Corn Farmers Coalition

It doesn’t. Corn, in fact, is so cheap in relation to everything else that goes into making, packaging, marketing, storing and transporting, say, a box of cornflakes that the price of corn only minimally affects the price of that box – a nickel of the total. What really pushes prices up is the cost of oil, an indisputable fact which demolishes the arguments of the oil companies and others who blamed ethanol for high food prices.