[lbo-talk] Food Prices Again

[brad]

@ Gar- I agree with most of what you said and you offer a clear
explanation of what happened.  But this part:"One of the fundamentals
driving that price bubble was rich nations buying grain and soybeans
to make ethanol and biodiesel - in essence power automobiles with
food." I don't understand.  I know this is a common view on both the
left and most of the mainstream.  But how exactly did ethanol cause
the price of wheat to rise before the price of corn went up?  How did
ethanol cause the price of rise to go up when clearly they are not
substitutes on either the production or consumption side?

Brad