According to the following article, the forecasts for the corn, soybean, and wheat harvest has been reduced substantially, driving up prices.
Kilman, Scott, 2010. Harvest shocker rattles wall street. The Wall Street Journal, Oct. 9.
It is hard to believe that the forecast for corn was significantly cut so close to the end of harvest.
During the past years, corn crops have been large, however carryover supplies are tightening. Perhaps ethanol production continues to have an effect of the overall US corn supply.
This is a story to watch. For about the last year there have been concerns about food inflation, especially in Asia.
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