Global Corn Market: Prices to Decline 10% in 2022, the average annual maize price is forecast to drop by 10% y-o-y due to higher global production and lower demand from Asia, after growing by 57% y-o-y to $260 per tonne in 2021. Thanks to rising corn prices and high demand for feed grains in Canada, U.S. maize export sales reached $16.5B in January-October 2021, doubling compared to the same period a year earlier. Rising corn prices and high demand for feed grains in Canada stimulated export value growth from the U.S. Throughout January-October 2021. U.S. maize supplies reached 60M tonnes, expanding by 30% compared to the same period of the previous year.
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