The Rice and Grain Shortage of 2008

A few weeks ago, I flagged reports of a global grain shortage--caused among other things by persistent droughts in Australia and elsewhere. The wheat shortage was causing political problems in Pakistan. (When people can't afford bread, they tend to get pissed off.) Now I see that rice is suddenly a hot commodity too, it's price just went up 50 percent in two weeks.   

There a trend going on here?

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