The U.S. is also the world's leading exporter of corn with 2.23 billion export volume, whereas the import volume is relatively small. Among the leading buyers of U.S. corn were Japan, Mexico, and Colombia in 2016.
Over the last seven decades, U.S. prices per one metric ton of corn showed high volatilities, but were rapidly increasing in the last years. A new peak price was reached in summer 2012, attributable especially to the tremendous drought in most of the major agricultural U.S. states. In the subsequent crop years of 2013 through 2016, prices dropped again.
Corn is increasingly utilized in the production of industrial ethanol. In 2016, almost 38 percent of all corn was used for this purpose in the United States.