Yes, and there will be big surpluses of corn again, for about the 50th year in a row.
Just looking at the USDA site and their forecast for the 2010/2011 year was just 730 million bushels surplus and the 2011/12 year just 900 MB. These surpluses are less than half of the lowest supluses in earlier years and 11/12 is definitely just a forecast.