There is zero link between corn prices and what’s happening in Egypt and Tunisia. They eat rice and wheat.
“There is zero link between corn prices and what’s happening in Egypt and Tunisia. They eat rice and wheat.”
Directly, yes. Indirectly NO!! The West eats corn, wheat, and rice. So, what do we do when corn gets expensive...move over to wheat and rice, to some extent...and put pressure there.
The bottom line is that there is a relatively inflexible food supply, and when some new user comes in and consumes a big chunk of it (for stupid political reasons), the only response is for prices to rise.