This action might not be possible to undo. Are you sure you want to continue?
Table of contest Contents
History of corn .............................................................................................................. 3 Discovery of corn ........................................................................................................ 3 Importance as food ..................................................................................................... 4 Spreading in the world ................................................................................................ 5 Modern usage in other industries ................................................................................. 6 The product information about CBOT Corn Futures contract .................................. 7 Corn production ............................................................................................................ 8 Types of corn .............................................................................................................. 8 Crops and harvest ........................................................................................................ 9 Characteristics; Role of weather, earth, fertilizers, etc.................................................. 9 Diseases .................................................................................................................... 10 Size of US and world corn production ....................................................................... 11 Storage ability ........................................................................................................... 12 Demand........................................................................................................................ 12 The end products of corn industry & industrial use .................................................... 12 Other major uses than ³food´ .................................................................................... 12 Expected trends with changing technology ................................................................ 14 Everything about ³Bio ethanol´ ................................................................................. 15 Price of corn .............................................................................................................. 18 Seasonality ............................................................................................................ 18 Most important factors .......................................................................................... 18 World production ........................................................................................................ 18 Export ± Import ......................................................................................................... 19 Size of the US market; main trade partners ................................................................ 22 Important facts about the product and industry ....................................................... 26 Industry Overview................................................................................................... 26 APPENDIX ................................................................................................................ 277
Sweet corn is harvested earlier and eaten as a vegetable rather than a grain. An American native. the story of corn began in 1492 when Columbus's men discovered this new grain in Cuba. by which it is known throughout many areas of the world. 2007 1 3 .000 years.000 years old obtained from drill cores 200 feet below Mexico City. but corn. This was the term used in the United Kingdom and Ireland. Another archeological study of the bat caves in New Mexico revealed corncobs that were 5. it was exported to Europe rather than being imported.CORN Corn is an icon of American culture. December 2007. The Oxford English Dictionary. where it is now usually called "sweet corn". Accessed December 16. Corn is perhaps the most completely domesticated of all field crops. perhaps first with gamagrass to yield teosinte and then possibly with backcrossing of teosinte to primitive maize to produce modern races. The original wild form has long been extinct. its exact birthplace is far less certain. the most common form of the plant known to people there. It could not have existed as a wild plant in its present form. 1 This moniker reflect its traditional name. the myths of different indigenous groups concur that corn was originally hidden under a mountain or an enormous rock and only the ants could The term "maize" derives from the Spanish form of the indigenous Taino word maiz for the plant. From mythology perspective. in the form of corn syrup. maize. Most historians believe corn was domesticated in the Tehuacan Valley of Mexico. There are numerous theories as to the ancestors of modern corn and many scientific articles and books have been written on the subject. "Maize". this important food plant that is native to America is thought to have originated in either Mexico or Central America. Its perpetuation for centuries has depended wholly on the care of man. For western civilization. It has been a staple food in native civilizations since primitive times with some of the earliest traces of meal made from corn dating back about 7. History of corn Discovery of corn From a scientific perspective. Not only does it represent Native American traditions and serve as a symbol of both summertime BBQ fun and a night out at the movies. Corn is known scientifically as Zea mays.600 years old by radiocarbon determination. online edition. as were other major grains. Evidence suggests that cultivated corn arose through natural crossings. is also an added ingredient in many other foods that we consume in our daily diets. Archeological evidence of corn's early presence in the western hemisphere was identified from corn pollen grain considered to be 80. Although corn is indigenous to the western hemisphere.
parrots. It has ears and can be eaten that way when grilled. corn was dropped off the back of Christ during the crucifixion. all corn was white. folate. the Popol Vuh tells us that from a mixture of white and yellow grains the current human race was formed. you are eating this. When grits are served. lice. man asked for the gods' help and. the influence of the Catholic religion was felt in the ancient tales of the origins of corn. The tremendous religious importance of corn has not been lost. god of thunder and rain. boiled or baked. in the beginning. creamed. In the Chilam Balam de Chumayel. That is why there are now black. pantothenic acid (vitamin B5). after various attempts. coyotes. According to these legends. It can be fried. After the Conquest (16th century). rats. but a lightening bolt which one of the gods hurled upon the rock to break it burned. the woodpecker's head has been red because of the wound he received from a fragment of rock. mountain cats. Our food ranking system qualified corn as a good source of many nutrients including thiamin (vitamin B1). so there are even some accounts that along with beans. vitamin C. the gods were able to remove the precious food from under the ground and made it available to all mankind. and in all variations of the myth. corn has been an important nutritional resource for thousands of years. the woodpecker appears to aide the gods. boiled and baked. It is consumed as cereal and eaten as a popped treat. the author of this feat was Chaac.reach the grains to eat them. crows. phosphorus and manganese 4 . Hominy is made from it as well as pancake syrup. Importance as food Because of its high protein and carbohydrate content. smoked or singed some of the grains. dietary fiber. It is ground into meal which is then used to make bread and tortillas. and ever since. potatoes and other food plants. It is eaten in soups and stews in addition to being consumed as a side dish. the grain still forms an integral part of Maya ceremonies. yellow and red varieties of the grain. But after learning of the grain's existence from ²depending on the version² foxes. a book of sacred stories. In addition. magpies or other animals.
7 mg. Fat ± 1. Calcium ± 9 mg.it can also cause allergy. Magnesium ± 37 mg.7 gm. anaphylaxis.5 mg. Folate ± 46 mg. Vitamin B ± 15 mg. The principal role of the corn plant during the 19th century was closely tied to the development of the Midwest. Iron ± 0. It extended westward to the middle of Kansas and Nebraska. Carbohydrates ± 9 gm. Vitamin C ± 7 mg and Energy ± 90 kcal (360kJ). and an important lobe of the Mexican area extended northward to Arizona. In the movement westward. Dietary fiber ± 2. 5 . as follows. corn is packed with nutrition. The great variability of the corn plant led to the selection of numerous widely adapted varieties which hardly resembled one another. The plant may have ranged from no more than a couple of feet tall to over 20 feet. Niacin ± 1. diarrhea. For the Aztecs.2 gm. Incas and various Pueblo dwellers of the southwestern United States. The allergic reaction can cause skin rash. Sugars ± 3. It is unclear how common this allergy is in the general population. New Mexico and southern Colorado. an indigestible protein that survives cooking. vomiting. very good.Even corn is so packed with nutrition.2 gm.2 gm. in severe cases. Lawrence Valley southward to northern Argentina and Chile. swelling or itching of mucous membranes. It was not like the uniform sized plant that most people know today.2 Spreading in the world Corn was the most important cultivated plant in ancient times in America. asthma and. Early North American expeditions show that the corn-growing area extended from southern North Dakota and both sides of the lower St. So. This protein has been linked to a rare and understudied allergy to maize in humans. Phosphorus ± 120 mg. or excellent source according to our Food Rating System. Vitamin A ± 10 mg. Protein ± 3. Mayas. It was also an important crop in the high valleys of the Andes in South America.This chart graphically details the %DV that a serving of Corn provides for each of the nutrients of which it is a good. corn growing took precedence over all other activities. Potassium ± 270 mg. corn found its major home in 2 Maize contains lipid transfer protein.
Approximately 130.the woodland clearings and grasslands of Ohio. and adjacent states. while others report that it was not returned to Spain until the second visit of Columbus. rayon. Corn in England means wheat.500 ways for using corn. fish or meat. It was consumed both as a vegetable and as a grain in the form of cornmeal seasoned and eaten as an accompaniment to vegetables. insecticides. In some countries. Corn in the United States is also called maize or Indian corn. there is some uncertainty as to when corn first went to Europe. Some say it went back with Columbus to Spain.000 p=-metric tons of corn is exported annually to provide nourishment for the worlds starving population. By 1575. it was making its way into western China. It is doubtful that any other plant has been studied as extensively as has the corn plant. paint. Some industrial uses of corn include filler for plastics. Italy. The word "corn" has many different meanings depending on what country you are in. soaps. and had become important in the Philippines and the East Indies Modern usage in other industries In fact. they found corn growing throughout the Americas. Corn also is used as the major study plant for many academic disciplines such as genetics. physiology. organic acids. Its obvious use is food and food products such as cereal. What is astonishing is that corn is also now being used as 6 . blue. insulating materials. it spread throughout France. Iowa. Corn mentioned in the Bible probably refers to wheat or barley. explosives. When Christopher Columbus and other explorers came to the New World. in Scotland and Ireland. and many more. yogurt and even as a binder in energy bars. The amazing thing is that it is now being used as a renewable fuel source and even to make biodegradable plastic. chemicals. paste. Corn is used for so many different things that it can only be considered the miracle crop of the modern world. from Chile to Canada. Within a few years. and all of southeastern Europe and northern Africa. pink and black and were not only solidly colored. soil fertility and biochemistry. adhesives. but spotted or striped. packing materials. These were places where it had not been grown widely in prehistoric times. there are more than 3. pharmaceuticals. Like most early history. its use is even more versatile and is used in countless different products. The corn that was prized was not just limited to the yellow and white kernel varieties that we know. Indiana. corn was only a garden curiosity in Europe. but many other more popular varieties that featured kernels of red. abrasives. solvents. antifreeze. dyes. Illinois. When it comes to non-food products. Corn also is used in food products ranging from ice cream. Corn is by far the most versatile crop that is produced in the world. but it soon began to be recognized as a valuable food crop. it refers to oats. corn means the leading crop grown in a certain district. At first.
The purpose of the futures exchange is to allow market participants to "discover" what the price is for the product as it comes close to harvest time (futures price) and what the relationship is between a local cash market price (grain elevator) and the related CME Group futures price (basis. is in the Southern Hemisphere.the only ingredient that make the plastic containers that contain our food in supermarkets. the cups we use to drink from and even as a fiber that is soft enough to be used in clothing. One must have access to an existing CME Group membership (for example. crops.S. Farmers there plant their corn after the size of the U.S. and the rest of the world must adjust to prevailing U. providing a quick. Class B memberships in the CME Group / Chicago Board of Trade are sold on a bid / offer auction process. corn futures and options are traded and settled on the CME Group Exchange (on 12 July 2007. the secondlargest corn exporter in most years. The symbol for the electronic traded corn futures contract is "ZC". Connectivity to the system is also available through 7 . This means that corn prices are largely determined by supply-and-demand relationships in the U. crop is known. exports only account for a relatively small portion of demand for U.S. the CBOT merged with the CME under the CME Group holding company and ceased to exist as an independent entity). The symbol for the open auction corn futures contract is "C". Argentina. E-cbot is the electronic trading platform (LIFFE-CONNECT) for the CME Group / Chicago Board of Trade (CBOT). corn.S. market-oriented supply response to short U. a "weak" basis indicates a negative spread between cash and futures prices). However.S. Corn Belt. market. Milled corn is even used as a binder in polymer sinks and even rat pellets. branch offices or affiliate offices of current members) or obtain a CME / CBOT membership. This makes world corn trade and prices very dependent on weather in the U. prices. The product information about CBOT Corn Futures contract While the United States dominates world corn trade. Who uses corn futures contracts? Feed industry companies Food industry companies Ethanol industry companies CME Group / Chicago Board of Trade (CBOT) In the United States.S. or establish a business relationship with a CME Group clearing member firm in order to trade on the exchange. Trading for corn futures on the CME Group / Chicago Board of Trade (CBOT) is in both open auction and electronic trading. approximately 20%.
NYFIX. Europeans who came to the Americas in the 15th century spread the grain to the rest of the world. These types of corn all have their own special features. others are bred for taste. Which varieties to plant are not just based on taste. from the shortened original term of "Indian corn. Sweet corn is broken down into a number of different species. and 9:30am to 1:15pm Central Time (CST / CDT). Townsend Analytics. Open auction trading hours for corn futures and options are Monday through Friday.from less sweet to most sweet standard. each belonging to one of four major subdivisions. yellow corn and bi-colored corn. some of the most common include dent corn. the two most common types of cornare sweet corn and field corn. from 6:30pm to 6:00am. Corn production Types of corn A type of grass. but also on local conditions.Bloomberg. from 9:30am to 1:15pm Central Time (CST / CDT). Some are meant for higher yield. Some hold up against the weather better in windier environments. It is currently the most planted crop in the United States. 8 . For example. 7 Ticks. RTS Realtime Systems Group and Cunningham Trading System (CTS). e-cbot electronic trading hours for corn options are 6:32pm to 6:00am Central Time (CST / CDT). Rolfe & Nolan. Each variety has its advantages and disadvantages. CQG. for example. Trading Technologies. or a blend of two different kinds of corn. flint corn has a hard starch layer that protects the entire kernel. flint corn. Any of these types of corn are usually agreeable for human consumption. GL TRADE. corn grows in warm soil. Within these subdivisions. supersweet and synergistic. Ltd. but it is also grown in Mexico. While there are many varieties of field corn." Most kinds of corn grown in the United States are hybrids. Those subdivisions include . China. even sweet corn. Inc. FfastTrade. EasyScreen.. Dent corn will have dents in the crown of each kernel when it is fully ripe and beginning to dry. India and France. While there are many different types of corn. eSpeed. but called "corn" in most English-speaking countries. Corn was domesticated first in middle America and then it spread as a crop throughout the rest of the Americas. Still other choices may be made if the growing season is usually a short one. flour corn and waxy corn. Within these two main groups are many distinct and separate varieties. can develop dents if it gets too dehydrated. sugar extender. many species of corn. the types of corn are broken down into white corn.. However. and has shallow roots. E-cbot electronic trading hours for corn futures are Sunday through Friday. It is actually known as maize in many parts of the world.
Grain prices tend to fluctuate the most during the growing seasons. China (21 percent of world production) Planting: Corn is planted in mid-March through early June. Harvest: March through May. rice and wheat : area harvested. earth.Crops and harvest Corn crops around the world have their own unique production cycles of planting and harvest timeframes3. "Maize. Statistics Division (2009). Below are the window of opportunities for planting and harvesting corn crops within each country. Role of weather. Brazil (6 percent of world production) Planting: Early August through November. Harvest: Corn is mainly harvested in October and is finished by the end of November. United States (39 percent of world production) Planting: Corn crops are planted beginning in April and last into June. yield´ 9 . Ideally. There are many corn fertilizers 3 Worldwide production was 817 million tonnes in 2009²more than rice (678 million tonnes) or wheat (682 million tonnes). While corn may be able to handle light scattered frosts. Characteristics. your corn won't grow right. ³Food and Agriculture Organization of the United Nations.8. etc Corn prefers full sun and rich soil for the best growth. European Union (8 percent of world production) Planting: Mid-April through early June. When growing corn. production quantity. Harvest: February through May. fertilizers. and nor will it taste as good as it could of.0 to 6. it won't grow in as large of a quantity. Fertilizing corn is on the most essential and critical parts about growing corn. plan your planting time so that harvesting can take place before the cold season begins. Your local cooperative extension office can test your soil for you. you need to pick the right type of fertilizer. Argentina (3 percent of world production) Planting: October through November. weather and growing conditions. or you can buy pH test kits from hardware stores. Harvest: August through October. as supply expectations can shift significantly due to planted acreage. the soil pH should be 6. If you don't use the right type of fertilizer when you are growing corn. It likes hot weather and can handle dry conditions as long as they are not continual. Harvest: Mid-August through late October.
Stewart's bacterial disease and common corn rust. most important of which is soil type. These type of fertilizer will help enable your corn to germinate and mature properly. Diseases There are several diseases that are common to corn plants. wet conditions. of elemental nitrogen (N). you can always try animal manure which contains a high level of nitrogen and other good chemicals that can help plants grow. Nitrogen is very important to growing any type of crop. Under cool. There are many different kinds of leaf diseases in corn. the exact needs of your corn will depend on the type of corn you are growing. Remember not to over fertilize your corn. of potash (K2O) to produce one bushel of grain corn. If you find brown or dead spots on the leaves. It's sort of like over feeding people.4 lbs. If you can't afford a special nitrogen right fertilizer. but it probably won't cause you much problem because it usually appears after the plant is pollinated and the ear of corn is growing. there could be a problem with your soil or the seeds you purchased. Corn is resilient but. including gray leaf spot. Ensure that you give your corn the right balance by getting the right kind of nutrients to it. Starter fertilizer can be applied with the planter in a band to the side and below the seed. More is not better. Every type of soil is different and has a different chemical make up that requires different fertilizers. Leaf Diseas. without proper sun 10 . Fertilizing corn should be done on the basis of soil tests and yield goals. One of the sure signs of this corn plant disease is a failure of your corn seeds to sprout. starter fertilizer offers many advantages.out there and the right fertilizer depends on a lot of factors. seed rot and corn smut. you run the risk of overfeeding and then kill your corn seeds and plants. There is no cure for leaf disease. that is a definite indication of leaf disease. As mentioned before. If you find leaf diseases early in your corn growing. Seed Rot Seed rot is a disease of the corn plant that occurs at the very beginning of the growth of a new corn plant. The cause of this might be fungus or bacteria in the soil. it needs the proper balance of soil nutrients in order to grow well.eventually they get too fat and die. You can tell if your corn plants have leaf disease by looking at the bottom row of leaves. like growing any crop.6 lbs. If you add to much. The recommended fertilizer rate should be safely applied 2 inches to the side and 2 inches below the seed.25 lbs. A seed or a seedling is susceptible to seed rot. including various forms of leaf diseases. If there is a lot of rain after you plant. Nitrogen can be applied at anytime and soils with good nitrogen produces better crops. of phosphate (P2O5) and 1. 0. Corn requires approximately 1.
S. The U. and plow at night. Corn crop yields (measured in bushels per acre) have been steadily improving over the past 30 years due to improvements in seed varieties.9 million acres were planted. In 2008.1 billion bushels harvested from a record 93. though there is debate as to which Nahuatl words huitlacoche derived from. You can find corn smut on plants that you think are growing fairly well. Corn Smut 4 Corn smut is an issue especially in Midwestern states where storms. "Diccionario breve de mexicanismos". Wisconsin. In Mexico. pesticides. corn cultivation is a highly mechanized agricultural activity. If the problem is the weather. the word for huitlacoche is cuitlacochin. In the United States. most of the GMO corn is utilized for either animal feed or ethanol production. simply till the soil again and replant in dryer and sunnier weather. Mexico 2001.6 million acres harvested for a yield of 12. In modern Nahuatl. Size of US and world corn production The United States produces approximately 50% of the world's corn. The upgrade of agricultural equipment to GPS enabled tractors allows farmers to efficiently cover field acres on the first pass. If it is a fungus problem. Missouri. Iowa.9 bushels per acre harvested from 79.5 million acres planted) for a yield of 13. approximately 85. Kansas. Department of Agriculture (USDA) indicates that the United States had a record corn harvest in 2007 of 13. depending on the type of corn you have and the amount of corn you grow. corn reserves had hit 7. It is estimated that approximately 80% of the corn grown in the United States is from genetically modified seed stock (GMO corn).6 million acres (approximately 86.1 billion bushels (approximately 153. sometimes spelled cuitlacoche).and warmth. a 23-year high. Minnesota. In the 2009. Nebraska. Guido Gómez de Silva. Small galls usually will not wipe out your entire crop of corn. Entries for "huitlacoche" and "cuicacoche o cuiltacoche 4 11 . and South Dakota (the state of Iowa produces the largest corn crop out of the major corn growing states). the galls are covered by a whitish membrane.9 bushels per acre). and machinery. 2010. and some sources deem "cuitlacochi" to be the classical form. This word entered Spanish in Mexico from classical Nahuatl. corn smut is known as huitlacoche ([wit akot e]. wind and hail can remove immature tassels from the ears of the corn. with yield of approximately 151. Indiana. Michigan. Some GMO corn is utilized in yellow corn tortilla (snack) chips. there was a record 164. You can identify corn smut by galls or boils growing on or near the ears of the corn. 78.1 billion bushels (a national record).1 bushels per acre). Of that amount. with production on several hundred thousand farms but concentrated in the upper Midwest states of Illinois. Fondo de Cultura Económica. the seeds can rot and not sprout due to bacteria growing in the overly moist soil. you might need to have your soil tested and then add a fungus treatment.5 million acres planted (approximately 86.69 billion bushels. Ohio. while the balance is utilized for corn syrup / corn starch production. The USDA reported that as of March 1. fertilizers.5 million acres harvested.
based products. accounting for about three-quarters of total volume in recent years (coarse grains make up a common trade category that includes corn. The application of a broad range of preventive practices has a cumulative effect on pest control.and monitoring grain during storage for temperature. soybeans. controlling grain moisture throughout drying. hand sanitizers and medicines. Argentina. and the European Community. cleaning dried corn prior to storage to remove broken kernels and trash. packing materials. the market focus generally shifts to the weather and other yield influencing factors until the crop has been harvested. Examples include cleaning grain bins and the area surrounding them prior to harvest. managing the depth of grain in the bin to permit uniform airflow. Different variations of alcohol. ethanol and corn syrup are just a few of the ingredients that come from field corn and can be used or made into other corn. Demand The end products of corn industry & industrial use Most people associate the word corn with food. Canada. For example. For this reason. certain institutions are striving to expand that association by funding research for the development of new uses and communicating these uses for corn crops to consumers. which are based on an understanding of the ecology of grain pests. Storage ability The best way to protect dry stored corn from spoilage by mold and insect activity is to apply integrated pest management practices. Corn is usually grown in the same areas as. However. Corn-based products such as plastics. Ukraine. oats. household cleaning agents. controlling temperature throughout storage.Corn production in any given year is determined by two factors: acreage and yield. China. and mold and insect populations. livestock feed. 12 . and rye). Other major national producers include Australia. Brazil. biodegradable cornstarch packing peanuts are made from corn and completely dissolve when they come in contact with water. and ethanol. fibers and fabrics have been making their debut on the shelves of stores. Other major uses than food Corn-Based Products Cornstarch. After corn has been planted and acreage has been established. moisture. the expected profitability of corn relative to other crops is often a major consideration in a farmer's planting decision. sorghum. Corn is by far the largest component of global coarse-grain trade. or ethanol can be found as a main ingredient in many household cleaners. and often competes for acreage with. barley.
exciting products made from corn is envisaged. the production of their PLA uses up to 50 percent less petroleum than required by conventional plastic resins. The following is a general overview of the procedure. Research funding has also led to the development of Magic Nuudles. Each part of the corn kernel goes toward the creation of another product. When the projects are complete. After polymer production which uses the glucose.Corn syrup is a sweetener that is prevalent in soft drinks. one bushel of corn (56 lb. Also Salt. These corn-based fabrics are literally ³grown and sewn´ in America. This has become easier as the price of petroleum has risen and made the items more affordable. With all these new uses and products. One of the most exciting new opportunities for corn are corn-based polymers. the germ from the kernel is the remaining portion of corn. or they can be processed into plastics. Fermentation creates monomers. The polymer comes out in long strands that are chopped into pellets. Superiority of Plastics and Fibers Made From Corn-Based Polymers Corn-based fibers are renewable and environmentally-friendly because they are made from corn instead of petroleum. which is grown for human consumption. Corn is cooked and coarsely ground. water soluble packaging peanuts. field corn. there is little waste. Producing Corn-Based Polymers Produced Each company has a slightly different process in which they create their individual corn-based polymer. candy and other food items. it is important to create consumer awareness about new corn-based items. The amount of corn needed to produce corn-based polymers depends on the starch content of the corn. The annually-renewable. parents can just wash the peanuts down the sink. extracting the glucose. water. vitamins and minerals and put through a fermentation process. or starchiest part. This is not popcorn or sweet corn. Polymer pellets can be sent to a textile mill where they are spun into fibers which are used in fabrics for clothing or carpets. from the kernel. from corn fields to 13 . of fiber or polymer. was developed through sponsored research. biodegradable-chemical compounds that look like miniature marbles and can be used to create corn-based plastics. The glucose is then mixed with a combination of organisms. for an easy cleanup. According to the National Corn Growers Association (NCGA). Through the entire process. The monomers are then shipped to a polymer plant where they are polymerized. According to NatureWorks. The development of several new. a sodium-free salt substitute made from corn. corn gluten meal and corn gluten feed for livestock. the most common variety of corn. natural source for fabrics means not having to draw upon depleting fossil fuels. fibers and other products. The germ contains the oil used to make corn oil.4 lb. Corn-based polymers have been referred to as greenhouse gas. which are used as building blocks for children to play with. They are made from a 100 percent annually-renewable resource. It is grown mainly as livestock feed. These toys provide hours of enjoyment with their ³lick and stick´ capabilities.) provides 22.neutral polymers. Cornbased polymers are clear.
corn-based plastics. These products have many benefits. they are also compatible with all standard waste and recycling management practices.S. best and most costeffective way to achieve this is to develop technology-driven economic incentives that motivate large populations of people and companies to make incremental environmental contributions that are collectively very significant. which means they can be simply thrown away with food waste or transported to an appropriate commercial compost facility. facilitating co-product reuse. and is properly disposed of. Another benefit of corn. Importance of Corn-Based Products With environmental issues drawing much attention these days. Once corn is made into a corn-based product. and reducing the generation of wastes and emissions.the retail counter. corn-based products are more desirable to consumers. the carbon is returned to the soil as the product degrades without polluting the environment while also reducing greenhouse gas emissions. The production of NatureWorks® PLA also contributes 40 percent less greenhouse gases to the atmosphere than traditional plastic materials. GreenShift¶s patented corn oil extraction technologies enable GreenShift and its licensees to ³drill´ into the backend of first generation corn ethanol plants to tap into an existing reserve of inedible crude corn oil that has been historically trapped in the 14 . There are endless opportunities to replace petroleum-based plastics and move toward the environmentallyfriendly. Carbon dioxide is removed from the atmosphere and absorbed by the corn plant as the plant grows. including: y Biodegradable or compostable y Competitively priced y Environmentally-friendly y Equivalent function or better y Helps lessen U. Corn-based polymers are fully compostable in municipal and industrial facilities. GreenShift¶s mission is to build shareholder value by using its technologies to catalyze disruptive environmental gain. Benefits of Carbon The polymers used to make corn-based products come from an annually renewable resource. dependence on foreign oil y Made from a 100 percent renewable resource The production of corn-based products opens up a new market for corn. corn.based polymers is the fact that they are compostable. Using corn to make products creates a closed-loop carbon cycle. The figure above illustrates the complete cycle that corn goes through as it is produced into corn-based products and then returned to the earth. Expected trends with changing technology GreenShift Corporation (OTC Bulletin Board: GERS) develops and commercializes clean technologies designed to address the financial and environmental needs of its clients by decreasing raw material needs. GreenShift believes that the first. has served its purpose.
including advanced technologies such as corn oil extraction/fractionation. the EPA¶s estimate corresponds to industry-wide savings of about $160 million per year at current market prices at the 70% penetration rate projected by the EPA. This equates to 680. output of biodiesel. biojet fuel.4%.9 billion liters). and renewable diesel. use of corn oil extraction is expected to reduce lifecycle GHG emissions of corn ethanol by about 18%. mainly as a biofuel additive for gasoline. increasing ethanol plant profits. This corn oil is a valuable second generation feedstock for use in the production of advanced carbon-neutral liquid fuels.distillers grain co-product of ethanol production. It is most often used as a motor fuel. Key Highlights of EPA¶s Regulatory Impact Analysis y Reduced Carbon ± According to the EPA¶s analysis. y y y y Everything about Bio ethanol Ethanol fuel is ethanol (ethyl alcohol).000 gallons or about 5.5 million tons per year of carbon industry-wide at the EPA¶s estimated 70% penetration rate.2 billion pounds per year of inedible corn oil feedstock with a current market price of about $0. Compliance with RFS2 ± The EPA concluded that ³based on our final rulemaking analysis we have found that corn ethanol.4% due to use of corn oil extraction technology.95 billion U.S. The EPA projected reductions in thermal energy use of 5.´ projecting that ³low-grade corn oil extracted from dry mill ethanol production´ will be used in 2022 to supply feedstock for 40% of the total annual U.´ Vital New Biofuel Feedstock ± The EPA estimated corn oil will be ³a significant contributor to the biodiesel volume required by the RFS2 rule.079 per gallon of ethanol produced. accounting for 57. the highest reduction of any of the advanced technologies cited by the EPA. liquid gallons(bg) (86. the share of ethanol in global gasoline type fuel use increased from 3. reduces GHG emissions by more than the 20% threshold required for renewable fuels. removing it improves the heating efficiency and reduces the energy demand of corn ethanol.25 per pound.000. thereby enhancing total fuel production from corn.7% to 5.5 percent of global production. In 2010 worldwide ethanol fuel production reached 22. From 2007 to 2008.2 bg. or by about 4. 15 .S. the same type of alcohol found in alcoholic beverages. such as biodiesel. and reducing lifecycle greenhouse gas (GHG) emissions. Increased Profitability ± Use of corn oil extraction increases co-product revenues in addition to reducing production costs. with the United States as the top producer with 13. Reduced Energy ± Since corn oil is an insulator. World ethanol production for transport fuel tripled between 2000 and 2007 from 17 billion to more than 52 billion litres. The EPA estimated that ethanol producers using backend corn oil extraction technology can increase their profit by about $0. While GreenShift believes the energy savings are substantially greater.
potatoes. grain. Creation of ethanol starts with photosynthesis causing a feedstock. These feedstocks are processed into ethanol. sorghum. there has been considerable debate about how useful bioethanol will be in replacing gasoline. Two million tons of petroleum-derived ethanol are produced annually. sunlight. to grow. About 5% of the ethanol produced in the world in 2003 was actually a petroleum product. Ethanol is a renewable energy source because the energy is generated by using a resource. switchgrass. and the use of 10% ethanol gasoline is mandated in some U.S. stover. straw. bagasse. coal. sunflower. cassava. states and cities. which cannot be depleted. Bio-ethanol is usually obtained from the conversion of carbon based feedstock.Ethanol fuel is widely used in Brazil and in the United States. can run on blends of up to 10% ethanol. by December 2010 Brazil had a fleet of 12 million flex-fuel automobiles and light trucks and over 500 thousand flex-fuel motorcycles regularly using neat ethanol fuel (known as E100). It can also be obtained via ethylene or acetylene. sugar beet.S. other biomass. Europe. Recent developments with cellulosic ethanol production and commercialization may allay some of these concerns. 16 . corn. kenaf. Since 1976 the Brazilian government has made it mandatory to blend ethanol with gasoline. barley. and since 2007 the legal blend is around 25% ethanol and 75% gasoline (E25). and together both countries were responsible for 88 percent of the world's ethanol fuel production in 2010. sweet potatoes. Agricultural feedstocks are considered renewable because they get energy from the sun using photosynthesis. as well as many types of cellulose waste and harvestings. molasses. fruit. It can be made from very common crops such as sugar cane. potato. and other sources. The principal suppliers are plants in the United States. provided that all minerals required for growth (such as nitrogen and phosphorus) are returned to the land. cotton. such as sugar cane or corn. miscanthus. It is made by the catalytic hydration of ethylene with sulfuric acid as the catalyst. Most cars on the road today in the U. However. It is claimed the process can produce 6000 gallons per acre per year compared with 400 gallons for corn production. whichever has the best well-to-wheel assessment. from calcium carbide. hemp. and South Africa. Concerns about its production and use relate to increased food prices due to the large amount of arable land required for crops. as well as the energy and pollution balance of the whole cycle of ethanol production. An alternative process to produce bio-ethanol from algae is being developed by the company Algenol. In addition. grain sorghum. manioc and corn. Rather than grow algae and then harvest and ferment it the algae grow in sunlight and produce ethanol directly which is removed without killing the algae. oil gas. Ethanol can be produced from a variety of feedstocks such as sugar cane. Petroleum derived ethanol (synthetic ethanol) is chemically identical to bioethanol and can be differentiated only by radiocarbon dating. Bioethanol is a form of renewable energy that can be produced from agricultural feedstocks. wheat. especially from corn.
but the purity is limited to 9596% due to the formation of a low-boiling water-ethanol azeotrope. this becomes a two-phase liquid mixture. which when distilled produces anhydrous ethanol in the column bottom. called extractive distillation. which represents about 50% of the dry kernel mass. is called azeotropic distillation and consists of adding benzene or cyclohexane to the mixture. Two types of second generation processes are under development. so the water fraction is typically removed in further treatment in order to burn in combination with gasoline in gasoline engines. Enzymes are used to convert starch into sugar. dehydration. Saccharification of cellulose is called cellulolysis. the first generation processes for the production of ethanol from corn use only a small part of the corn plant: the corn kernels are taken from the corn plant and only the starch. 17 . Production process The basic steps for large scale production of ethanol are: microbial (yeast) fermentation of sugars. consists of adding a ternary component which will increase ethanol's relative volatility. Microbial fermentation will currently only work directly with sugars.4% m/m (3.5% v/v) water mixture may be used as a fuel alone.Currently.g. and can in principle be converted to sugars for fermentation. 4. When the ternary mixture is distilled. and denaturing (optional). corn) portions can be economically converted. it forms a heterogeneous azeotropic mixture in vapor-liquid-liquid equilibrium. Two major components of plants. The 95. Dehydration There are basically five dehydration processes to remove the water from an azeotropic ethanol/water mixture. Fermentation Ethanol is produced by microbial fermentation of the sugar. Brazil. starch and cellulose. water must be removed. Most of the water is removed by distillation.g. are both made up of sugars. there is much activity in the area of cellulosic ethanol. but unlike anhydrous ethanol. The first process. is transformed into ethanol. For the ethanol to be usable as a fuel. where the cellulose part of a plant is broken down to sugars and subsequently converted to ethanol. sugar cane) and starch (e. distillation. Currently. However. and a vapor mixture of water and cyclohexane/benzene. The first type uses enzymes and yeast fermentation to convert the plant cellulose into ethanol while the second type uses pyrolysis to convert the whole plant to either a liquid bio-oil or a syngas. When these components are added to the mixture. used in many early fuel ethanol plants. it will produce anhydrous ethanol on the top stream of the column. only the sugar (e. Prior to fermentation.6% m/m (96. When condensed.5% v/v) ethanol. Second generation processes can also be used with plants such as grasses. wood or agricultural waste material such as straw. some crops require saccharification or hydrolysis of carbohydrates such as cellulose and starch into sugars. is immiscible in gasoline. Another early method. Distillation Ethanol plant in Sertãozinho.
The most striking characteristic here is a trend for corn to see a decline of prices from mid-summer going into the harvest period. Usually prices tend to be near their highest in July due to factors relating to the old crop and ambiguity over the new crop harvest. When trading in corn futures contracts. as a result of corn being used in the production of ethanol. decreasing corn's price. the bed is regenerated under vacuum or in the flow of inert atmosphere (e. many methods have been proposed that avoid distillation altogether for dehydration. and the demand for corn will subsequently decrease. Most important factors Corn commodity prices can be affected by a wide range of factors. a third method has emerged and has been adopted by the majority of modern ethanol plants. ethanol vapor under pressure passes through a bed of molecular sieve beads. as although corn based ethanol is currently the cheapest biofuel.g. Of these methods. Any overly wet or dry season will limit the yield of the crop that a farmer can harvest. but the two most important determiners of the price of corn options are the weather. The bead's pores are sized to allow absorption of water while excluding ethanol. second one covering mid-summer to harvest time and the third relating to the period after the crop has been harvested. Two beds are often used so that one is available to absorb water while the other is being regenerated. it tends to continue after the mid-July period if the crop harvest forecast is good. the advent of a cheaper alternative will usurp ethanol as the fuel of choice. Harvest increases current supply which puts downward pressure on prices reaching their lowest levels of the crop year. N2) to remove the absorbed water. speculators also need to be aware of the viability of alternative biofuels. In this process. This new process uses molecular sieves to remove water from fuel ethanol.000 btus/gallon (840 kJ/l) compared to earlier azeotropic distillation. After a period of time. whereas exemplary weather will make yields much larger. This dehydration technology can account for energy saving of 3.With increasing attention being paid to saving energy. World production 18 . Prices will then recover after the harvest although the 'February Break' may mean that corn prices display some weakness in February. Even in some years when the price decline starts earlier. and the worldwide trend in energy prices. Price of corn Seasonality Seasonality can be split into three recurring periods: the first one starting late spring to midsummer. as with any agricultural product.
Export Import 19 .
Japan is consistently one of the largest customers for U.8 46.0 48. corn. corn production. is exported (most corn sold to other countries is also used to feed livestock.9 Mexico 163.7 Saudi Arabia 11.3 456.3 Japan 60. less than 10% of the U. Taiwan. The rest.S.9 130. field corn crop is used for direct domestic human consumption in corn-based foods such as corn meal.9 59. seed. and industrial products account for an additional 12% of production.6 Imports 276. and often competes for acreage with.6 43.8 393. Currently. and industrial uses.8 31.5 17. Mexico. Ethanol fuel / fuel additive accounts for appoximately 16% of production.7 65. Sweet corn.S. and it is primarily used for animal feed.9 98.9 29.5 32.0 India 19.8 48.3 54. while the remainder is used for animal feed.0 29. the republics of the Commonwealth of Independent States (formerly the USSR) are noted for making huge but irregular purchases.4 Total Trade 525.0 Size of the US market.0 Taiwan 26.S. beef. in either the form of whole grain or in commercially prepared feeds where corn is a primary ingredient. Corn is usually grown in the same areas as. In contrast.3 82.4 Netherlands 35.2 Singapore 29.5 South Korea 38.0 Brazil 35. ethanol production.7 49.6 35.1 Venezuela 10.3 19. approximately 17%.Country Exports Canada 248.2 United Kingdom 48.5 364.7 120.0 180.8 China 91. Overall in 2007 / 2008.5 Germany 48. and corn flakes. For this reason. main trade partners Field corn (or dent corn) is the predominant corn type grown in the U. pork and dairy livestock). both white and yellow. Food.S.6 61. Other large buyers include South Korea. corn starch.3 87. food or ethanol production).4 43. and Egypt. but makes up only about 1% of total U.9 38. soybeans. exports. approximately 55% of the corn produced in the United States was fed directly to animals (poultry.9 229. seed..8 France 27. is usually consumed as immature whole-kernel corn by humans and also as an ingredient in other corn-based foods. the expected profitability of corn relative to other crops is often a major 22 . Corn production in any given year is determined by two factors: acreage and yield.
1 billion from 2010/11 as a 4. July. Since the majority of each year's corn crop is fed to animals. so farmers. corn. both here and abroad. Source: USDA World Agricultural Supply and Demand Estimates (WASDE) 5 23 . This is below the 2009/10 record of 14.5 billion bushels. September Daily Price Limit 20 cents per bushel ($1. March.liffe Commodity Exchange each offer two types of risk-management tools: futures contracts and options on futures contracts. and milo (grain sorghum). After corn has been planted and acreage has been established. as a 5-million-bushel increase in 2010/11 imports and a 50-million-bushel reduction in 2010/11 exports boost current year carryout this month.000/contract) above or below the previous day's settlement price. prices can fall from a decrease in demand. livestock and poultry numbers are important factors in determining domestic corn demand. but up 75 million from 2010/11. up 1.7 bushels per acre. All other things being equal. The Chicago Board of Trade and the Euronext.S. an increase in supply can cause prices to fall. a crop failure or other decrease in supply can cause prices to rise.3 billion bushels. and others need a way to manage this risk. can affect corn demand.consideration in a farmer's planting decision. Foreign demand also may be influenced by such things as exchange rates and grain production in other countries. oats. Competition from substitute feed grains like barley.5 Contract Months December. rye. On the other hand. Conversely. The 2011/12 yield is expected to be the third highest on record. the market focus generally shifts to the weather and other yield influencing factors until the crop has been harvested.0-million-acre increase in intended plantings and a recovery from last year¶s weather-reduced yields boost expected output. as often occurs when farmers produce a bumper crop.50/contract) On May 11. Corn prices can be volatile. as when large foreign crops reduce the need for other countries to buy U. all other things being equal. elevator operators. the USDA World Agricultural Supply and Demand Estimates (WASDE) indicated: Corn production for 2011/12 is projected at a record 13. tropical crops such as cassava (tapioca).0 bushels below the 1990-2010 trend reflecting the slow pace of planting progress through early May. Ticker Symbols Open Outcry: C Electronic (a/c/e): ZC Tick Size One fourth cent per bushel ($12. processors. No limit in the spot month (limits are lifted two business days before the spot month begins). 3. such as when a shortage of other feed grains leads to greater use of corn. 2011. exporters. Corn supplies for 2011/12 are projected at 14. and even various food grains including wheat. May.8 billion bushels. An increase in demand can cause prices to rise. The 2011/12 corn yield is projected at 158.
24 .m. 6:00 a. Chicago time.000 bushel Deliverable Grades Number 2 Yellow at par.Corn Futures Contract Size 5. Sun. .m. Number 3 yellow at 1 1/2 cents per bushel under contract price Price Quote Cents and quarter-cents per bushel Last Trading Day The business day prior to the 15th calendar day of the contract month.-Fri. Last Delivery Day 2nd business day following the last trading day of the delivery month. Mon-Fri. Chicago time. Number 1 yellow at 1 1/2 cents per bushel over contract price.m.1:15 p.m. Electronic (a/c/e): 8:30 p. Trading Hours Open Outcry: 9:30 a. Trading in expiring contracts closes at noon on the last trading day.
Indiana. Minnesota. Corn is America's number one field crop. corn starch and lysine) or industrial products such as ethanol and polylactic acid (PLA). Corn leads all other crops in value and volume of production.300 kernels. A pound of corn consists of approximately 1. crop is produced in Iowa. and it doesn't pollute the water. There are about 800 kernels in 16 rows on each ear of corn. The main ingredient in most dry pet food is corn. One bushel of corn will sweeten more than 400 cans of Coca-Cola. Mexico and the 25 countries that make up the European Union. reducing air pollution. a member of the grass family. seed or industrial uses such as ethanol production (17 percent). Wisconsin and Missouri. Corn is used to produce fuel alcohol.S. corn crop was used for feed. (or ³maize´ at it is known throughout much of the world) is a cereal crop. the U. crop was split between exports (25 percent) and food. Over 50 percent of the U. Zea mays L.. The corncob (ear) is actually part of the corn plant¶s flower. The remaining U. 26 . Fun Facts About Corn Farmers grow corn on every continent except Antarctica.S. Nebraska or Illinois. Other states in which corn is grown include Kentucky. South Dakota. Ohio.S.Important facts about the product and industry Facts Corn. Other major corn producing countries include China. Brazil. Wisconsin. The two primary methods of processing corn are referred to as "dry" and "wet" milling. over 58 percent of the U.S. Corn is grown around the world and is one of the globe's most widely used food staples. Industry Overview In 2005. produced 42 percent of the world¶s corn. In 2005. Fuel alcohol makes gasoline burn cleaner. corn varieties are directly used for food and animal feed or processed to make food and feed ingredients (such as high fructose corn syrup.
http://scienceray.Corn and the Maya. http://www.Corn Food.html 4). and Uses of Corn.agron. Origin.htm 8) Maize.com/biology/ecology/corn-the-miracle-crop-of-themodern-world/ 2). Corn Commodity Market.mayadiscovery.wikipedia.htm 3).com/news/home/20100208006406/en/Corn-Oil-ExtractionTechnology-Leads-Energy-Carbon 5). Corn: The Miracle Crop of the Modern World.Corn. http://www.edu/courses/agron212/readings/corn_history. http://www.com/corn-food/ 6).iastate. http://en. Published by Bren Parks November 20. 2007.com/corn. History.APPENDIX 1).businesswire.org/wiki/Maize 27 .corn. http://www.com/genpage. Corn Oil Extraction Technology Leads Energy and Carbon Shift for Ethanol Industry. http://www.php?tname=foodspice&dbid=90 7).whfoods.com/ing/history/corn. http://www.credfinrisk.