This year, we're probably going to plant 88 million acres corn and 88 million acres of soybeans. Because of the corn-bean ratio, more farmers are going to put soybeans in the ground given these prices right now. Ethanol is going to go south.
Ethanol is probably gone, and if that happens, you could see corn prices a lot lower. A whole lot lower. Way lower. I trust I'm clear. They could take a buck and a half to $2 out of corn without any problem.
In the past several years, if you take a look at corn prices to soybean prices to land prices, land is extraordinarily expensive. If you want to make the implied bet, cash your lot against the rising dollar, inflationary forces, and if you want to buy $8,000/acre land in Iowa, I think you'll fail. I think it'll get very ugly.