Changes In The World Corn Market In The Last 10 Years

Posted by Nogger - a legend in his own mind at 12:41 | Categorized as

18/10/13 -- Further to yesterday's report on how large of a shift away from US dominance of the global grain markets have we seen over the last ten years for wheat, here's the same information relating to corn.

One of the most striking things to note is that whilst the US share of world production has fallen a little from 41% to 37% in the last ten years, America's share of world trade has halved from 62% to 31%.

This is largely due to a threefold increase in exports from Brazil in percentage terms, and a 425% hike in volume terms, even though their share of world production has only increased by one percentage point between 2003/04 and 2013/14. Ukraine meanwhile has seen it's production more than treble, with exports rising from a negligible 1 MMT ten years ago to 18 MMT this season.

Changes In World Corn Production And Trade 2003/04 vs. 2013/14:

Corn
Production
Exports
(MMT)
'03/04
'13/14
Change
'03/04
'13/14
Change
World
628
957
+52%
77
105
+36%
US
256
352
+38%
48
33
-31%
% of World
41%
37%
62%
31%
Brazil
42
72
+71%
4
21
+425%
% of World
7%
8%
5%
20%
Argentina
15
26
+73%
11
16
+45%
% of World
2%
3%
14%
15%
Ukraine
7
29
+314%
1
18
+1700%
% of World
1%
3%
1%
17%