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Historical Corn Futures Price Charts From 1960 to 2001

Historical corn futures price charts will show that corn prices are subject to weather conditions, availability of land, labor, and normal supply and demand parameters in line with other agriculturally based commodities.

An annual corn futures chart will usually coincide with the corn planting cycle with prices rising during times of supply uncertainty and falling (predominantly in July and September) when supplies are confirmed and entering into harvest seasons.

Corn Leads Agricultural Crop In Production Volume

In terms of production volume amount, corn, or maize, has been the leading agricultural crop of the past decade. The cultivation of corn dates back centuries to the Central American Mayans and Native Americans. Production of corn is now a global matter, with cornfields throughout the Americas, Europe, Asia and Africa.

The United States is responsible for roughly 40% of global production, with China, Brazil, Mexico and Indonesia rounding out the top five. 80% of American grown corn is sown and harvested in five states: Iowa, Illinois, Nebraska, Minnesota, and Indiana.

Corn Used In Wide Variety Of Foods

Corn has a variety of uses. It is a staple food for human consumption, being a standalone vegetable as well as a primary component of corn meal and flour for baking breads, tortillas, polenta, et al. and as a cereal base. Corn is also used for making cooking oil and for manufacturing starch.

Other food related products include beer, bourbon whiskey, corn syrup (an industry wide sweetener in food processing), livestock feed, and commercially marketed dog food.

Corn Futures Price And Oil Futures Price Correlation

As a bio fuel, corn is a chief ingredient in ethanol, which has become a primary gasoline additive fuel for vehicles. In addition, corn is also used as a fuel source for biomass gasification. Ethanol proliferation has become so institutionalized that oil and corn futures prices now have been linked by many traders and analysts.

Corn Used In Industrial Applications

Important, but less prevalent applications for corn are in the manufacture of adhesives, plastics, fabrics, chemicals, and to a lesser extent, as a component for the biotech and alternative medicine industries.

Examining Historical Corn Futures Price Charts

There are three grades of deliverable corn under futures contracts. Number 2 Yellow corn delivers at contract price, whereas Number 1 Yellow is at a premium and Number 3 Yellow is at a discount.

Ethanol And Chinese Factors Driven Up Demand Of Corn

On a macro corn futures price chart, the political motivations and government subsidies behind the ethanol industry has had a profound effect on corn futures prices in the last decade. Ethanol’s proportion of US corn output has increased from 22% to 36%, and it has driven up overall demand for corn as well as the cost of wheat and other foods, which were often replaced by corn as crops of choice.

Chinese demand has also increased, as China’s standard of living has improved in the past decade, which has raised beef consumption. Additional demand for corn based livestock feed exports have subsequently contributed to this demand surge.

Economic Downturn Driving Corn Price Down

The recent economic downturn of quarter 3-4 in 2011 has caused global commodity prices to ease somewhat due to economic fears, but the level of consumption has not leveled off appreciably and should revive prices in future months. Traders should bear these events in mind as they may exaggerate usual cyclic trends as well as create anomalies.

Standard Corn Futures Contract
Symbol   ZC
Per Contract Size   5,000 bushels
Price Quotation   Cents per bushel
Minimum Price Fluctuation   1/4 of one cent per bushel ($12.50 per contract)
Termination of Trading   Trading terminates on the 15th calendar day of the contract month.
Mini Corn Futures Contract
Symbol   XC
Per Contract Size   1,000 bushels
Price Quotation   Cents per bushel
Minimum Price Fluctuation   1/8 cent per bushel ($1.25 per contract)
Termination of Trading   Trading terminates on the 15th calendar day of the contract month.

Study the Historical Corn Futures Price Charts

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Through studying the historical corn futures price charts, and understanding of the various factors affecting the movement of corn prices, the futures trader can devise a trading system to profit from these information.

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