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Why the corn price has risen and ended up being too high

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Question: Crop Prices Erode Farm Subsidy Program High corn and soybean prices mean farmers are making the most money in their lives. The reason: Grain prices are far too high to trigger payouts under the U.S. primary farm-subsidy program's "price support" formula. The market has done what Congress couldn't do and that is "slash farm subsidies."

In the market for corn with a price support, explain why the corn price has risen and ended up being too high to "trigger payouts."

Reference no: EM131611955

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