Sadly, this is not an April Fools’ prank:
“US Corn stocks are significantly smaller than previous estimates suggested, the USDA said today. That sent the price of corn shooting up once again. (…)
As we noted recently, a couple key factors mean that demand for corn is staying high even as the price rises. One is growing consumption of meat among the growing middle class in Asia, which in turn means more demand for corn to feed livestock. The other is growing demand the growth for corn-based ethanol, which is supported by government subsidies.”
More on NPR’s Planet Money blog.