Irregular weather conditions are causing prices of grains such as corn, wheat and soybeans to shoot up. The most vulnerable people in this situation are the poor in developing countries that rely heavily on food imports. Officials of international organizations such as the United Nations and the World Bank, and leaders of the major economies, should strive to reduce market uncertainty.

The U.N. Food and Agriculture Organization announced Aug. 9 that its price index for major foodstuffs in July rose 6 percent from the previous month. The prices had been falling since April but started to rise in July.

The main reason for the price rises is a drought that has hit the United States' Midwest and hurt the production of corn and soy beans. The region accounts for about 40 percent of the world's production of these crops. The drought — the most severe the Midwest has experienced in 56 years — has raised concerns about future supplies of those agricultural products. In such a situation, speculative funds tend to flow into markets, causing price increases.