THE PRICE OF FOOD -- CONTENTS -- PREFACE -- PRICE DETERMINATION IN AGRICULTURALCOMMODITY MARKETS:APRIMER* -- ABSTRACT -- INTRODUCTION -- AGRICULTURAL COMMODITY MARKETFUNDAMENTALS MARKET STRUCTURE AND PRICES -- What's Behind Market Price Differences -- Key Role of Market Information -- COMMODITY FUTURES MARKETS -- Overview -- The Price Basis -- Inter-Contract Price Spreads -- Old-Crop/New-Crop Price Spreads -- USDAMARKET INFORMATION -- Introduction -- Crop Production Reports -- Market Demand Information -- U.S. Government Program Activity -- Market Price Information -- Ending Stocks as a Summary of Market Conditions -- OVERVIEW OF COMMODITY MARKETS -- Macroeconomic Linkages to Commodity Markets -- Special Considerations for Agricultural Markets -- Wheat -- Corn -- Rice -- Cotton -- The Oilseed Complex -- APPENDIX TABLES -- REFERENCES -- GLOBAL AGRICULTURAL SUPPLY ANDDEMAND: FACTORS CONTRIBUTINGTO THE RECENT INCREASE INFOOD COMMODITY PRICES* -- ABSTRACT -- ACKNOWLEDGMENTS -- INTRODUCTION* -- LONG-TERM TRENDS -- REASED MEAT CONSUMPTION MEANSINCREASED DEMAND FOR GRAIN AND PROTEIN FEEDS -- DEVELOPMENTS SINCE 2000 -- THE ROLE OF BIOFUELS -- FURTHER DEVELOPMENTS -- Developments in 2004 -- Developments in 2005/06 -- Developments in 2007 -- POLICY RESPONSES TO RISING FOOD PRICES -- IMPLICATIONS FOR FOOD SECURITY -- FOOD PRICE INFL ATION IMPACT ON SOCIAL UNREST -- SUMMARY OF FACTORS CONTRIBUTINGTO HIGHER FOOD PRICES -- PROSPECTS FOR THE FUTURE -- REFERENCES -- BIOFUELS, INTERNATIONALFOOD PRICES, AND THE POOR1 -- INTRODUCTION -- ENERGY AND AGRICULTURE IN ABROADER CONCEPTUAL FRAMEWORK -- BIOFUELS AND RISING FOOD PRICES -- WOULD THE POOR GO EVEN HUNGRIERWITH MORE BIOFUEL PRODUCTION? -- IMPLICATIONS FOR POLICY -- REFERENCES -- FOOD PRICE INFLATION:CAUSES AND IMPACTS* -- ABSTRACT -- INTRODUCTION -- KEY FACTORS BEHIND HIGHER COMMODITY PRICES.

Robust Domestic Demand -- Global Stocks Are at Low Levels -- Global Consumption Patterns Are Changing -- Weak Dollar Boosts Demand for U.S. Exports -- HOW DO HIGHER COMMODITYPRICES IMPACT CONSUMERS? -- ENERGY COSTS -- FOOD PRICE CHANGES VARY BY FOOD TYPE -- Meat, Poultry, Dairy, and Eggs -- Fruits and Vegetables -- Cereals and Bakery Products -- Oilseeds and Related Products -- IMPACT ON LOW-INCOME HOUSEHOLDS -- FEDERAL SPENDING FOR DOMESTICFOOD ASSISTANCE PROGRAMS -- Food Stamps -- Child Nutrition -- The WIC Program -- FOREIGN FOOD AID -- REFERENCES -- HIGH WHEAT PRICES:WHAT ARE THE ISSUES?* -- ABSTRACT -- BACKGROUND -- KEY FACTORS CONTRIBUTING TOHIGHER WHEAT PRICES IN 2007[4] -- Poor Harvests in Many Major Wheat-Producing Countries -- Limited Export Supplies -- Strong International Demand -- Historically Low U.S. and Global Wheat Stocks -- Substantial Price Premium Emerges for High-Protein Wheats -- Pressures from Other Crops That Compete for the Same Area -- OUTLOOK -- Near-Term Outlook[9] -- Long-Term Outlook[10] -- FOOD PRICE EFFECTS -- Domestic Food Price Inflation -- International Food Prices and Aid -- REFERENCES -- TESTIMONY OF JARED BERNSTEIN,ECONOMIC POLICY INSTITUTE, HOUSECOMMITTEE ON THE BUDGET OF THEUNITED STATES HOUSE OFREPRESENTATIVES, RISING FOOD PRICES:BUDGET CHALLENGES, JULY 30, 2008* -- FOOD, FAMILY BUDGETS,WAGES, AND PRICES -- FOOD PRICES AND FAMILY BUDGETS -- WAGES AND FOOD -- CONCLUSION -- REFERENCES -- TESTIMONY BY STEVE H. HANKE,APPLIEDECONOMICS, THE JOHNS HOPKINSUNIVERSITY AND THE CATO INSTITUTE ONRISING FOOD PRICES: BUDGET CHALLENGESBEFORE COMMITTEE ON THE BUDGET,UNITED STATES HOUSE OFREPRESENTATIVES, JULY 30, 2008.

TESTIMONY OF JACK HUTTNER,BIOREFINERY BUSINESS DEVELOPMENT,GENENCOR, TO THE SENATE COMMITTEE ONENERGY AND NATURAL RESOURCESHEARING: "THE RELATIONSHIP BETWEEN USRENEWABLE FUELS POLICYAND FOOD PRICES", JUNE 12, 2008* -- STATEMENT OF JOSEPH GLAUBER, BEFORETHE COMMITTEE ON ENERGY ANDNATURAL RESOURCES, UNITED STATESSENATE,JUNE 12, 2008 -- KEY FACTORS BEHIND THEINCREASE IN COMMODITY PRICES -- RECENT DEVELOPMENTS IN COMMODITY MARKETS -- Wheat & Coarse Grains -- Rice -- Soybeans -- Fruits and Vegetables -- Livestock and Poultry -- Eggs -- Milk -- EFFECTS OF BIOFUELS PRODUCTIONON COMMODITY PRICES -- EFFECTS OF BIOFUELS PRODUCTIONON GLOBAL FOOD COMMODITY PRICES -- EFFECTS OF BIOFUELS PRODUCTIONON U.S. RETAIL FOOD PRICES -- CONCLUSION -- STATEMENT OF JOSEPH GLAUBER, BEFORETHE JOINT ECONOMIC COMMITTEE, U.S.CONGRESS,MAY 1, 2008 -- RECENT DEVELOPMENTS IN COMMODITY MARKETS -- Wheat & Coarse Grains -- Rice -- Soybeans -- Fruits and Vegetables -- Livestock and Poultry -- Eggs -- Milk -- KEY FACTORS BEHIND THE INCREASEIN RETAIL FOOD PRICES -- RETAIL FOOD PRICE REVIEW AND OUTLOOK -- IMPACTS ON CONSUMERS -- IMPACTS ON DOMESTIC FOOD PROGRAMS -- CONCLUSION -- INDEX.