Up go beef prices
“The corn and livestock industries are linked. As corn goes up, so will the price of meats, and ultimately, that cost is passed on to the consumer.”
The real reason most people are pissed about subsidized ethanol: it competes with subsidized meat and makes it more expensive. Cheap meat has long been the goal of our farm policy, and the farmer is saying ‘screw you’ and looking to other added-value ag opportunities.
People don’t like their ethanol but they love their cheap meat. Subsidy is subsidy. I say get used to it, even if the ethanol subsidy is done away with, technological advances are still going to siphon farm products away to other added-value ag opportunities than meat, or throwing it on a barge and shipping it to China. Farmers are not going to go back to farming 50 years ago no matter how much the luddites want it to return to that.
Dayton Cargill bid line Corn june/july delivery $8.09
Katie, bar the door!
Thank you, all you slimy politicians who have given us ethanol!!!!!
In another thread we were talking about the drought in China, foreign demand from various situations, flooding in the USA and the ever increasing uses for field corn should keep the prices higher for awhile. Maybe some folks will benefit from this in rural areas.
Unintended consequences of ethanol subsidies perhaps?
http://www.bea.gov/newsreleases/international/trade/2011/pdf/trad0411.pdf
Corn exports up $1.3 billion in last year, 74 mil last month.
Wheat exports up $358 mil last month!
We’ve got corn for sale at the local supermarket 12 ears for $3. I usually pick up 4 of them, soak em and toss em on the grill with some fish market tuna steaks.
What was the all-time low?
Nonsense.
In inflation-adjusted 2008 dollars, corn peaked at almost $16 in 1973. About double what it is now.
http://www.inflationdata.com/inflation/images/charts/Corn/corn_inflation_chart.htm
Go farther back in history and grain prices were much higher than today. Adjusted for inflation, of course.
So are diesel prices, parts prices, gas prices for running into town for the parts, fertilizer prices, seed corn prices,and so on and so on...
A Populist Jihad against Grrrredy Commodities Speculators is in our near-term political future, and you can take that to the bank. If the pitchfork mob has not already burned down the bank, that is.
Corn Subsidies** in the United States totaled $73.8 billion from 1995-2009.
Year Subsidy Amount
1995 $2,934,905,729
1996 $2,119,059,177
1997 $2,906,300,158
1998 $5,064,623,703
1999 $7,567,377,481
2000 $8,058,490,168
2001 $5,982,553,435
2002 $2,498,438,680
2003 $3,439,944,865
2004 $5,308,631,480
2005 $10,138,944,101
2006 $5,796,967,433
2007 $3,806,081,790
2008 $4,194,744,978
2009 ** $3,975,606,299
Go figure. Fed is giving farmers subsidies to grow it for Ethanol so that the ethanol can ruin gaskets, O2 sensors and what not to artificially pump-up/replace some gas [badly]. If I could find gas without it, I’d always buy it.
An average vehicle consuming gasoline which contains 10% ethanol removes as many calories from the food chain in a year as it would take to keep two people alive for that same year.
Just remember this pal, The price of fertiliser, seed corn, Diesel fuel , they are all at record prices too, and you cannot raise the corn without the other expenses.
Evil windfall profits from Big Corn to be taxed?
So you're saying 1 bushel of corn will get you across the Bay Bridge in 2013???
Maryland "Freak State" PING!