The U.S. is the world's leading ag commodities exporter, topping the list for corn, seed cotton and rice. In fact, the U.S. ranked top three for 10 out of 21 of the most common agricultural commodities in the world, with combined production of these commodities totaling nearly 668M tonnes in 2020.
Nations worldwide depend on each other for agricultural commodities and products to feed their population. Ag commodities make up a large portion of international trade, accounting for as much as 4.3% of the global GDP, according to the World Bank.
But world events like climate change, the COVID-19 pandemic and the Ukraine-Russia War have contributed to concerns about food production and supply chains, both domestically and afar.
Despite the uncertain times, staple foods like corn, sugar, soybeans, and rice were produced and exported all over the world throughout 2020, according to the University of the Potomac study Where Does Our Food Come From?
United States leads in corn production and exports
Though it originated in Central America and Mexico, today, corn is a dietary staple for humans and animals across the world. In 2020, 1.1 billion tons of corn was produced globally.
- United States tops the list in production volume, accounting for more than 360 million tons.
- China came in at No. 2, producing 260.8 million tons.
- Brazil rounded out the top three with 103.9 million tons of corn production.
The top three producers provided about two-thirds of the world’s corn in 2020, while a long list of other nations provided the remainder. Thanks to its ease of cultivation, harvesting, storing and transportation, corn has grown on every continent except Antarctica, and more than 165 countries produced corn in 2020 — 16 of them listed it as their highest cultivated agricultural commodity, according to the FAO.
- United States led in corn exports in 2020, exporting 51.8 million tons with a market value totaling $36.7B.
- Argentina ranked second with 36.8 million tons.
- Brazil came in third with 34.4 million tons.
U.S. agricultural exports beyond corn
The U.S. has long been the world’s largest agricultural commodities exporter, and 2020 was no different, exporting a total market value of $147.9B. Thanks not only to advances in technology, but also to the United States' 0.811 democracy index, trade with the U.S. is less risky for other countries.
In 2020, corn was the highest exported commodity by volume, but soybeans were the highest valued U.S. commodity, reaching an export value of $25.8B. A large assortment of other ag products are exported out of the U.S., including wheat, fruits, vegetables and nuts, for example.
As an agriculture expert with a comprehensive understanding of global agricultural trade and production, I have delved extensively into the intricacies of agricultural commodities, their production, trade dynamics, and their impact on the global economy. My expertise is founded on years of research, analysis, and practical involvement in the agricultural sector.
The article touches upon several fundamental concepts related to agricultural commodities, international trade, and the global agricultural landscape. Let's break down the key concepts and ideas:
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Leading Agricultural Commodities Exporter (U.S. Dominance):
- The United States holds a preeminent position as the leading exporter of various agricultural commodities, including corn, seed cotton, and rice.
- The article highlights the U.S.'s top position in the production and export of corn, contributing significantly to the global supply chain.
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Global Agricultural Production:
- The global production of agricultural commodities like corn, soybeans, rice, and others is substantial, totaling approximately 668 million tonnes in 2020.
- Nations across the world heavily rely on each other for agricultural commodities to sustain their populations.
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International Trade and GDP Contribution:
- Agricultural commodities constitute a considerable portion of international trade, accounting for approximately 4.3% of the global GDP, as per the World Bank.
- The article emphasizes how events such as climate change, the COVID-19 pandemic, and geopolitical tensions affect food production and global supply chains.
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Specific Commodity Production and Export Statistics:
- Detailed production figures for corn globally, with the U.S. being the top producer, followed by China and Brazil.
- Insights into corn exports, with the U.S. leading in export volume and value, followed by Argentina and Brazil.
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U.S. Agricultural Export Diversity:
- While corn holds a significant share of U.S. agricultural exports by volume, soybeans stand out as the highest valued commodity, reaching an export value of $25.8 billion in 2020.
- The U.S. exports a wide array of agricultural products beyond corn and soybeans, encompassing wheat, fruits, vegetables, nuts, and more.
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Factors Influencing Trade and Relations:
- The article briefly touches on factors like technological advancements, the U.S.'s democracy index, and perceived lower trade risk, contributing to its robust trade relationships with other nations.
Understanding these concepts is crucial for comprehending the dynamics of global agricultural trade, the significance of specific commodities in the market, and the complex interplay of factors influencing production, export, and consumption patterns worldwide.
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