Corn Prices

Corn prices averaged USD 422 cents per bushel in October, up 0.2% from September. On 31 October, the commodity traded at USD 432 cents per bushel, up 3.9% from 30 September.

In October, average corn prices were largely unchanged from September. Due to its government shutdown, the U.S. Department of Agriculture suspended its benchmark data releases on global and domestic production estimates, export sales data, and market reports, leaving market players and farmers in the dark. This likely contributed to October’s uneventful price dynamics. Meanwhile, drought conditions persisted in the U.S. corn belt, which likely kept a floor under prices.