The Corn market is currently in a state of oversupply with rapidly falling prices. Wet milling of corn also yields several types of end-products such as starch, polyols and others which find application in many industries.
AI-powered self-service platform for all your sourcing decision needs across 1,600+ categories llike Corn.
Market Data, Sourcing & Supplier Intelligence, and Price & Cost Benchmarking.
Russia sets corn export taxJuly 04, 2022
Harvest pace picks up in BrazilJuly 05, 2022
Kenya waives off corn import dutyJuly 06, 2022
Become a Beroe LiVE.Ai™ Subscriber to receive proactive alerts on Corn
Corn Market Monitoring Dashboard
Understand the correlation between costs, margins, and prices impacting your category on a real time basis on Beroe LiVE.Ai™
Corn Industry Benchmarks
The average annual savings achieved in Corn category is 4.00%
The industry average payment terms in Corn category for the current quarter is 95.0 days
Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™
Category Strategy and Flexibility
Price per Unit Competitiveness
Minimum Order Quality
The World’s first Digital Market Analyst
The World’s first Digital Market Analyst
Abi, the AI-powered digital assistant brings together data, insights, and intelligence for faster answers to sourcing questions
Find the right-fit corn supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.
Use the Corn market, supplier and price information for category strategy creation and Quaterly Business Reviews (QRBs)
Corn market frequently asked questions
The global supply of corn during 2019-2020 reached 1163 metric million tons (MMT), while the consumption pegged 1140.4 MMT. This trend is driven by tremendous production in developed regions and rising demand from the feed and citric acid industries.
As per Beroe’s study, the US and China collectively account for over half of the global corn consumption, owing to the high concentration of corn starch and corn processing industries.
Corn starch finds use in producing sweeteners and sorbitol, which is a crucial ingredient in vitamin C. Further, the global sorbitol market will grow at a 3.6% CAGR. In comparison, the corn starch market will rise by around 5% CAGR over the years ahead.
The global corn market is receiving major impetus from the increasing demand from the feed (by 0.8%) and corn processing industries (by 2.1%). Furthermore, the rapid shift toward biofuels is adding another leg of growth.
The US and Brazil collectively make up for around 60% of the overall corn exports, followed by Argentina (16%), Ukraine (13%), and Russia (3.4%).
The COVID-19 pandemic has led to surplus supplies in the US along with reduced demand from the animal feed sector, especially from China, which will hit the corn prices. In addition, corn stocks are expected to hit record levels. Furthermore, the declining demand from the domestic feed industry will fuel a downtrend in corn prices. As such, end-users prefer spot buying.
Corn market report transcript
Global Market Outlook on Corn
- Global production in 2019–2020 is forecasted to reach 1,163 MMT
- The key factors driving the growth include consecutive record production in the U.S. and demand from end-use segments, such as citric acid market and feed industry in China
- With respect to corn processing end uses, the global sorbitol market is set to rise by a CAGR of 3.6 percent, while the corn starch market could rise by a CAGR of 4.8 percent in the coming years. This is driving the increase in corn demand for the US and China
- Corn prices are expected to scale down in the current season, owing to the entry of harvest crops. Thus, large buyers, could choose spot buying until December to achieve cost benefits and enter into contract post November
- Prices could trend upward by approximately 2-4 percent, owing to the increasing FSI use of corn, which is projected to rise by approximately 2 MMT in 2018 – 2019 compared to the previous marketing year
Global Supply–Demand Analysis
- The global production has risen by approx. 23 percent over a five-year period as a response to the rise in demand by approx.18.5 percent during the same period
- The major drivers of demand and supply are the end-use industries, such as corn starch and animal feed, which influences the price trend
- Over a five-year period, the global corn demand has risen by approx. 8.4 percent, chiefly driven by ethanol production and feed demand
- The US and China are the top consumers because end-use segments are mainly concentrated in these countries
- With respect to the corn processing end-use segments, the global sorbitol market is set to rise by a CAGR of 3.6 percent, while the corn starch market could rise by a CAGR of 4.8 percent in the coming years. This is driving the increase in corn demand for the US and China
Global Corn Trade Dynamics
- LATAM countries have traditionally been competitors of the US for exports, but the US is projected to increase its market share close to 34 percent, in 2017/2018, which would be nearly double that of the market share of LATAM
- Exports from the US is expected to witness a downward trend in 2018, owing to the trade war and positive outlook for Brazil in the international market
Corn Starch Supply–Demand Analysis
- It is estimated that ~62.2 MMT of corn starch was produced in 2017. The major regions for corn starch production and the potential suppliers are the US, China, certain regions in the EU, and Asia (other than China). The global corn starch market is expected to grow, staggering by 4.85 percent in the forecast period
- The global starch production was ~85 MMT as of 2017. Out of this, 53 percent is used for starch sweeteners, 11 percent goes into modified starches and 36 percent into native starches. of which, 68 percent and ~50 percent are corn-based, respectively.
- Corn starch is used in the manufacture of sweeteners and sorbitol. China is a major player in the sorbitol market, which, in turn, facilitates the manufacture of Vitamin C. Corn starch is thus important for the country
- The US and China are the major producers of corn starch, holding about 30 percent and 28 percent of the global share, respectively. The US-based global companies, such as Cargill, Roquette, and ADM, among others, possess nearly 70 percent of the sorbitol market, and thus utilize corn starch
- Therefore, the key regions to focus on for the suppliers are the US, China, as well as major producing countries in the EU, and parts of Asia, other than China