Although corn (or maize, as it’s known throughout much of the world) is grown in nearly all 50 states, production is primarily concentrated in the northern and Midwestern states—collectively known as the U.S. Corn Belt.
Farmers in the Corn Belt grew quite a bit of corn in 2017 – enough to satisfy some pretty large markets with corn to spare! Corn prices are low right now because farmers keep growing a lot of corn and the market demand isn’t keeping up. U.S. policies about ethanol and trade are part of that impact.
For the market year September 2016 – July 2017, farmers sold Mexico 21.7 million bushels of corn for just over $6 billion. They also sold 15.8 million bushels to Japan for $5.5 billion and 8.1 million bushels to South Korea for $2.8 billion. These three countries are our largest corn importers.
Farmers are proud of the corn they grow and the economic activity they spur for our country. With these numbers, who wouldn’t be?