Optics or Impact If the perceived seriousness of the U.S. drought is reflected in this Friday's USDA WASDE report, pressure will increase on policymakers to take action. Harris Interactive reports that more than a third of the public already is concerned that the drought will lead to higher food prices. The International Food Policy Research Institute is the first but not the last multilateral organization to come out and demand a "halt" in biofuel production from maize out of concern for rising food prices in poor countries. The ethanol industry obviously is concerned as it unified into a new "Council" to coordinate its efforts influencing future policy. The extent of the drought will determine if any action is taken, but also whether t...