Alan Bjerga examined, in his excellent book "Endless Appetites," the behavior of markets during the food price spikes of 2007-8 and 2010.
Well, as expected, it's happening again . US droughts and excessive UK rainfall have damaged grain crops in both nations.
In our October 20 blog entry, we gave a link to a BBC story centered on the US drought. The price rises are essentially inevitable in the near term.
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