Malarkey. The long-term effect of the increase in biofuels will be a LARGER availability of food. What do you think is going to happen to the left-over protein portions from corn and soybeans after the sugar content of the first and the oil content of the second is removed?? They'll be sold AS FOOD.
The current price increase is simply a temporary phenomenon as the US farmers gear up for increased production.
There will be plenty of corn, most likely too much of it, when the rising prices make other methods of making ethanol relatively cheaper. I'd be hesitant to plant too much acreage in corn.