Corn Price Today

Corn futures trade on the Chicago Board of Trade (CBOT) under the ticker symbol ZC. The standard contract represents 5,000 bushels and is quoted in cents per bushel. Active contract months include March (ZCH), May (ZCK), July (ZCN), September (ZCU), and December (ZCZ), with December serving as the new-crop benchmark for the marketing year that begins September 1.

Regular trading hours run from 8:30 a.m. to 1:20 p.m. Central Time during the day session, with electronic trading on CME Globex extending from 7:00 p.m. Sunday through 7:45 a.m. Friday. Most price discovery and volume occur during the day session, particularly around the open and close. On a typical trading day, nearby corn futures can move 5 to 15 cents per bushel, though USDA report days and weather-driven sessions can produce moves of 20 cents or more.

Corn prices respond to a complex mix of supply and demand signals. On the supply side, U.S. planted acreage (roughly 90 million acres in recent years), yield expectations, and global production from Brazil and Argentina drive price direction. On the demand side, ethanol production, livestock feeding, and export commitments compete for available supplies. The interplay of these factors creates the price volatility that makes active marketing essential for corn producers.

Basis is the difference between your local cash price and the corresponding CBOT futures price — calculated as cash price minus futures price. A basis of -30 under means the local elevator is bidding 30 cents below the futures price. A basis of +5 over means the cash price exceeds futures by 5 cents, which sometimes occurs at processors or ethanol plants with strong nearby demand.

Corn basis varies significantly by region, facility type, and time of year. Elevators near river terminals in Iowa and Illinois typically carry narrower basis (often -10 to -20 under) due to efficient transportation to export markets. Facilities in the Southern Plains or western regions may see basis levels of -40 to -60 under, reflecting higher freight costs and distance from major demand centers. Understanding your local basis pattern is just as important as tracking futures prices — a strong basis improvement can represent a better selling opportunity than a futures rally alone.

Basis tends to weaken (become more negative) during harvest when local supplies overwhelm handling capacity, then strengthens through spring and summer as supplies tighten. Monitoring your historical basis range helps identify when conditions favor cash sales versus when storing grain and waiting for basis improvement makes economic sense.

The USDA World Agricultural Supply and Demand Estimates (WASDE) report, published monthly, is the single most market-moving data release for corn. The report updates planted acreage estimates, yield projections, domestic usage categories, export forecasts, and ending stocks. Changes to the ending stocks figure, even by 25-50 million bushels, routinely move corn futures 5 to 10 cents on report day.

Ethanol production is the largest single demand category for U.S. corn, consuming approximately 35% of the total crop — roughly 5.0 to 5.2 billion bushels annually. Weekly ethanol production data from the EIA and monthly crush reports provide ongoing signals about the strength of industrial corn demand. Feed and residual use is the second-largest demand category, fluctuating with livestock inventories and competing feed ingredient prices.

Seasonal price patterns in corn are well-documented. Planting season in April and May often brings a weather premium as markets anticipate potential acreage and germination problems. Summer weather during pollination (late June through July) represents the highest- volatility period for corn prices. Harvest pressure typically weighs on prices from mid-September through November as the massive U.S. crop moves through the supply chain.