Corn has many applications, from livestock feed and ethanol production to high-fructose corn syrup, corn starch, and alcoholic beverages. Various factors influence corn prices, including the ethanol market, crude oil prices, Chinese demand, the US dollar’s value, and weather conditions. Major corn trading hubs like the Chicago Board of Trade (CBOT) play a significant role in determining today’s corn price per bushel. These markets react to real-time information affecting supply and demand, directly impacting corn prices.
Maize, first domesticated in Southern Mexico around 10,000 years ago, is crucial for global food security and commodity markets. Its introduction to Europe in 1492 after Christopher Columbus’s voyage was a turning point in agricultural history. Corn’s adaptability to diverse climates and regions makes it a vital global crop, with regional yields and global demand influencing today’s corn prices per bushel.
There are six main corn varieties: sweet corn, popcorn, flour corn, dent corn, flint corn, and pod corn. Each variety has unique characteristics and uses, contributing to overall supply and influencing current corn prices per bushel. Sweet corn, harvested early for its sweetness, caters to a different market than dent corn, the dominant US variety used primarily for livestock feed and ethanol.
Genetically modified (GM) corn varieties, grown in countries like the United States, Argentina, and Canada, are significant in modern agriculture. Most US corn production is concentrated in the Midwest, with planting between April and June and harvest in October or November. These seasonal factors significantly impact supply and, consequently, today’s corn prices per bushel. Weather patterns, planting conditions, and harvest yields in key growing regions all contribute to price fluctuations.