Comparison among corn and crude oil prices

This page compares, in the given period, prices for Corn and Crude Oil .

Note:

The increase in oil prices has made the search for alternative energy resources more urgent, and corn and other agricultural products (for example oilseeds) have developed as a primary source for the production of bio-fuels*.

The trend of corn prices in return influences also the livestock and dairy sectors, in particular driving up milk production costs and contributing to the trend in the farm-gate price of milk.

* Particular attention should be given to the debate on bio-fuels where different streams of thought can be distinguished:
  -  on the one hand, the research on bio-fuels could be a possible answer to both the increase in oil prices and the on-going depletion of this energy source , as well as the need to limit the emission of CO2 in the atmosphere, which is responsible for the greenhouse effect and global warming. In this context, the growing of more green plants would actually favour the release of more oxygen and reduce pollution;
  -  on the other hand, this new approach is facing a series of criticisms from an ethical point of view related to the concern about "breaking the food pact between the earth and the mankind" and making the access to food for those who live in a situation of endemic hunger even more difficult.

Month 2020 2021 2022 ± on prev.
month.
± 2021
January 3,79 4,24 5,57 +1,83% +31,37%
February 3,78 4,75 6,10 +9,52% +28,42%
March 3,68 4,89 6,56 +7,54% +34,15%
April 3,29 5,31 (p)7,08 +7,93% +33,33%
May 3,20 5,91  
June 3,16 6,00  
July 3,21 6,12  
August 3,12 6,32  
September 3,40 5,47  
October 3,61 5,02  
November 3,79 5,27  
December 3,97 5,47  
Average 3,50 5,40 6,33
Change¹ % -6,71% +54,21% +31,89%
Last Update: 01-06-2022
1) Change % from the same period of previous year
*: 1 bushel (corn)= 56 lb = 25,401 kg
(p) = provisional value
Source: USDA AMS Dairy Markets News
Consult the CME Group Chicago Corn prices
 
Month 2020 2021 2022 ± on prev.
month.
± 2021
January 64,16 53,98 86,21 +16,00% +59,70%
February 55,70 62,26 96,59 +12,04% +55,15%
March 33,51 65,68 117,48 +21,62% +78,87%
April 18,87 64,50 105,93 -9,83% +64,23%
May 27,29 68,56 112,10 +5,82% +63,51%
June 40,13 72,66 125,76 +12,19% +73,07%
July 43,11 75,23  
August 44,74 70,61  
September 41,04 73,62  
October 40,26 82,68  
November 42,49 81,94  
December 49,70 74,32  
Average 41,75 70,50 107,34
Change¹ % -34,99% +68,87% +66,15%
Last Update: 16-06-2022
1) Change % from the same period of previous year
*: 1 barile (barrel)= 158,98 litri
Source: U.S. Department of Energy, Energy Information