Joellen Perry, writing in today’s Wall Street Journal, reported that, “The global rise in food prices is catching up with continental Europe, adding to mounting inflation worries and forcing changes to European Union agriculture policy…Rising global food demand, freakish weather and the trend to reroute crops for biofuels are pushing up food-commodity prices globally. Standard & Poor’s GSCI Excess Return Index, which measures the price movements of eight agriculture commodities — including wheat, sugar and corn — is up 10% in the past year.”
I. Farm Bill
II. CAP- EU Food Prices
I. Farm Bill
In local coverage of the 2007 Farm Bill debate, Kendall Owens, reported in Friday’s Times-Herald (Forrest City, Arkansas), that, Rep. Marion Berry (D-Arkansas), in a talk to a group of Arkansas farmers, stated that, “‘There’s still some work to do on farm credit, and we didn’t get everything we wanted, but I can say that this is the only bill that I’ve ever seen where the chairman of the committee called every stakeholder into his office and asked if there was anything that needed to be added to the bill before it went to before the House. No one asked for anything additional, but it was just that extra effort that was really appreciated. Nobody got everything they wanted, but everybody got something that they needed,’ he said. (Graph from the Wall Street Journal Online).
“Berry told the farmers that if the bill passes in the Senate, President Bush has threatened to veto.”
With respect to the veto issue, Secretary of Agriculture Mike Johanns, in a speech delivered on Thursday to the Tennessee Farm Bureau Federation, noted that, “So the [Farm Bill] process is moving along as we hoped it would. I will also tell you that my boss, the President of the United States, wants to sign a Farm Bill before the year is over. For me, success is not bringing a Farm Bill to him that we say, Mr. President, you can’t sign this, you need to veto it. That’s not success for me. For me, success is to walk in and say, we have a Farm Bill that you can be proud to sign, that we can put our signature on this, you can put your signature on it, Mr. President. That will be success for me.
“But we’ve got some work to do.”