Sorry, wrong answer. There is still a surplus of corn.
The USDA estimated that the 2008 harvest will bring in 12.020 bushels of corn from 78.2 million harvested acres, for a yield of 153.8 bushels per acre. Of the total corn supply for 2008, 13.659 acres, 39 percent will go toward feed and residual (5.3 billion bushels), 29 percent for ethanol and co-products such as distillers grains (4 billion bushels), and 10 percent for food, seed and other domestic use (1.335 billion bushels). Ethanol production will return approximately 1 billion bushels of corn back into the system for livestock feed, Dickey said. Approximately 14 percent will be exported (1.9 billion bushels), and the marketing year will end with 8 percent (1.124 billion bushels) in ending stocks for the following year.
"Ending stocks" means excess. Have you checked the board price on corn lately? You may have been paying much higher prices earlier in the year for your eggs due to hedge fund trading and higher transportation costs. However, that party ended months ago.
Why don't you ask The Grocery Manufacturers Association;...the people that started the Soviet-style anti-ethanol propaganda campaign earlier this year, why they haven't lowered their prices?
And another point, if corn growers determine that they can sell their product for more money to people who want to....say, use it for artwork...destroy it in a giant bonfire...or throw it in the ocean to feed fish...who in the hell are you to even have an opinion about it?
For some reason, you people think that you are entitled to cheap food; and that farmers should be forced to provide it at a minuscule profit.
Try China for that, and see how it works out.
Please don’t cite the facts. Too confusing to the urbanites demanding to pay the same for food that was paid in the 1960s. Everything else can inflate, but don’t ever allow food to keep the same pace. Any overfed urbanite will scream all the way the bathroom scales. There is enough stored fat on the human population in the US to feed the world for a year.
I don't know for which branch of the central government you toil, I would imagine some cabinet post underling. It is most telling when you refer to posters on FR as 'you people.'
Entitled to cheap food? Hardly.
Many of us here believe the villain to be your precious ethanol when we know that just over a year ago we paid $.89 for a dozen eggs. Now the price is 1.99. I cite that as one example, there are many, many others.
When I tour U. S. farm belts and see field after field planted in corn, where before there was wheat, along with other dissimilar crops, and then talk to farmers I get the idea that those crops are earmarked for the gas tank.
I see that more corn is being grown in gulf states. Our fishing areas there have been contaminated by the affluence associated with chemicals used solely in the growing of corn. There are large areas that have been contaminated to the extent that they are official 'dead' zones. Our gulf fishing business have been decimated with employment in this industry being reduced by 70%.
Don't throw that old 'hedge fund' canard at us, because that's what the bureaucrats in Washington are dishing up, and like global warming, they are calling the contrived data 'facts.'