You're right in a sense. But the only reason is that the governments subsidize the production. People bitch about farmer subsidies but without them, farming wo

You're right in a sense. But the only reason is that the governments subsidize the production. People bitch about farmer subsidies but without them, farming would be a much more volatile business and farmers would be much more unlikely to be in the business. Thus cutting supply and making food much more expensive. I wouldn't classify it as being naturally oversupplied. It's a result of the way governments manage the food production.