Assuming most of you are corn farmers or have an interest in producing corn, it’s no secret that corn prices are significantly lower than the high we saw in 2008. In fact, right now, corn is barely $3 when 2008 prices were $7.
Other prices were high in 2008 – wheat was around $6.50 when it’s now $4.30. Freight was extremely high compared to what we see today.
Yet, according to this article, food costs are so extremely high that poorer countries have hungry citizens in droves.
We need to fix world trade. Market distortions obviously exist that prevent food from flowing into regions of the world when it makes economic sense. We have corn in the US. In fact, carryout of world grains are steadily increasing, so I see little reason for the bag of flour to cost three times what it did two years ago, as a Pakistani mother of five mentions in the article.