Corn futures skyrocketed to a 16-month high of $4.32 per bushel in December, almost doubling its value from a 4-year low touched in August, as dwindling stockpiles in China forced the country to import large quantities of foreign corn, mainly from the United States. The latest report from USDA showed corn exports jumped 40% above the prior four-week average and beating all trade expectations.
Historically, Corn reached an all time high of 843.75 in August of 2012. Corn - data, forecasts, historical chart - was last updated on December of 2020.
Corn is expected to trade at 418.47 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 367.47 in 12 months time.