And right now, the circumstances are in flux. But the market is adjusting. This means more waste and fewer profits on the short term. But the market is still working.Getting all the food eaten is distribution problem that the market can't solve. The market solves for maximum profit under the circumstances... which is a different problem.
It's not one production line, but many. Some will shut down, while others will work around the clock. (And journalists will point at each as proof that the system is failing, click here to know more...) Some workers will be on unemployment, and others will work overtime.
This isn't an efficient use of resources, but it's as efficient a use of information, as we have thus far devised. When the distribution gets too efficient with resources, it operates nearly information free, and that's the failure state Augustus keeps talking about.
The good news is Americans have wide margins, so this will be felt as changing margins. The bad news is we still export a lot of food, often to places with much narrower margins. Just as huge ethanol subsidies led to grain shortages abroad, stocking up for a last minute "prep" will magnify the shortages felt in those places, and the marginal price differences Americans will see.