Corn
The largest US crop, feeding livestock, ethanol plants, and export customers.
Overview
World production runs near 1.2 billion tonnes, the US the top grower and exporter at some 350 million tonnes, Brazil second on its winter safrinha crop, Argentina and Ukraine following. Uses split feed roughly half globally, ethanol taking about a third of the US crop, starch and sweeteners, and exports. Chicago futures trade 5,000 bushels, and July December spreads track the Midwest cycle. USDA planting intentions, June acreage, and quarterly stocks reports move the market in limit moves, and drought years such as 2012, when prices neared 8 dollars a bushel, mark generations of farmers. The corn soybean rotation anchors US Midwest agronomy.
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