Dumping kills local producers thus eliminating competition, it makes perfect business sense if you have our level of capacity,but it's not a very friendly kind of globalism. We found out that wheat actually burns pretty well, and you can use butter for other things than eating. We can't just give it away, that would destabilize prices too much.
To a certain extent however, this is a discussion from the last decades. Farm subsidies are no longer as prevalent, and we aren't hoarding mountains of produce to dominate prices like, say the diamond industry.