Speculation blamed for global food price increases

[anonhouston]

I'm actually in the agriculture industry, have been for 20+ years and I can say for certain that foolish ethanol policies are a major factor in increased food prices. We use about 40% of our corn crop for ethanol. This artifically inflates the corn prices and displaces acres for other crops meaning less acres of all other crops being planted. It's simple supply and demand and when such a significant portion of a major crop is used for ethanol it decreases supply/acres of all other crops increasing the prices. This is not opinion, it's fact. Look at the US AG statistics by state you'll see significant decreases in most crop acres.

Ethanol from corn or any other food stuff is one of the most foolish ideas ever!

It's not such a big deal in the USA if we need to spend 15% of our income on food instead of 10%. However, if you are living in a country where most of your income goes to food this increase is a major problem!

The entire green energy movemement (including ethanol, wind, etc) is nothing but an attempt to undermine our way of life in the USA.

Green energy in the name of global warming is worse than almost any religion and is very similar in the fact that it requires blind faith, modern myths, unsubstantiated beliefs and other detrimental nitwittery...

[Sexyeccentric1]

Originally Posted by anonhouston

I'm actually in the agriculture industry, have been for 20+ years and I can say for certain that foolish ethanol policies are a major factor in increased food prices. We use about 40% of our corn crop for ethanol. This artifically inflates the corn prices and displaces acres for other crops meaning less acres of all other crops being planted. It's simple supply and demand and when such a significant portion of a major crop is used for ethanol it decreases supply/acres of all other crops increasing the prices. This is not opinion, it's fact. Look at the US AG statistics by state you'll see significant decreases in most crop acres.

Ethanol from corn or any other food stuff is one of the most foolish ideas ever!

It's not such a big deal in the USA if we need to spend 15% of our income on food instead of 10%. However, if you are living in a country where most of your income goes to food this is increase is a major problem!

The entire green energy movemement (including ethanol, wind, etc) is nothing but an attempt to undermine our way of life in the USA.

Green energy in the name of global warming is worse than almost any religion and is very similar in the fact that it requires blind faith, modern myths, unsubstantiated beliefs and other detrimental nitwittery...

Hahahaha.. wonder where you got that last part from?

Oh don't forget Kills Dogma on Contact!

[anonhouston]

I came up with it on my own of course... LOL I thought you'd appreciate that.

[Sexyeccentric1]

Yes very much appreciated and quite humorous!

In light of what you are talking about I found this article that backs you up..

http://www.guardian.co.uk/global-dev...ng-food-prices

[anonhouston]

I didn't read the little yellow sticker or I would have included it...
If this is true then Atheism will solve the entire global warming issue... "Kills Dogma on Contact!"
Your points about speculators on the other hand is easy to figure out. Speculators help set prices in the market place. They can speculate that prices will go up or they can speculate that prices will go down. You can blame them for either but all they are doing is betting using the information that they have. I've been a speculator from time to time and sometimes I've been right, sometimes I've been wrong. Kind of like seeing a new provider... you make your decision based on the info you have but it's still a game of chance in most cases.

[farmstud60]

Originally Posted by anonhouston

I'm actually in the agriculture industry, have been for 20+ years and I can say for certain that foolish ethanol policies are a major factor in increased food prices. We use about 40% of our corn crop for ethanol. ..

WRONG, you must feed cattle in Texas to come up with those wrong numbers. Ethanol production produces high quality distillers grains that are used for animal feed just like the corn that is raised for ethanol. When you add back distillers, you have 25% of the corn actually being used as ethanol.

A study by Iowa State University shows that ethanol has lowered gas prices by 90 cents a gallon nationwide, and as much as $1.35 a gallon in some midwest states. This is lowering the cost of transportation, which is a larger component of food prices than corn prices.

[cptjohnstone]

to my fellow Ag business folks, let us not forget "pink slim"

college kids, they will riot about anything

http://www.meatpoultry.com/News/News...of%20LFTB.aspx

and then with the US dollar being low, exports go up

and with cattle feedlot numbers being at a 50 year low, due to last years drought, does not hurt rising meat prices

[farmstud60]

Pink slime, more yellow journalism.

Finely Textured Lean Meat is a great product, and helps feed people a high quality lean protein.