After two-consecutive years of record U.S. corn harvests, prices continue to head down.
Corn is the biggest U.S. crop, followed by soybeans, hay and wheat. It has the largest planted crop area (90.6 million acres) in the country.
U.S. Planted Crop Areas
The U.S. is not only the world’s largest producer of corn, it is also both its largest exporter and largest consumer.
World Corn Production – 2014/15 (February) (‘000 Metric Tonnes)
Source: USDA, FAS Grain: World Markets and Trade, Feb. 10, 2015