An extraordinary meeting of Food and Agriculture Organization (FAO) heard that the overall harvest in 2010 could be the third highest on record.
The FAO's top grain expert, Abdolreza Abbassian, said "there is always concern about important food security crops such as wheat or rice. However, the spillover effects are nothing like we had in 2007-8, because a lot of other conditions that we had in 2007-8 which led to that sort of situation fortunately are not present".
He means the oil price is more stable.
Appeals from UN leaders that speculators should er, not speculate have unsurprisingly fallen on deaf ears.
That’s a bit like telling a dog not to lick his own gonads.
“I wish I could do that”
“Give him a biscuit and he might let you!”