ht market skeptics

1) Virtually every country in the world is facing double digits declines in food production (for more info, see Terrible Outlook For 2009 Global Wheat Output and World Still Facing A Global Food Crisis and *****Catastrophic Fall in 2009 Global Food Production*****).
2) World (and US) food stocks are at multi-decade lows.
3) Global demand for agricultural commodities is rising, lead by China.