However, competition for corn has greatly increased. Rising consumer demand, driven by expanding incomes in China, and an attempt to expand biofuel production have driven prices up from about $1.75 a bushel two years ago.
Farmers in North America responded with gusto in 2007, leaving only their front yards not planted in corn.
Now that the crop is in, buyers are again bidding up prices.
A bushel of corn over past year has done as well as the U.S. equity market
Such is the changing situation in the Agri-Food sector due to higher demand from Asia and biofuel producers.
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