Magic Tree Clock

Wednesday, August 12, 2009

U.S. corn supply to reach record: USDA - MarketWatch

One might not think that having a record supply of corn is related to the economy of home. In fact it is, and the key relationships are in forms and practices of production and consumption.

As for production, the constant increasing of corn bushel yields has been going on since the 1800s when the majority of the US economy was based in agricultural exports. It is still the largest part of our Gross Domestic Product (GDP). If you pay attention to a variety (preferably non-commercial) news sources, you will hear about the US food aid programs to other countries. Using food as a tool of international relations, as well as subtle neo-colonialism, has given the US governmental agencies and legislators the perceived power to profit from the practice of overproduction. Unfortunately, increasing yields through chemical and genetic manipulation has continually lessened the real incomes of corn farmers. I'll find the name, but it was a senator from a corn growing state, I think maybe it was James McClure from Idaho, that pushed for agricultural reform in the early 1970s. In this case, the reform was for more corn production, which, likely, benefited his constituents as there was a prediction of increasing grain prices in the 1970s. Duh. Of course he is going to push for corn.

What he did, in fact, was send some of his farmers to early retirement, or abandonment, and sadly all too often into foreclosure and bank repossession of land and equipment. The homes of the farmers - their own economy of home - was impacted directly from legislative acts. If anyone wants to talk about trickle-down economics, we could see a raging stream for farmers.

U.S. corn supply to reach record: USDA - MarketWatch

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