.That increase has cost the global economy 11.6 billion dollars, 6.6 billion of which fell on developing countries.
Yea - Farm income is still at records despite the meat producing family farms being absolutely crushed. Thanks to crop insurance based on artificial ethanol demand.
Americans cannot afford to eat protein so our consumption is down double digits in the Obama time.
Soybeans are part of a best practice rotation which our farmers have foregone due the economic distortion of crony capitalist corn prices.
Again you tell falsehood.
Corn is around $8.00 a bushel rather than the more normal $2 to $3.
Wheat is around $8.50 and given the differential in yield less profitable than corn. This is why corn has been displacing wheat in America despite having a much lower nutrition and therefore economic value.
It also means wheat will not be available to offset the corn shortage around the world and American will have to continue to eat less protein despite an already 12% drop in the last few years. Bad harvest around the world.
WASHINGTON, Oct 10 2012 (IPS) - Rising corn prices in the United States brought about by biofuel mandates have cost developing countries 6.6 billion dollars over the past six years, according to new research released here on Wednesday.
The subsequent increase in food costs has drastically affected levels of world hunger and, in some countries, political stability, according to the report, published by the global watchdog ActionAid. The report also warned of the consequences of current U.S. policies.
“What this report really highlights is our inability to keep up with the current demands of corn for food and fuel – and most certainly future demands,” Kristen Sundell, a policy analyst at ActionAid USA, told journalists Wednesday.
Timothy Wise, director of the Research and Policy Program at Tufts University and the study’s lead author, noted, “Increased food prices triggered the Arab Spring, and U.S. ethanol production contributed to those food spikes.”
Corn prices in the United States have steadily increased since 2007, when new legislation known as the Renewable Fuel Standard began requiring the use of a percentage of corn in the production of a biofuel called ethanol. Today, ethanol is added to petrol across the country.
According to the report, 40 percent of all U.S.-grown corn is now being used to fulfil these ethanol mandates – up from just five percent a decade ago. And because 40 percent of all U.S.-grown corn translates to 15 percent of global corn production, corn prices have increased by 21 percent over the past six years. That increase has cost the global economy 11.6 billion dollars, 6.6 billion of which fell on developing countries.
Ron^3 will thank you again I am sure.
If you are not making record profits then you should make way for some one is a better farmer than you.
Board members...all farmers are rotating crops, soybeans can be rotated with 'corn or wheat'...plus, a farmer can make more money off of a wheat and soybean crop on the 'same amount of acres' than just corn alone...again, people eat more wheat around the world that eat corn or its products...
That said, crop insurance is not free, farmers pay for crop insurance just like everything else...I carried 70% crop insurance this year, I would have rather had normal crop yields than collect on crop insurance...
More, even though 40% of the corn goes for ethanol, about half of it is still high protein feed for livestock (tailings) and it makes more fuel available and cheaper...
Gosh, 'Arab Spring', why is anybody worried about the bad guys in the Mid-East...? $tagg...!
"about half of it is still high protein feed for livestock (tailings)"
56 pounds of corn goes in and 17 pounds of distiller grains come out. 30% not half
Distiller grains are processed into ddgs. It is an inferior feed cattlemen use to reduce costs. Other meat animals without complex digestion systems can make almost no use of it. Pigs, sheep, birds and fish. DDGS can be a supplement but it is not a primary feed.
This is why DDGS sells for less than corn. So it is not 30% of the corn value coming out but more like maybe 20%,
Corn ethanol is wholesale $2.40 but as it has only 66% of the energy of gasoline actually costs $3.60 compared to the record amounts of gasoline American is exporting - at $2.70 a gallon.
Natural gas can be directly converted for $1 a gallon. A savings of $1.40 on every one of the 13 billion gallons of corn ethanol corruption..
Stagg knows all this but does not care. Suffering Americans and starving human beings are the source of his crony capitalist profits to offset his wild loss which result from treating investing like topical gambling in Vegas.
Corn ethanol at best creates no net energy. But it does dramatically add to air, water pollution and over taxes the land.
BUt it does take out $13 billion out of our economy for gasoline cost and another $50 billion in food costs.
It is the most significant and completely avoidable reason real Americans incomes have declined over 8% in the sad Obama times.
"Gosh, 'Arab Spring', why is anybody worried about the bad guys in the Mid-East...? $tagg...!"
Ethanol was sold as a way to protect Americans from oil shocks. The resulting instability caused oil prices to spike and shocked our economy. Food based ethanol achieves nothing but destroys food and lowers American living standards.
Stagg I do not believe my fellow Americans have a good opinion of a person who says to fellow human beings #$%$ go hungry because I like record farm income - even if it bankrupts family meat farming operations.
You are far beyond childish and even foolish into true evil. Human beings going hungry for no productive reason except your record profits. That is evil.