# Corn Closes Up 6¢ | Tuesday, Dec. 31, 2024

> US grain futures closed higher on December 31, 2024, with corn up 6 cents to its highest level since June, soybeans up 16 to 18 cents and wheat up 2 to 4 cents. Dry weather and forecasts of hot, dry conditions in Argentina and southern Brazil drew speculative and global buying.

- Date: 2024-12-31 · published 2024-12-31T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/27100-corn-closes-up-6-tuesday-dec-31-2024
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Dryness in South American crop areas raises the risk of supply shortfalls for feed grains and meal, supporting US corn and soybean prices and feed costs.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-05-20 | [Wheat Closes up 38¢ \| Monday, May 20, 2024](https://feedsoft.ai/events/4596-wheat-closes-up-38-monday-may-20-2024.md) | +1.9% | +5.4% |
| CORN | 2025-03-19 | [2024/25 Brazil Safrinha Corn 97% Planted; Window Now Closed](https://feedsoft.ai/events/13505-2024-25-brazil-safrinha-corn-97-planted-window-now-closed.md) | -2.4% | +1.9% |
| CORN | 2023-12-26 | [Brazil Forecasts Push Grain Markets Higher \| Tuesday, December 26, 2023](https://feedsoft.ai/events/11280-brazil-forecasts-push-grain-markets-higher-tuesday-december-26-2023.md) | -0.9% | -3.8% |
| CORN | 2019-07-01 | [Milk, corn prices up in 2019 \| Idaho Farm Bureau](https://feedsoft.ai/events/4199-milk-corn-prices-up-in-2019-idaho-farm-bureau.md) | +1.3% | +0.2% |
| CORN | 2024-06-21 | [Stress and the 2024 corn and soybean crops - farmdoc](https://feedsoft.ai/events/13176-stress-and-the-2024-corn-and-soybean-crops-farmdoc.md) | -5.5% | -8.4% |
| SOY | 2024-05-20 | [Wheat Closes up 38¢ \| Monday, May 20, 2024](https://feedsoft.ai/events/4596-wheat-closes-up-38-monday-may-20-2024.md) | +1.6% | -5.7% |
| SOY | 2023-12-26 | [Brazil Forecasts Push Grain Markets Higher \| Tuesday, December 26, 2023](https://feedsoft.ai/events/11280-brazil-forecasts-push-grain-markets-higher-tuesday-december-26-2023.md) | -2.0% | -4.6% |
| SOY | 2024-06-21 | [Stress and the 2024 corn and soybean crops - farmdoc](https://feedsoft.ai/events/13176-stress-and-the-2024-corn-and-soybean-crops-farmdoc.md) | -0.3% | -5.0% |

## Sources

- agriculture.com: https://www.agriculture.com/grains-all-higher-this-morning-or-tuesday-december-31-2024-8767744

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.