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" ... First, there is the challenge of emerging economies whose populations can now afford to eat better and want to import more. This is good news, but it is putting upward pressure on prices. Frequently, that pressure prompts other countries concerned about access to up their bids or overbuy (ex: the Philippines), to hoard (ex: India and Russia), or to over-subsidize domestic consumption (ex: Pakistan and China), all moves that distort the market and usually create just enough panic to push prices even higher. ... "
" ... While some programs are refundable, others aren’t, so if you don’t overbuy, it makes it easier to look around, especially if you aren’t overwhelmingly happy with your current choice. ... "