Soft Commodity Prices will keep going up if people keep using their food as fuel for their cars and not themselves. One tank of ethanol for a standard sized car requires about the same amount of maize as to feed a standard sized human for a year. The increasing use of ethanol fuels, particularly in America means that they are forced to import more and more food as ridiculous ethanol subsidies encourage farmers to grow corn for oil (I'm blaming you Al Gore).
Another string to the bow in the Bull market of food is that fact that China is eating more and more meat. China was consuming 20kg of meat per person in 1985, by 2007 that is expected to be 50kg. It takes 8kg of grain to produce one kilo of meat. It's not hard to see where this is going.
Maybe we'll see America embark on a new global security program, this time securing an alternate source of energy, food. Anyway, the upside of it is, there's plenty of compelling reasons to be exposed to soft commodities prices.