# December Corn Futures Contract Closes Below $4 for First Time Since November 2020

> December corn futures closed at $3.99 3/4 on July 31, 2024, the lowest close since November 2020 and below most farmers' breakeven levels. Ethanol output hit a record and export sales are up 37% year over year.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/29299-december-corn-futures-contract-closes-below-4-for-first-time-since-november-2020
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Corn is priced well below production costs while demand from ethanol and exports remains firm, which supports cheap feed grain for buyers but risks reduced planting or farmer holding in the future.

## Read by commodity

- CORN: bearish ▼
- DDGS: neutral

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/business-inputs/article/2024/07/31/december-corn-futures-contract-4

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