Corn prices rose further to pass $4 a bushel in October, the highest since August of 2019, boosted by delayed crops in Argentina e Brazil. On the demand side, China is ramping up US agricultural products under phase one trade war deal, amid crop damage and a recent selldown of state reserves. Still, Chinese Ministry of Agriculture said that the country's corn annual output was set to increase.
Historically, Corn reached an all time high of 843.75 in August of 2012. Corn - data, forecasts, historical chart - was last updated on October of 2020.
Corn is expected to trade at 394.77 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 346.66 in 12 months time.