That may be. But as a percentage of farm income, the prices that corn (and soybeans to an extent) demands is driven by biofuel mandates within the US. If the only market was food and export, those prices would be substantially lower.
Meaning that in the US biofuels are a very inefficient way of giving corn growers subsidies. That’s why congress has supported various biofuel requirements.
That may be. But as a percentage of farm income, the prices that corn (and soybeans to an extent) demands is driven by biofuel mandates within the US. If the only market was food and export, those prices would be substantially lower.
meaning what
Meaning that in the US biofuels are a very inefficient way of giving corn growers subsidies. That’s why congress has supported various biofuel requirements.
worry not brazil, also gives subsidies to the ethanol industry here, in part because we want to more independent of oil imports