Agricultural products are actively traded in the futures markets worldwide.
Corn
Corn is used as both food and feed to animals and is one of the most important crop in the world. The United States is the largest producer of corn and four states in the United States – Iowa, Illinois, Nebraska and Minnesota, known as the US Corn Belt, together accounted for more than half the US output. Corn as starch, is used in food, as well as in the manufacturing of drugs, cosmetics and industrial production such as the development of adhesives, batteries, cleaners, dyes, refinery of oil and ore, lubricants, paint, tires, surgical dressings and textiles. IN recent years, corn is also used as a base crop for the production of ethanol.
Wheat
The second most important crop to corn is wheat. Wheat is a staple food for making flour, bread, cookies, noodles and other pastas. Wheat can also be used as a biofuel and as a forage crop for livestock.
Rice
After corn and wheat, rice is the third most important crop in the world. It is a staple food for large parts of Asia and provides 20% of global calorie intake. Rice growth requires high rainfall and abundant supply of water. Major rice producing countries in the world are China, India, Indonesia, Bangladesh, Vietnam and Thailand.
Cotton
Cotton has an important role in the history of industrial revolution. Cotton is used primarily in the manufacturing of textiles. Other industrial uses include production of fishing nets, coffee filters, paper, tents and mattresses. The major cotton producing countries are China, India and the United States. Cotton requires abundant sunshine and adequate rainfall. In the United States, cotton is mainly produced in the states of Texas and California.
Oats
Oat is the most important cereal grain. It is also used as a feed for both horses, cattle, dogs and chicken. Oats grow in temperate regions and are more tolerant of higher rainfall than wheat. Major oats producing countries are Russia, Canada, the United States, Poland, Finland and Australia.