We live in a market society and a market economy, and the markets will clear. No matter how much wheat or corn or canola is taken out of the market to produce biofuels, the price will adjust upwards and somebody will buy it. It will just become more and more expensive as more is taken out.
What we must realize, and what Mr. Toews mentioned earlier, is that the worldwide supply and demand for cereals has been going down. Six years out of the last seven, production has been less than consumption. So we are now at a point less than 60 days, less than 57 days, of worldwide consumption in stock across the world. It's the first time since the early 1970s, when we had the great Russian grain robbery, that this has happened. This is why grain prices have spiked.
Now, of course, all the uses of grain are taken out, but the big new one is particularly ethanol in the United States, but also the ethanol and biodiesel in other countries. When we get such a short situation, just a small crop failure or even a reduction in crop yields almost anywhere in the world is going to have the same impact. It doesn't matter where. This is a worldwide market, and all of our producers are going to be affected by that.
I agree that Canada's impact here is going to be rather minor--we don't have that big a production--but certainly in specific local areas it could be important.