As I believe I clearly showed ( http://theclearview.files.wordpress.com/2011/02/foodproductionvsprices2009-10b.png) , food production was either up or flat for all but wheat... yet they all spiked in price regardless of production and supplies.
I just checked cotton as well - production likewise is up - 14% over last year. But prices are up 140%. There is widespread government stockpiling and private hoarding in all these commodities (partly inspired by expected rises), which also again further affects price and availability.
This Huffington Post article is grossly mistaken as to the cause. As is
Paul Krugman.
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The Huff post article made the same claim as you, that fundamentals
do not explain the rise. I agree with you, contra Krugman, that the
fundamentals explain very little and actually act as a cover for the
speculative frenzy that is the real cause. The connection you make
between the rise in all commodities and only one or a few having
reduced production and stocks is true. It points to the role of
commodity index funds that lump commodities together as an explanation
for the rise in all commodities at once. The other good example is
the one I am using: the rise and decline of commodity prices in 2008
correlates with the number and value of investments in commodity
futures markets.
Brad
