Argentina, Brazil, and Ukraine are capturing the growth in global corn trade
The United States is the world’s largest exporter of corn, and its exports have exceeded other countries in all years on record except for 2012, a year of severe drought conditions in the Midwest. In 2018, U.S. exports were nearly three times that of any of the closest U.S. competitors: Argentina, Brazil, and Ukraine. Although the United States is likely to remain the leading corn exporter for years to come, little of the global growth in corn trade since 2010 can be attributed to the United States, compared to the gains of its closest competitors. Collectively, Argentina, Brazil, and Ukraine have nearly tripled their exports, growing from 30 million tons in 2010 to over 86 million in 2018. In contrast, U.S. exports grew from 47 million tons in 2010 to 62 million in 2018, an increase of 34 percent. From 2010 to 2018, global corn trade increased from 92 million tons to 167 million, an increase of 75 million tons. Of that 75 million, 80 percent of the gains can be attributed to Argentina, Brazil, and Ukraine while the remaining 20 percent came from the United States. This chart appears in the ERS Feed Outlook newsletter, released in February 2019.
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