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$7 corn and $15 soybeans?
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<blockquote data-quote="kenny thomas" data-source="post: 812941" data-attributes="member: 8993"><p>from agcenter.com </p><p>Governments from Egypt to India to Thailand have been reacting to public protest over high food costs. We truly have a global economy when it comes to food and food products move daily across national boundaries. The United Nations tracks food costs and periodically reports issues reports on their status. Global food prices hit a record high in January, the U.N. Food and Agriculture Organization said on Thursday, adding that prices, already above the 2008 levels which sparked riots, were likely to rise further. This was not good news for governments struggling to quell the public outrage.</p><p></p><p>It also is not good news for public policy makers who are charged with formulating policy to provide affordable food and sustainable agriculture. Chairman Bernanke in his first speech in several months took a powder when asked if quantitative easing QE2 was responsible for food inflation. "Inflation remains quite low" replied Bernanke. He failed to note that the government index tracking inflation does not include food costs. </p><p></p><p>Of course, Secretary Vilsack is asked about this issue almost daily. His response has been awarded the MOST OUTRAGEOUS STATEMENT OF THE YEAR. In fact the Secretary is responsible for TWO of the most outrageous statements of this past year:</p><p></p><p>•"Ethanol demand is not responsible for the sharp increase in corn prices."</p><p></p><p>•"Higher commodity prices will not cause higher food prices."</p><p></p><p>These statements are preposterous but are indicative of the box where many politicians find themselves. They can either continue to defend unsupportable policies or abandon the policies. Politicians are fairly predictable. When people start protecting high food cost and they will, the politicians will run for cover and abandon any loyalties to lobbyist groups like the ethanol industry.</p><p></p><p>High food cost also will help debunk many of the myths surrounding food production. Yields from organic crops are generally one third to one half less than conventionally farmed crops. With no evidence to support a health benefit from organic it is reasonable to expect some acres dedicated to organic farming convert or at least a decline in the growth of organic foods. </p><p></p><p>Another myth expected to go, is the notion that genetically modified seed is bad. Genetically modified seeds speed the same natural processes that occur in all plants when they fight for survival. They change their genetic makeup to ward off disease and insects that prey on the plant. By experimentation in the lab and scientific introduction of new DNA in the genetic code, the process is shortened and seed production delivers varieties that improve yields and reduce expenses for insecticides and herbicides. USDA recently approved a new GM variety of alfalfa that will be important to expanding the tonnage from the crop. </p><p></p><p>Nowhere is food inflation more dangerous than to the beef industry or all meats. Runaway corn prices require a beef price level that may not be possible. The current high price of beef threatens not only our export markets but also our domestic consumption. Beef must be affordable to be sustainable.</p></blockquote><p></p>
[QUOTE="kenny thomas, post: 812941, member: 8993"] from agcenter.com Governments from Egypt to India to Thailand have been reacting to public protest over high food costs. We truly have a global economy when it comes to food and food products move daily across national boundaries. The United Nations tracks food costs and periodically reports issues reports on their status. Global food prices hit a record high in January, the U.N. Food and Agriculture Organization said on Thursday, adding that prices, already above the 2008 levels which sparked riots, were likely to rise further. This was not good news for governments struggling to quell the public outrage. It also is not good news for public policy makers who are charged with formulating policy to provide affordable food and sustainable agriculture. Chairman Bernanke in his first speech in several months took a powder when asked if quantitative easing QE2 was responsible for food inflation. "Inflation remains quite low" replied Bernanke. He failed to note that the government index tracking inflation does not include food costs. Of course, Secretary Vilsack is asked about this issue almost daily. His response has been awarded the MOST OUTRAGEOUS STATEMENT OF THE YEAR. In fact the Secretary is responsible for TWO of the most outrageous statements of this past year: •"Ethanol demand is not responsible for the sharp increase in corn prices." •"Higher commodity prices will not cause higher food prices." These statements are preposterous but are indicative of the box where many politicians find themselves. They can either continue to defend unsupportable policies or abandon the policies. Politicians are fairly predictable. When people start protecting high food cost and they will, the politicians will run for cover and abandon any loyalties to lobbyist groups like the ethanol industry. High food cost also will help debunk many of the myths surrounding food production. Yields from organic crops are generally one third to one half less than conventionally farmed crops. With no evidence to support a health benefit from organic it is reasonable to expect some acres dedicated to organic farming convert or at least a decline in the growth of organic foods. Another myth expected to go, is the notion that genetically modified seed is bad. Genetically modified seeds speed the same natural processes that occur in all plants when they fight for survival. They change their genetic makeup to ward off disease and insects that prey on the plant. By experimentation in the lab and scientific introduction of new DNA in the genetic code, the process is shortened and seed production delivers varieties that improve yields and reduce expenses for insecticides and herbicides. USDA recently approved a new GM variety of alfalfa that will be important to expanding the tonnage from the crop. Nowhere is food inflation more dangerous than to the beef industry or all meats. Runaway corn prices require a beef price level that may not be possible. The current high price of beef threatens not only our export markets but also our domestic consumption. Beef must be affordable to be sustainable. [/QUOTE]
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