The Corn Complex
In a good year the U.S. corn crop comes in at 13 billion bushels, accounts for 55% of the world’s corn exports, and is worth about $60 billion. But 2012 is not a good year. As drought ravages the farm belt, production is forecast at 10.8 billion bushels, and corn has hit a historic high of $8.29 a bushel. A look at the industries that suffer from corn’s high cost.