The Corn Economy

Apr 2024

Videos and Webinar Recordings

Content provided for the Corn Economy by NCGA's Lead Economist, Krista Swanson. 

Apr 30, 2024

NCGA Economic Update 2024: 2Q

Author: Krista Swanson

The United States is a global leader in corn production, producing a record 15.3 billion bushels of corn on 94.6 million planted acres in 2023.    Founded in 1957, the National Corn Growers Association represents nearly 40,000 dues-paying corn growers and the interests of more than 300,000 farmers who contribute through corn checkoff programs in their states. NCGA and its 50 affiliated state associations and checkoff organizations work together to help protect and advance corn growers’ interests.    NCGA Quarterly Economic Report 2024: 2Q (pdf)  

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Apr 8, 2024

Corn Demand Takes a Hit in EPA’s New Tailpipe Rule

Author: Krista Swanson

Motor gasoline use is expected to decline in the future even under a baseline case, but new tailpipe emissions rules really put the pedal to the metal – rapidly accelerating that process. This would be a major shock on demand for corn used to produce ethanol spurring potentially devastating impacts on farmers and the rural economy.       The New Tailpipe Emissions Rule The Environmental Protection Agency recently released its final rule for multi-pollutant emissions standards for model years 2027 and later light-duty and medium-duty vehicles with heavy reliance on the use of electric vehicles. The ruling dictates that sales of non-electric vehicles will drop from over 92% of new vehicle sales in 2023[i] to under 30% of new vehicle sales in 2032. In the EPA central scenario, that translates to a 6.9-billion-gallon reduction in motor gasoline use in 2032, a 5.7% decline from the baseline projection for that year. Motor gasoline use is expected to decline in the baseline, but...

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