Tom Daschle on What Drives Food Prices

With drought continuing to impact the Midwest, and the USDA lowering its estimates for expected yields this year, many analysts and market watchers have suggested the real possibility that the conditions could eventually impact food prices for consumers.

We discussed the topic of food prices last year at the Global Financial Leadership Conference with former Senate Majority Leader Tom Daschle, who also served on the Senate Agriculture Committee while in office.

In the video, he tells us:

“I don’t think there’s any question that markets play an increasingly important role, a valuable role, I’d say invaluable role, as we look at the many, many challenges we face. Because it’s those markets that generate to large extent the demand for greater innovation, the demand for new thinking, and the demand for ways to address these challenges.” 

Debbie Carlson has focused on commodities for much of her writing career. She spent more than a decade at Dow Jones covering the Chicago-based futures exchanges. As a Dow Jones editor, she worked closely with The Wall Street Journal and Barron's in planning commodities coverage.

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