Demand helps drive commodity, food price increases
OAK BROOK Ill. -- Two "persistent demand shocks" -- corn for biofuels production and U.S. soybean exports to China -- are in the "mix of factors" causing commodity and food price increases in recent months, according to a new study by the Farm Foundation.
The report, What's Driving Food Prices in 2011?, cites other factors as weather-related production shortfalls, changes in cropping patterns and a weak and volatile U.S. dollar.
Key factors in the report include:
Biofuels policy mandates and blending limitations have generated a large, persistent and non-price responsive demand. . .
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