On Mon, 11 Feb 2008 09:18:54 -0600, Louis Ohland wrote:

Double whammy. More corn for ethanol, less corn for food stocks.

That assume an inelastic supply, which isn't the case for, for instance,
corn in Wisconsin. I've got about 15 acres of tillable soil that I am
specifically not growing corn on, because being paid to not do so pays
better than doing so. If that equation changes, I'd consider putting it
back into farmland.

If the price of corn goes high enough, the millions of acres in
land-bank, will be taken out. That's exactly the sort of thing that
land-bank is for.