April 21, 2010
The truth about what drove up grain prices
The Politico’s David Rogers writes about what really drove up corn and other grain prices in 2008: rampant speculation in the derivatives market. While the Grocery Manufacturers Association and the Big Oil companies like to blame ethanol for rising food prices, Rogers reports that “the sheer crush of new swap traders and index funds appeared to distort the markets” and push up commodity prices.
