The forecasted data for US corn production shows a steady increase from 2024 to 2028, starting at 387.27 million metric tons in 2024 and reaching 405.98 million metric tons by 2028. Assuming the actual production in 2023 was 382 million metric tons, the year-on-year variations are:
- 2024: +1.38% from 2023
- 2025: +1.22% from 2024
- 2026: +1.20% from 2025
- 2027: +1.18% from 2026
- 2028: +1.15% from 2027
Over the five-year forecast period (2024-2028), the compound annual growth rate (CAGR) is approximately 1.23%. This consistent increase suggests a stable and gradually growing trend in US corn production.
Future Trends to Watch For:
- Technological advancements in agriculture that may boost yield
- Climate change and its impact on crop production
- Changing global demand for corn due to shifts in food and biofuel industries
- Government policies and subsidies affecting corn farming
