Didn’t we just do this?

(In which Sima works herself up into a frothing rant.)

Commodity futures prices, wheat, rice and corn, are rising again after a brief fall. In fact, they are supposed to top the records set in 2007/08 during the global food bubble.
Supposedly, Corn Rationing Needs to Begin:

“The corn market has one job and one job only—to go high enough to make people stop using the product,” says Ryan Turner, risk management consultant for FCStone, Kansas City. “We are past the point of encouraging more supply.” Turner predicts 2011 corn futures prices will exceed 2008 highs. “I don’t know if it will happen in January or June, but it will happen,” he says.

Soaring corn prices will slice into demand, with corn exports expected to fall first followed by feed usage. Analysts anticipate the cattle industry to begin rationing earlier than other livestock sectors due to poor margins, but rationing in poultry, hog, and dairy will be close behind. “It will be very painful,” Turner adds.

Those greedy so-and-sos! Imagine, eating corn and corn products? Making corn into feed to raise farm animals and then slaughtering those animals to feed humans. And furthermore, they feed the corn to dairy cows and produce milk and cheese and butter! Will the horror never end!

Obviously, everyone needs to suffer (UN: World Food Prices Hit a Record High in December). Especially the world’s poor. And those who produce the meat we Americans so love to eat are not to be excluded from the necessary pain. And those who produce the dairy we love to drink and nosh on with our imported European crackers. And those who make corn into tortillas, and those who make corn into corn syrup and those who make corn into ethanol… oh wait. Not those. In fact, those last ones may be part of what is driving the rise in corn prices. Nearly 1/3 of the 2010 US corn production was diverted to ethanol, after all.

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