The price of corn is at all all-time high because of extreme drought conditions in the US coupled with the hottest July temperatures since records began 117 years ago.Inane PoliciesUS policy mandates production of ethanol for blending in gasoline. That ethanol comes mostly from corn.Diverting corn crops to inefficient ethanol production has members of the Group of 20 leading economies – including France, India and China – concerned about the US ethanol policy.
In response, the UN urges US to cut ethanol production
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