<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:ns2="http://www.sec.gov/edgar/common">
    <headerData>
        <submissionType>144</submissionType>
        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001749673</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>



        </filerInfo>
    </headerData>
    <formData>
        <issuerInfo>
            <issuerCik>0000100885</issuerCik>
            <issuerName>UNION PACIFIC CORPORATION</issuerName>
            <secFileNumber>001-06075</secFileNumber>
            <issuerAddress>
                <ns2:street1>1400 Douglas Street</ns2:street1>
                <ns2:city>Omaha</ns2:city>
                <ns2:stateOrCountry>NE</ns2:stateOrCountry>
                <ns2:zipCode>68179</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>(402) 544-5000</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>KENYATTA G ROCKER</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>E*TRADE FINANCIAL CORPORATION</name>
                <address>
                    <ns2:street1>3 EDISON DRIVE</ns2:street1>
                    <ns2:city>ALPHARETTA</ns2:city>
                    <ns2:stateOrCountry>GA</ns2:stateOrCountry>
                    <ns2:zipCode>30005</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>8700</noOfUnitsSold>
            <aggregateMarketValue>1935097.54</aggregateMarketValue>
            <noOfUnitsOutstanding>609456215</noOfUnitsOutstanding>
            <approxSaleDate>08/23/2023</approxSaleDate>
            <securitiesExchangeName>NYSE</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>02/09/2023</acquiredDate>
            <natureOfAcquisitionTransaction>Performance Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>1682</amountOfSecuritiesAcquired>
            <paymentDate>02/09/2023</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>08/26/2022</acquiredDate>
            <natureOfAcquisitionTransaction>Exercised Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>2838</amountOfSecuritiesAcquired>
            <paymentDate>08/26/2022</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>08/23/2023</acquiredDate>
            <natureOfAcquisitionTransaction>Stock Option Exercise</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>4180</amountOfSecuritiesAcquired>
            <paymentDate>08/23/2023</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>08/23/2023</noticeDate>
            <planAdoptionDates>
                <planAdoptionDate>05/22/2023</planAdoptionDate>
            </planAdoptionDates>
            <signature>/s/ Kenny G Rocker</signature>
        </noticeSignature>
    </formData>
</edgarSubmission>
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144
0001749673
XXXXXXXX
LIVE
0000100885
UNION PACIFIC CORPORATION
001-06075
1400 Douglas Street
Omaha
NE
68179
(402) 544-5000
KENYATTA G ROCKER
Officer
Common
E*TRADE FINANCIAL CORPORATION
3 EDISON DRIVE
ALPHARETTA
GA
30005
8700
1935097.54
609456215
08/23/2023
NYSE
COMMON
02/09/2023
Performance Shares
ISSUER
N
1682
02/09/2023
Not Applicable
COMMON
08/26/2022
Exercised Shares
ISSUER
N
2838
08/26/2022
Cash
COMMON
08/23/2023
Stock Option Exercise
ISSUER
N
4180
08/23/2023
Cash
Y
08/23/2023
05/22/2023
/s/ Kenny G Rocker