4 reasons for the decline in U.S. corn exports

11/19/2012 | Agriculture.com

U.S. corn exports are declining, thanks in part to strong demand for domestic ethanol production, acreage expansion in other countries, the massive U.S. drought this year and high prices that are curbing demand, according to a report by Philip Abbott, an agricultural economist at Purdue University. "Prior to the 2007-08 food crisis and spike in commodity prices, the U.S. exported well over half the amount of corn that entered international markets. Since then, the high prices have caused the rest of the world to expand their production and become more self-sufficient," Abbott said.

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