/biz/ - Business & Finance

>>13927953
>upward pressure across the board to food prices.
Scary stuff going on with the planting season this year.

In other news, US corn harvest is down to record lows this year.

>Only 32% of U.S. #corn had emerged by May 26 compared with a 5-year average of 69%. >>>13892778
That is RECORD slow by far. Here are the next few slowest (records since 1999): 2) 2002 53% 3) 2013 54% 4) 2008 55% 5) 2011 57% 6) 2009 58%
https://twitter.com/kannbwx/status/1133491482986520576

>US completes 58% of intended US corn acreage planting, 32% below five-year average
https://www.spglobal.com/platts/en/market-insights/latest-news/agriculture/052819-us-completes-58-of-intended-us-corn-acreage-planting-32-below-five-year-average

>>13892810
The price would be higher to justify less efficient, more capital intensive production, yes, this is Ricardo's old theory of rent. I think once such an economy of scale is achieved such mining would flood the market, however. Though, this is a long ways into the future.