Since the early decades of the 20th century, as agriculture transitioned from subsistence farming into industrialized ag, it has demonstrated an ability to out-produce its market in response to price signals.  I have listened to a number of marketing people this summer and all the talk was about planted acreage and record production.  You can raise the specter of government conspirators, but I think current price levels can be adequately explained by the fundamental forces of supply and demand.