Actually, GW could bring us catastrophic crop failures even (or even more yet !) with rising oil supplies. We are basically seeing it now in Australia, Ukraine, Russia, France: all are at least -25% below expectations, if not more. And the first 3 in my list are talking of closing exports, of course.

Catastrophic crops will kill hundreds of millions in the next few years, but western countries will not come up with a grain-equivalent of the IEA strategic reserves until there is a bad price-rationing in a developed nation. I expect this could occur soon at the US agribusiness level of the supply chain, if we get the same crops for a few more years, keep on the biofuel craze, and the eastern block cuts its exports to keep a lid on domestic prices. Given the job and money weight of US agribusiness, hopefully they will shout out loud enough.

Pierre