The U.S. Department of Agriculture gave a 5.3% stocks-to-use ratio as their official figure for corn carryover in their Sept. 12 monthly World Agriculture Supply and Demand Report (WASDE), but this low a ratio is just a construct, to cover for the fact that we are short of corn. As a nation, we will have on hand only 17 days supply. That is a polite term for shortfall (Figure 1).The immediate cause is the volume of corn going into ethanol, which took off under George W. Bush, and is now backed to the hilt by Barack Obama, as a screwball go-green policy. The share of U.S. corn production used for ethanol has this year exceeded that going for livestock feed!
The fact that Obama hasn't done anything about this is just another sign of his raging narcissism, which feeds on feigned adulation, such as at that shown to him at state dinners at Buckingham Palace and at his public appearances which are essentially infomercials (or dis-infomercials) to sell him and his latest policies. He will gladly sit by and watch people starve, using the excuse that ethanol production takes priority over people's lives, when in fact killing people is its very reason for existence.