International Corn Price at Rp 2779.5 per Kg (Wednesday, January 31, 2024)

International corn prices for the next two-month contract are observed to be falling. Daily trading saw corn priced at USD 446.75 per bushel. Converted to Indonesian Rupiah (IDR), this is equivalent to Rp 2,779.5 per kg. This price is calculated using the Bank Indonesia exchange rate of Rp 15,800 per dollar.

Based on historical data from Yahoo Finance, the Katadata Insight Center (KIC) calculates that the average corn price over the last week was USD 447.18 per bushel. This average price is higher than the previous week's USD 444.93 per bushel.

Meanwhile, on a monthly basis, corn prices have shown a downward trend over the past 30 days. The average corn price for January was USD 451.91 per bushel, down 4 percent compared to the previous month's price of USD 470.76 per bushel. The highest average monthly corn price in the last 12 months was recorded in February 2023.