart

CORN Technical Analysis

CORN News

Corn Futures Rise Above $4.55

Corn futures surged above $4.55 per bushel in December, hovering levels not seen since June 13, due to growing concerns over dry conditions in Argentina, a major corn exporter. The hot and dry summer in the Southern Hemisphere is damaging Argentina's corn crops, with forecasts for much-needed moisture failing to materialize over the weekend. This lack of rain has increased the risk of crop stress, supporting corn prices. Also, the weakness in the U.S. dollar contributed to the rise in corn futures, as it dropped 1.07% against other major currencies. Additionally, uncertainty about U.S. tariffs under President-elect Trump’s administration may influence economic expectations, further supporting corn prices.

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Corn Price History

13.08.2024 - CORN Commodity was up 7.4%

• The recent bearish trend in Corn, hitting a near 4-year low, might have triggered a buying spree among investors looking to capitalize on the low prices.
• The prolonged decrease in Corn prices over the past few weeks and months could have created an attractive entry point for traders, leading to increased demand and a bullish market movement.
• The market sentiment towards Corn may have shifted due to factors such as weather conditions, supply chain disruptions, or changes in demand, prompting a sudden surge in buying activity and driving prices higher.

10.00.2025 - CORN Commodity was up 2.5%

• Dry conditions in Argentina, a major corn exporter, have raised concerns about crop yields, leading to a surge in corn futures prices.
• The weakening U.S. dollar has made corn more attractive to foreign buyers, contributing to the bullish movement.
• Uncertainty surrounding U.S. tariffs under the upcoming administration has added to economic expectations, supporting the rise in corn prices.
• The lack of expected rainfall over the weekend has heightened worries about crop stress, further boosting corn futures above $4.55 per bushel.

28.02.2024 - CORN Commodity was up 1.7%

• Chicago corn futures stabilized around $4.4 per bushel as investors awaited the agriculture report, indicating a sense of caution in the market.
• Anticipation of minimal variation in total corn acreage compared to last year's high suggests stability in the supply side, potentially supporting prices.
• The lowered output forecast by a major corn-producing country and concerns over weather conditions in other key producing countries may have contributed to the bullish sentiment by raising supply concerns and potential crop damage, respectively.
• Overall, the combination of these factors likely led to the bullish movement in the corn market today.

14.04.2024 - CORN Commodity was up 5.0%

• The bullish movement in corn prices was primarily driven by indications of lower-than-expected ending stocks for the 2024/25 season, both in the US and globally.
• Supply challenges in major corn-exporting countries like Argentina and Brazil, such as dry weather, stunt disease, floods, and transportation hurdles, contributed to the bullish sentiment in the market.
• Concerns about potential supply disruptions due to climate events and technical setbacks, along with the anticipation of a key report, kept traders on edge and supported the upward movement in corn futures.
• Overall, the combination of reduced ending stocks, supply challenges in key exporting countries, and technical factors led to the bullish movement in corn prices despite some slight easing in the market.

28.05.2024 - CORN Commodity was down 5.4%

• Prices of Corn plummeted to a 3-1/2-year low, suggesting a prolonged downward trajectory.
• The persistent decline in Corn prices in recent weeks and months reflects a pessimistic outlook among investors.
• Several factors, including oversupply, diminished demand, and global economic uncertainties, likely played a role in the sharp drop in Corn prices.