According to the USDA's Grain: World Markets and Trade report released on Sept. 12, the U.S. corn export market share is forecast to fall below the combined share of all foreign exporters for the first time in 40 years. The U.S. market share had historically been more than 60 percent annually, but has fallen significantly in recent years because of a confluence of events in both the United States and other major exporting countries.

The United States is still the world’s largest producer and exporter in absolute tonnage. However, smaller crops, greater domestic use--particularly for ethanol production--and tightening stocks have constrained exportable supplies of corn.

Conversely, competitors like Argentina, Brazil, and Ukraine have expanded their exportable supplies. Production in those three countries, forecast at a record for 2011/12, has nearly doubled over the past decade as both area and yields have expanded by about one-third. Exports for Argentina and Ukraine are also forecast at a record.

Read the report...