The good people at IATP, who consistently get it right on trade and wrong on agrofuels, have come out with a new report. They trace the extent to which speculation was responsible for the food crisis.
From the press release:
According to the United Nations, global food prices rose an estimated 85 percent between April 2007 and April 2008. Prices rose for wheat (60 percent), corn (30 percent) and soybeans (40 percent) beyond what could be explained by supply, demand and other fundamental factors, the report found.
Follow the breadcrumbs in the full pdf report.