Here is one of many similar articles that I've read over the past few weeks. It is only the latest example of the growing concern world-wide that the biofuels trend is having on food prices. Congress' mandates for biofuels is bound to cause grain prices to continue higher and higher in the months to come.
Corn, Soybeans Rise on Panic Buying
Here is another from the New York Times, admittedly not one of my favorite news sources (since it often has the appearance of being politically-driven, rather than news-driven):
Fuel Choices, Food Crises, and Finger-Pointing
Perhaps the biofuel craze is a true bubble. If so, then as it gains more and more scrutiny and people realize that it is a false answer to the energy problem, perhaps this bubble, too, will pop. And since the planting of corn and soybeans displaces other food crops, the price of many agricultural food crops -- including even meat -- would also drop. This is the one of the real causes of higher food costs, not traders. Another is the refusal of the United States to develop its own energy resources, including the vast known oil reserves off the Atlantic shelf of the United States.
Why don't we all write Congress and help them wake up?
