Forget Fuel Costs, U.S. Farmers Cheer Oil Surge

Not too long ago, a surge in oil prices would have caused a groan of misery from the U.S. farm belt, forced to pay higher prices for tractor fuel and fertilizer. Today, farmers are far more likely to cheer. The farm sector’s response to a surge in fuel costs has inverted for two important reasons:

Hold The Thin Green Line

The following is an excerpt of an opinion piece prepared by former U.S. army general Wesley Clark for theKansasCityStar. A former presidential candidate, Rhodes scholar and graduate of West Point Military Academy, General Clark now serves as co-chairman of Growth Energy. When the United States rationed food during the Second World War so citizens and


Food Inflation Controls May Backfire

Government efforts to control prices, now that food inflation has risen to the top of political agendas across the globe, may hamper a needed increase in supplies, a Cargill director warned Feb. 15. Paul Conway, senior vice-president and board member with the U.S. agribusiness and trading giant, said it was clear that political instability in

Food Prices Hit “Dangerous Levels”

World Bank chief Robert Zoellick says global food prices have reached “dangerous levels,” and warns that their impact could complicate fragile political and social conditions in the Middle East and Central Asia. World Bank data released on Feb. 15 showed higher food prices – mainly for wheat, maize, sugars and edible oils – have pushed


Canada’s Food System Needs An Overhaul

The federal and provincial governments should encourage farmers to ramp up production this year to take advantage of strong prices but also help ease tight world stocks of grain and other commodities, says the Canadian Agri-Food Policy Institute (CAPI) and the Canadian Federation of Independent Business. They issued reports in early February urging gover nments

Canola Futures Slip Despite Industry’s Efforts

Canola futures on the ICE Futures Canada trading platform experienced a setback during the week ended Feb. 11 as the taking of profits and overbought market conditions encouraged selling. The price setback seen in Chicago Board of Trade (CBOT) soybean and soyoil futures also sparked some of the downward price action seen in canola. Support


U.S. Locked Into Ethanol Growth

The U.S. government has few options to slow down the ethanol boom that has played a big role in drawing down corn supplies to their lowest level in 15 years, a top U.S. Agriculture Department official said Feb. 10. “The fact is the industry has pretty much been built,” USDA chief economist Joe Glauber told

Africa, Caribbean Urged To Brace For Food Price Shocks

The World Bank and International Monetary Fund are warning poor regions that have so far not been hit by rising food prices, like sub-Saharan Africa and the Caribbean, to get ready to face them. Food price volatility is here to stay, the World Bank cautioned, amid growing worries there could be another full-blown food crisis


FAO Head Wants New Commodity Rules

Market deregulat ion since 1999 has fuelled speculation on commodities markets, and that needs to be corrected to curb food price volatility, the head of FAO said Feb. 3. “We have created an environment that allows pure speculation,” FAO director general Jacques Diouf told Reuters Insider. “This is something that would require the necessary corrections

U.S. Biodiesel On Life Support, But Smiling

Biodiesel, still a moneylosing proposition in the United States compared to oil-based diesel, is about to have its best year ever thanks to government tax credits and usage mandates. But it will take months for the biodiesel industry to bounce back after being stranded last year, when the government let its six-year subs idy expi