Area agricultural leaders say that a weakening U.S. dollar and more mouths to feed around the world – not ethanol plants – are largely responsible for the increased prices consumers are paying for food products.
"When you find yourself paying more money for a box of corn flakes at the grocery store, only a few pennies of that increase came from the price of corn," said former Illinois Farm Bureau President Ron Warfield of Gibson City.
Warfield said the price of an 18 oz. box of corn flakes rose from $2.28 a year ago to $3.39 this year. He said 1.6 cents of that increase was caused by higher commodity prices.