-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VyBbEcgt3CBW1C0tnLrV8wMlGbEUQs7gsRSkIgaLOe6FkDSJX5+TsCrfP6TsaoHt
 nQPiPcqkTM8Xm0TySebBGw==

<SEC-DOCUMENT>0000100885-04-000170.txt : 20040706
<SEC-HEADER>0000100885-04-000170.hdr.sgml : 20040705
<ACCEPTANCE-DATETIME>20040706141940
ACCESSION NUMBER:		0000100885-04-000170
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040701
FILED AS OF DATE:		20040706

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HOPE RICHARDS JUDITH
		CENTRAL INDEX KEY:			0001227314

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06075
		FILM NUMBER:		04902124

	MAIL ADDRESS:	
		STREET 1:		UNION PACIFIC CORP
		STREET 2:		1416 DODGE ST
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68179

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNION PACIFIC CORP
		CENTRAL INDEX KEY:			0000100885
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROADS, LINE-HAUL OPERATING [4011]
		IRS NUMBER:				132626465
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1416 DODGE STREET
		STREET 2:		ROOM 830
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68179
		BUSINESS PHONE:		402 271 5213

	MAIL ADDRESS:	
		STREET 1:		1416 DODGE STREET
		STREET 2:		ROOM 830
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68179
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgardoc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-07-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000100885</issuerCik>
        <issuerName>UNION PACIFIC CORP</issuerName>
        <issuerTradingSymbol>UNP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001227314</rptOwnerCik>
            <rptOwnerName>HOPE RICHARDS JUDITH</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>PAUL HASTINGS JANOFSKY &amp; WALKER</rptOwnerStreet1>
            <rptOwnerStreet2>1299 PENNSYLVANIA AVENUE NW</rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20004</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Phantom Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-07-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>216</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>216</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5150</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Distribution ratio for Phantom Stock Units is 1:1.  End of period holdings include Phantom Stock Units granted prior to 8/15/96 which are exempt from Section 16 reporting.</footnote>
        <footnote id="F2">Phantom Stock Units are payable in cash only commencing at retirement.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>By: Laura A. Heisterkamp, Attorney-in-Fact  For: Judith R. Hope</signatureName>
        <signatureDate>2004-07-06</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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