because the grain market seemingly is being driven by the negative news. And as a result, prices are going up.

As to Argentina, that's what has tended to occur in prior years. But Argentina has created a major self inflicted wound resulting in a nationwide agricultural strike, which has lots and lots of implications.

Argentina Bids To End Farm Strike
Apr 1, 2008 9:49 AM, By Richard Brock

In a bid to resolve a 19-day farm strike that has produced severe food shortages and a major political crisis, Argentina’s economy minister on Monday announced measures to compensate small-scale farmers for the effect of a recent controversial tax hike on soy exports.

Martin Lousteau says the government would offer refunds on export taxes equivalent to the loss that these smaller producers have incurred since the tax was raised under a new system introduced on March 11, when it provoked farmers to block roads and withhold supplies.

Vowing to challenge the heavy concentration of soy production in the hands of a few large producers, Lousteau says the measure would cover 80% of all producers – those who produce just 20% of the country's total output.

Additionally, special transport subsidies will be given to small producers in Argentina's more distant, poorer northern provinces.
Link to Article

There's another issue that's almost certainly going to come up, and that's the adoption and use of bio-engineered corn (like Bayer CropScience LibertyLink corn). All the activists say its unsafe, and they raise all the "Frankenfood" threats and issues. Here's a link to a more balanced outlook:

The other side of the story.

The real issue, long term, is that at least one, if not several options are going to have to start to occur in the near future to alleviate the food shortage issues. Bottom line, is that as in petroleum, food demand is and has been increasing greater than supply (for the last several years).

All the activists shout about "No War For Oil", but will they say the same thing about Food?