Corn is the most demanded grain in the world and is among the fastest-growing in yearly volume. Nowadays, the annual corn production and demand surpasses 1 billion1 metric tons. Corn has surpassed rice and wheat in annual volume by more than 25%. Corn on the cob is used as a vegetable, and the mature kernels for production of animal feedstuffs (see Chapter 23), for the manufacturing of an array of human food (see Chapters 16 and 17), and for other industrial products including biofuels (see Chapter 22). About 17% of the current worldwide corn production is bioconverted into fuel ethanol mainly in the United States, which utilizes 56% of its corn. Industrially, technological progress has been made both in the separation of grain and chemical components as well as in the development of products that use these milled fractions. The value of this cereal grain cannot be understated because corn has become one of the most relevant commodities for humankind. The approximately 1 billion metric tons of corn are transformed into products that reach consumers in different ways. All processes, institutions, economic agents, and resources advocated to deliver corn and its products from producers to consumers integrate the markets of corn. These markets are in constant evolution and are constantly improving in productivity, efficiency, and marketing costs. Survival of the fittest prevails among economic agents and markets demand specialized firms and professionals in almost all specialties. This chapter presents the economics of production, marketing, and utilization2 of corn and highlights the USA corn industry because it is the country with the best industrial development such that the per capita annual utilization is comparatively seven times greater compared to the world's and 48 times compared to India. This gap in per capita utilization shows a potential growth in the world's demand and justifies why the demand pace is twice the population growth. Corn is relevant for food security and agriculture policy in all countries.

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