# Rising crude prices supportive to corn market - Brownfield Ag News

> Kluis Commodity Advisors' Al Kluis says crude oil near $68 per barrel supports corn, since crude leads gasoline and ethanol prices, and cites roughly 80 percent correlation between crude and corn. He sees new-crop corn targets of $4.18 to $4.38 per bushel.

- Date: 2018-04-27 · published 2018-04-27T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/65539-rising-crude-prices-supportive-to-corn-market-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude lifts ethanol economics and supports corn demand, which tends to firm feed corn prices.

## Read by commodity

- WTI: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-09-12 | [Brazilian market has firm prices and new area cut in the summer corn crop](https://feedsoft.ai/events/13549-brazilian-market-has-firm-prices-and-new-area-cut-in-the-summer-corn-crop.md) | +4.9% | +5.1% |
| CORN | 2020-01-27 | [Due to oil prices on the world market, the prices of all commodities are rising – Lider Media](https://feedsoft.ai/events/55169-due-to-oil-prices-on-the-world-market-the-prices-of-all-commodities-are-rising.md) | -1.2% | -1.8% |
| CORN | 2023-12-26 | [Stong start for wheat following the long holiday weekend - Brownfield Ag News](https://feedsoft.ai/events/11287-stong-start-for-wheat-following-the-long-holiday-weekend-brownfield-ag-news.md) | -0.9% | -3.8% |
| CORN | 2026-10-29 | [CoBank: value-added chicken products driving growth in U.S. poultry industry - Brownfield Ag News](https://feedsoft.ai/events/2143-cobank-value-added-chicken-products-driving-growth-in-u-s-poultry-industry.md) | -1.5% | — |
| CORN | 2021-10-22 | [Fertiliser market price rise: wait or buy now?](https://feedsoft.ai/events/44888-fertiliser-market-price-rise-wait-or-buy-now.md) | +3.5% | +10.0% |
| WTI | 2019-01-04 | [Dollar cycle may be about to turn, supporting oil prices: Kemp](https://feedsoft.ai/events/61292-dollar-cycle-may-be-about-to-turn-supporting-oil-prices-kemp.md) | +11.7% | +14.6% |
| WTI | 2020-01-27 | [Due to oil prices on the world market, the prices of all commodities are rising – Lider Media](https://feedsoft.ai/events/55169-due-to-oil-prices-on-the-world-market-the-prices-of-all-commodities-are-rising.md) | -4.7% | -5.1% |
| WTI | 2018-09-18 | [Rupee closes at new all-time low as crude prices rise](https://feedsoft.ai/events/63323-rupee-closes-at-new-all-time-low-as-crude-prices-rise.md) | +5.8% | +4.3% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/rising-crude-prices-supportive-to-corn-market/

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