A nice idea, but corn subsidies will go away only after the Oil Depletion Allowance goes away. Those oil producers need all the help they can get in these tough times.
Good point on the depletion allowance. They used 2005 for prices because corn was very low. Loan deficiency payments were paid because corn went below $1.86/bushel. Given todays prices and the same loan rate there will be no payments for this. Other than direct payments which are not tied to production there will be no payments.
They are correct when they call this a cheap food policy. These subsidies are for the consumer via the farmer.