Farming is different. Going way back, because of the high risk nature of farming, farmers tended to extreme collectivism. A good example is the far left Minnesota Farmer-Labor party, which is the Democrat party in that state, now called the Democratic-Farmer-Labor party.
As a rule of thumb, the best outcome for a given farmer would be to have a bumper crop on his land, and for every other farmer’s crops to die. This tends to mess up your head if you like your neighbors, which farmers tend to do.
But back to overproduction. During the Dust Bowl, when tens of thousands of farms were wiped out from Texas to the Canadian border, there was still overproduction in the unaffected farms, more than the country could tolerate. Then, at the start of the Great Depression, Americans were hit with severe *deflation*, which made the situation ridiculously worse.
A saying of the time was that you could buy a pound of hamburger for a nickel, but nobody had any nickels. There was nothing ironic about this, it stated a fact.
Again, outside the Dust Bowl region, farmers had abundant crops, that were worthless. Wheat was 25 cents a bushel, and corn was being burned for fuel. It cost more to transport to market than it was worth.
At the same time, Americans away from the farms were starving, both because food was not getting to market, and nobody could afford it if it did get to market.
For one of his first acts, FDR created the Federal Surplus Relief Corporation (FSRC), an utterly authoritarian agency. One of its first acts was to stabilize food prices by sending federal agents, backed by armed deputies, to farms all over the country, to seize and destroy surplus crops. Their first priority was to kill six million pigs from the decentralized pork industry.
Often they would go to a farm, destroy all its harvested crops, then tell the farmers they were now out of business as farmers, so to move to the city. Eventually they seized some crops, without paying for them, and sent them to city soup kitchens.
http://en.wikipedia.org/wiki/Federal_Surplus_Relief_Corporation
To say that the FSRC was murderously hated is an understatement. It was merged into other New Deal agriculture organizations and ceased to exist, but since that time, US agriculture has effectively been in a national socialist model, that is insanely expensive, but radically different from typical capitalist models.
A transition back to a capitalist model would also be very traumatic to farmers, even to agribusiness corporations, as well as consumers, so would have to be done with a huge amount of planning and preparation, in a plan that would take decades to implement.