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| a 24-oz box of corn flakes cost $3.28 at Walmart. If the entire 24 ounces was corn (not sugar, or other ingredients), then the value of corn in that box was $0.22. If we assume a premium, then that value may have been $0.33 per box. The current market price of corn is $4.35 per bushel, which is about $0.12 of corn per box. But the price of the 24-oz box of corn flakes was still $3.28. While corn prices dropped 46%, the price of corn flakes was unchanged.
so no corn for food vs corn for fuel debate---
See more at: http://agfax.com/2013/11/13/numbers-corn-food-vs-corn-fuel/#sthash....
Edited by Gottlieb 11/13/2013 07:12
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When looking at what corn costs, when corn reached an all-time high of $8.03/bushel last year
