Corn prices averaged USD 481 cents per bushel in September, 1.0% higher than August’s price but down 28.9% year on year. On 29 September, the spot price was USD 477 cents per bushel, up 3.4% month on month. Supply concerns have aided corn prices in recent weeks.
Corn prices were likely boosted over the last month by data showing that U.S. corn stocks on 1 September were lower than markets had expected. Moreover, there were concerns over the impact of recent hot weather in the U.S.: Data from the Department of Agriculture shows a notable decline in crop quality since mid-August. In other news, in early October, Ukraine, Poland and Lithuania reached a deal that should speed up the export of Ukrainian grain from a Lithuanian port, which could put downward pressure on corn prices going forward.
Corn CBOT (prices in US¢/bu, aop)
Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
---|---|---|---|---|---|---|---|---|
Corn CBOT | - | - | - | - | - | 776 | 638 | 670 |