It all seems rather unlikely. There are all sorts of shocks, all the time in agricultural production but we have a hybrid system composed of subsidies ( that cause pretty significant overproduction ) and derivatives that lay off price risk. SFAIK, these are now deeply entangled.
It hardly perfect, but it's been polished and debugged over decades. The film "King Corn" does a good job of a layman's exposition of at least the subsidy system.
It hardly perfect, but it's been polished and debugged over decades. The film "King Corn" does a good job of a layman's exposition of at least the subsidy system.