Corn is the most-produced grain globally and a versatile commodity used for animal feed (~36%), ethanol production (~34%), food products, and industrial starch. Traded on the Chicago Board of Trade (CBOT).

Why It Matters

Corn is foundational to the global food supply chain. As the primary feed grain, it directly affects meat, poultry, and dairy prices. Corn-based ethanol also links it to energy markets—roughly a third of U.S. corn goes to ethanol.

Key Price Drivers

U.S. Midwest weather (planting/growing season), USDA crop reports, ethanol policy, Chinese import demand, and Brazil/Argentina competition.

Market Impact

Corn price spikes raise food inflation globally, particularly in emerging markets. Corn is a key input in the "food vs. fuel" debate regarding biofuel mandates.