U.S. corn futures pressured as OPEC+ unveils plans to boost production
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 05 2025
0mins
Source: SeekingAlpha
Corn and Grain Market Impact: Corn prices fell on the Chicago Board of Trade following OPEC+'s announcement to increase oil production, which negatively affected crude oil prices and subsequently impacted corn and soybean markets due to their link with ethanol use in gasoline.
Market Positioning and USDA Expectations: Analysts noted a significant increase in short positions among money managers in CBOT wheat futures, while expectations of U.S. farmers making progress in crop planting added pressure to grain futures, leading to declines in corn, wheat, and soybean prices.
Analyst Views on CORN
Wall Street analysts forecast CORN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CORN is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 17.190
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Current: 17.190
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
