The other view is:
Scorching summer heat in South America is cutting harvest forecasts in one of the world's key farm belts, helping propel crop prices to two-year highs and fueling concerns about tight global supplies.
Dry weather caused by the La Niña weather pattern is already damaging fields in Argentina, which will be the world's second-largest corn exporter this crop year and third-largest soybean exporter, according to U.S. data. With temperatures reaching into the 90s, weather is also threatening crops in southern Brazil and Uruguay, which declared a state of emergency last week for farmers in the north of the country. The region's role in world food markets means any production problems there could be felt around the world.
more can be found at: http://online.wsj.com/article/SB10001424052970204204004576049932838994642.html
So, take your pick of theories. I think the big problem is and will continue to be credit.