Corn prices averaged USD 424 cents per bushel in November, up 1.9% from October. On 29 November, the commodity traded at USD 423 cents per bushel, up 3.0% from 31 October.
In November, markets braced for the potential impact of Donald Trump’s trade policies next year: In late November, Trump pledged to impose a 25% tariff on Mexican imports, sparking fears of weaker corn exports. Meanwhile, the USDA’s latest projections for U.S. supply and exports in 2024/25 were below market expectations.
This chart displays Corn (US¢/bu) from 2022 to 2024.
Corn CBOT (prices in US¢/bu, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Corn CBOT | 658 | 617 | 489 | 479 | 438 | 445 | 395 | - |