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Corn Prices Going Out of Sight

Original post made by Mike, College Terrace, on Jun 19, 2008

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It's not something that we pay much attention to in Silicon Valley, but these price hikes are a direct result of mega-ag corporations shilling for price supports on corn, and lobbying to have corn used for ethanol (btw, corn is 10 times less efficient than sugar cane for this use).

The Congress (including Obama and Clinton) voted for the Farm Bill, and helped pass it. McCain slithered out with a "no show".

This is a pathetic display of ag money in politics, and a good review of just _one_ of the deleterious effects of catering to ag corporations.

This needs to stop.

Comments (1)

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Posted by Gary
a resident of Downtown North
on Jun 20, 2008 at 3:57 pm

Mike,

Please explain to all of us how price supports for corn depressed the planting of corn acreage. That's the way it used be, but I am not aware that is still that way. Suppression of supply, using price support deals, was the socialist model (FDR). However, we eventually freed ourselves from this constraint...price supports became a floor that allowed farmers to plant fence-to-fence (supply side argument).

Corn to ethanol IS absurd, however, it also allows farmers to get high prices, thus obviating the price support level.

[Portion removed by Palo Alto Online staff.]


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