Industry Analysis & Industry Trends
Over the past decade, corn has become the cash crop of the 21st century. The crop's popularity has been facilitated by federal mandates for ethanol use that are designed to reduce the United States' foreign oil dependency. With rising demand, the adoption of genetic modification (GM) technology has helped farmers heighten yields. Furthermore, both domestic and global demand growth exceeded the rise in supply, resulting in price increases and improved profitability for growers. While industry revenue is expected to fall over the five years to 2019, the long-term future for corn farmers is expected to be positive, since demand is anticipated to keep growing as renewable energy targets rise each year... purchase to read more
Industry Report - Industry Products Chapter
Corn used in biofuel production
Corn farmers increasingly dedicate their land to cultivating high-value corn varieties with greater oil content, for use in biofuel production. Corn used in biofuel production accounts for about 43.5% of revenue. This segment increased significantly since the enactment of the Energy Policy Act of 2005 and the Energy Independence and Security Act of 2007 because selling to ethanol producers is far more lucrative. By comparison, only 36.3% of the domestically harvested corn was used in ethanol production in 2009.
Corn used in livestock feed
Livestock feed is expected to account for about 45.4% of production... purchase to read more