Food and Fuel Resource Center

Food and Fuel: The Dynamics of Commodity Prices

Domestic and global commodity and food prices have escalated rapidly in the last two years. There has been increasing concern and debate on the role that US biofuels production plays in those price dynamics. The purpose of this page is to provide information and resources so that individuals can better understand the interaction between biofuels production and other factors in recent food price increases.

We've tried to cull the most useful recent resources from the mountain of information that exists. Below, you will find recent presentations by UW-Madison and USDA Agricultural Economists. In addition, we have gathered links to select publications by national and international organizations, a website on commodity prices by AAE faculty Brian Gould, and an inteview from PBS.

Presentations

Jeremy Foltz (AAE faculty, PATS co-director) presentation from Western District Meeting - May 2008

Randy Fortenbery and Bruce Jones (AAE faculty) Wisline presentation - May 2008

USDA presentation by Ron Trostle - June 2008 (Click on "Factors contributing to recent increases in commodity prices")

Resources

American Agricultural Economics Association Articles on global community prices in Choices publication- July 2008

• 22 page series of articles addressing the question of weather commodity price increases are"symptomatic of a massive change in agricultural commodity markets, or a short–term response to a collision between policy change, short carry–over stocks, and unpredictable weather?"

USDA/ERS Report on global community prices - May 2008

• 30 page report with many charts and graphs explaining the various factors contributing to recent food price hikes

OECD/FAO agricultural outlook summary - June 2008

• 5 page summary of current and future commodity prices and policy recommendations

International Monetary Fund magazine article on commodity price boom - March 2008

• 6 page article on commodity price trends and their financial implications, includes a world map of "winners and losers."

AAE Faculty Brian Gould's market data site - continually updated

• commodity price data and displays for all grains, updated regularly

PBS interview with Kofi Annan on African food crisis - June 11, 2008

• KOFI ANNAN, Former U.N. Secretary-General, briefly discusses the food crisis and food production in Africa

Farm Foundation Report - July 2008

• Written by Purdue University economists Wallace Tyner, Christopher Hurt and Philip Abbott, examines the interplay of the various forces driving food prices

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