The ethanol subsidies are now pushing up the price of all kinds of crops, wheat and everything else.
If all of those acres we dedicate to exports, wheat, corn, soybean--99% of all acres are dedicated to exports in this country--if we convert those to ethanol and biodiesel, we can produce 1 billion barrels of biofuels.
That the dollar cost of commodities from wheat to meat to soybeans all skyrocketed alongside oil signaled that far from a problem of scarcity, commodities were becoming expensive thanks once again to a weak dollar.
Farmers of a few select crops such as wheat or maize can avoid almost all risk using the government's overlapping system of subsidised insurance, loans and payments.
Global production of corn, wheat and rice have all more than doubled since 1970 as global warming occurred.
FORBES: Fortified By Global Warming, Crop Production Keeps Breaking Records
The combination of plentiful monsoon rains and high minimum purchase prices for wheat and rice means the country is forecasting an all-time-high grain production of 250.42 million tons in the crop year ending June 30.
The problem is not just wheat, but also processed dairy and sugars -- all of which we consume more regularly and in higher quantities than ever before.
Mr. ROB FISHER (President, Oklahoma City Stockyards): Most of the cattle are turned out on winter wheat to graze all winter, and they sell them in March and April.
One in five of all the calories consumed round the world come from wheat.
Filburn, from 1942, the Court said that the federal government could regulate the amount of wheat grown on a farm, even if none of the wheat was sold across state lines, or even if no wheat was sold at all.
But it is odd that traders in such a commodities-rich nation must stay up all night to wait for their counterparts in Illinois to discover the best price of Australian wool or wheat.
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