Cash bids on corn are up ~70% from last year. The production figures do not suggest to me that the supply is constrained on the production side to justify a jum

Cash bids on corn are up ~70% from last year. The production figures do not suggest to me that the supply is constrained on the production side to justify a jump that large. Especially when we're seeing large increases across all kinds of commodities in unison, suggesting there is something else going on. Are people currently holding onto such resources as a hedge against inflation or what may be driving it?