The real problem is far down the supply chain at the large manufacturers, who are going to have to start to reduce production due to pricing and availability of energy, along with embargo issues. This will effect not this springs crop, but this coming fall seeding in the Northern hemisphere, and the spring seeding in the Southern hemisphere.

So while food prices will obviously go up some this summer, the real question is, how long does this go on, and can the fertilizer manufacturers keep up production this summer in order to have inventory for the fall.