Upon further examination, it appears possible that the questioner was not asking about hominy at all - see here: http://en.wikipedia.org/wiki/Homity_pie.
Hominy is nothing more than the kernel of the corn after the germ and hull have been stripped and the kernel has been dried. Referred to grits and it yellow speckled in appearance. A s-Southern staple.
It actually is corn. It's been treated with lime water. What happens and what the Native Americans and Aztec discovered is that it does a couple of thing---first it keeps it from sprouting after it's been soaked and died for storage; and most importantly corn has some nutrients like niacin and B vitamins those are locked up and don't digest with raw corn. The soaking process in the lime water unlocks those nutrients for the body to use.
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