Teucrium Trading, LLC, a sponsor of a suite of six single commodity ETPs that include energy and agriculture and one core agriculture commodity ETP, is pleased to announce the launch of the Teucrium Corn Clock SM , a real-time dynamic flip clock which displays each second how many bushels of corn will be required for that year just to supply the needs of the additional population up to that point in time.
In commenting on the Corn Clock which is displayed on the Teucrium website, Brandon Riker, Director – Strategic Marketing and Analysis, said, “Teucrium’s goal in establishing the Corn Clock is to visually illustrate and create awareness about how population growth can drive demand and thus impact the supply necessary to meet this demand.”
Riker said that according to the U.S. Census Bureau, about 2.44 people are added to the planet each second and each person uses, on average, about 4.85 bushels of corn per year¹. As an example, since the beginning of the year through 11:59:59 pm on February 28, 2013, the planet had added over 12.4 million people. To support the demand for corn from just these 12.4 million people, the world will need to produce about 60.3 million bushels of corn this year.
With the global population increasing by around 75 million people each year, about twice the population of California, and each person using about 4.85 bushels of corn¹, that means just to provide for that demand, the planet must produce approximately 363.8 million additional bushels of corn.Riker additionally noted, “Based on current world-wide yield from the USDA, this would mean about 4.87 million additional acres (an area about the size of the state of New Jersey) would need to be planted to meet the growing demand. However, all land is not created equal and there are often issues, for example, with access to water and infrastructure.”²