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Grain commodities really are off to the races & ought not peak for a while.

This in today's N.Y.Times seems to substantiate:

The Food Chain
A Global Need for Grain That Farms Can’t Fill
Dan Koeck for The New York Times

On his North Dakota farm, Dennis Miller has seen wheat prices steadily climb.
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Published: March 9, 2008

LAWTON, N.D. — Whatever Dennis Miller decides to plant this year on his 2,760-acre farm, the world needs. Wheat prices have doubled in the last six months. Corn is on a tear. Barley, sunflower seeds, canola and soybeans are all

Articles in this series will examine growing demands on, and changes in, the world's production of food.

The cost of bread in Nigeria soared in the last year as demand for wheat outstripped supply. More Photos »

“For once, there’s great reason to be optimistic,” Mr. Miller said.

But the prices that have renewed Mr. Miller’s faith in farming are causing pain far and wide. A tailor in Lagos, Nigeria, named Abel Ojuku said recently that he had been forced to cut back on the bread he and his family love.

“If you wanted to buy three loaves, now you buy one,” Mr. Ojuku said.
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