Rising food prices don't blame fuel costs

The rising prices of fuel at the pumps with costs rising at the grocery store, but Ohio State University agricultural economist say the two are not related as much as people think. "Besides transporting food from the farm to processors and then to retailers, fuel prices can affect the cost of food production in many ways, says Ian Sheldon, a researcher with the University's Ohio Agricultural Research and Development Center.

"But many other factors influence food prices at the grocery store", says Sheldon, who is also the Andersons Professor of International Trade in Ohio State's Department of Agricultural, Environmental and Development Economics and has an appointment with Ohio State University Extension. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers

Corn tumbles on outside pressure

US corn futures tumbled under pressure from external markets Wednesday, with falling crude oil and the climbing US dollar attracting selling across commodities in general. Concerns about the world economy were seen as a negative factor for commodities as fears mounted about Greece.

Traders looked to external markets for direction, as they await updated crop estimates June 30, after farmers aggressively finished plantings last week, said Tim Hannagan, analyst with PFGBest, a brokerage firm in Chicago. Crude oil is linked to the grains because ethanol is made from corn and funds often trade in a basket of commodities. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers

UK Group calls current food policy inadequate

A new report released Friday in the United Kingdom says the country cannot rely on the market to create a more sustainable food chain. The report was released by the Sustainable Development Commission.

UK consumer food prices in January rose 6.3 percent for the year, which more than doubled the average across Europe. And those prices are likely to climb further as oil prices go up and demand for basic commodities like wheat increases, the report says. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.