On Tuesday the Earth Policy Institute held a webinar concerning the fast rising price in wheat and other small grains as a result of Russia’s announcement last week of cutting off exports of those commodities for the duration of 2010.

The severe drought over there is threatening yields and Russians anticipate a loss large enough that it can only meet its domestic demands.

The EPI, however, is an environmental organization based in Washington., D.C., founded by Lester Brown, touted as “the guru of the global environmental movement.” Brown was set to keynote this webinar with the sharp increase of wheat cash futures, along with corn as well, within hours of Russia’s announcement.

Raising the specter of food riots in 30 countries over the record-breaking cash future run-up of grains in 2007-2008, Brown said business as usual in food production, will be common place, as being seen in Russia.

Oh, come off it.

There was no justification for the sharp spike in futures grain prices last week, especially with the huge surplus carryover of wheat around the world, and in particularly, in the U.S.

It was non-commercial daytraders who saw a chance to buy up gobs of grain, causing the market to soar and then selling off to make a quick profit. The market practically corrected itself as soon as it shot up.

Perhaps the players still carry a guilty-conscience for the food riots they caused three years ago.

I’m still convinced that there remains no shortage of ability to produce food, but in distributing it to people who need it.

Daytraders create market frenzy for the sake of quick profit-taking, making food and feed unaffordable; warlords intercept food supplies to feed their own kind, allowing other ethnic groups to starve; climate, as we’re seeing in Russia’s drought and the Midwest’s ultra-wet conditions, all work to create food emergencies.

Don’t blame farmers or the way they produce food as the reason why people are going hungry.

Farmers are aggressively looking for more efficient ways to produce vegetables and meat to consumers, while doing it as lightly on the land as possible.

The Telegraph of Calcutta touted Brown as “one of the world’s most influential thinkers.” If that’s true, how about he solve the politics of food distribution, and, while he’s at it, find a cure for unseasonable weather patterns.

Have a good week.