The weather is wrong in China, at least it is for now, they are not liable to compete with our corn crop.
But they are certainly welcome to try , you are right in enough of your statement that I think you could make the small jump to understand the rest.
Prices are set to get a maximum profit. If they charge too much, customers will find a substitute or do without.
Yes! Cargill always charges as much as they can, who would they be giving free corn to?
So Cargill cannot raise prices they can't and they don't, they just do as well as they can at the auction.
Because the price is not entirely under their control , and won't be until they can form a corn cartel.
Cartels or trusts like that are bad for the consumer , one of the most beneficial roles of government is the use of antitrust laws to encourage the rise of competition, which is very good for consumers.
One of the bad things government can do is nationalize an industry and close down competition, monopoly is the same disadvantage to the consumer even if it is the government forming the cartel.
Patent and copyright laws are intended to give monopoly rights to inventors and authors, in this case the consumer is not disadvantaged unfairly because without the inventor or author the product or composition would not exist , it is only fair to encourage invention and new work by allowing the inventor and author the maximum benefit from their work and investment.
In the case of drugs The US became very good and strong in the international competition by having good patent protection. After the patent expires all drugs become generic.
Not long ago the copyright law was strengthened so that it takes a lot longer for copyright to expire. Who benefits from this? Stephen King ? Stephen Kings estate? Stephen Kings readers?