Originally Posted By: Shannow
Given that global grain reserves used to be thought of in terms of years, and are now weeks, we are only a poor harvest off disaster...then price is pretty meaningless
Just in time farming... you are told what to plant by computer algorithms.
Originally Posted By: Ursae_Majoris
Good, maybe, we'll stop wasting taxpayers' money. Instead of us paying farmers NOT to grow, they can now use all of their land, grow and sell the food on the open market.
The problem is really more about volatility in food supply and price, rather than overall supply. You cannot have any quick solution to volatility other than huge stockpile (cost $), so business don't want to over grow and that ends up hurting consumers and especially 3rd world citizens than us.
I think most countries have export ban or price control to prevent price hike related famine.