b'CORN IS KING: U.S. Agricultural Economy at a CrossroadsWith a record corn harvest projected this year, the U.S. has an opportunity to strengthen its leadership position in corn exports but will global competition and evolving trade dynamics get in the way?By Jena Lynde-Smith, Seed World ContributorCORN TOUCHES NEARLYevery part of the U.S. econ-omyfrom the grocery store and gas station to export markets and biofuel plants. Its versatility, combined with its massive scale of production, makes corn an economic pillar that underpins the U.S. agricultural sector and its broader economy and, more specifically, the seed sector. So whats ahead?Andrew Swanson, an agricultural economist for the University of California, Davis (UC Davis), emphasizes that while the U.S. corn industry continues to dominate, emerging technologies, evolving policies and the rise of international competition offer exciting new possibilities, but also pressing challenges.We\'re looking at a possible record U.S. corn crop this year, with yields pushing over 180 bushels per acre, far beyond what we saw just a decade ago, Swanson says. That abundance is driving prices down, and now all eyes are on Brazil\'s growing season to see if it will shake up the export market."Corn\'s Role in the U.S. EconomyPast to PresentCorn is the largest crop grown in the U.S. both by acreage and total production. American producers harvest approximately 15 billion bushels from about 90 million acres, making the United States the worlds leading producer of corn and contribut- Andrew Swanson, University of California, Davis agricultural ing approximately $60 billion annually to the U.S. economy.economist.Fluctuations in corn prices can push this figure higher, with the crop\'s market value reaching closer to $75 billion when demandmore than 90% of U.S. corn acres are planted with GE seeds that is strong. Although agriculture, including all crops and livestock,are resistant to pests and herbicides. makes up only about 5% of the total U.S. economy, in states like"In the 1940s, corn genetics were nowhere near as advanced Iowa, Nebraska and Illinois, corn is an economic cornerstoneas they are today, explains Swanson. Larger, more efficient that sustains local economies and rural communities. equipment and better inputs such as fertilizers and pesticides Technological innovation has played a pivotal role in increas- have also contributed to the U.S. maintaining its lead in corn ing corn productivity over the past several decades. In the 1940s,production.corn yields averaged 30 bushels per acre. Today, they push sixCorns dominance in the U.S. agricultural sector is relatively times that, driven by advances in hybrid seed genetics, biotech- new. Historically, wheat held the title as the dominant U.S. grain nology and precision agriculture. The introduction of geneticallycrop, but a shift in agricultural policies and trade dynamics in the engineered (GE) corn varieties, first commercialized in 1996, haslatter half of the 20th century made corn and soybeans more allowed farmers to dramatically increase their output. Today,profitable. 20/ SEEDWORLD.COMDECEMBER 2024'