The latest crop to make headlines for sky-high prices is rice, raising fears of social unrest across Asia.

Yesterday, rice prices soared 30% after Egypt banned exports of the staple to keep domestic prices down. India has also restricted exports of rice.

Global rice stocks are at their lowest since 1976.

I’m bullish on agriculture.

I first turned bullish in 2005 when I realized the ethanol boom would consume a third of the U.S. annual corn crop. As I investigated this story, I realized global population growth, rising prosperity in Asia and around the world, shortages of arable land and clean water… and a bull market in commodities… would send agriculture prices through the roof.

The US dollar neared new lows against the euro. The US currencies woes were exacerbated by a private-sector report showing that US firms unexpectedly shed workers last month.According to the Bloomberg news agency: “The dollar weakened to $1.5232 per euro at 9:01 a.m. in New York, from $1.5217 yesterday.”

Meanwhile, sterling fell to a record low against the euro as a UK industry report reveled fall in British consumer confidence.

Curbing rising inflation and economic overheating are China’s top fiscal priorities for 2008, according to China’s head of state, Wen Jibao.

Wen said yesterday that China is seeking to cap inflation at 4.8% this year.

Recent winter storms in the southern China have pushed up food prices, and inflation in January has an 11-year high of 7.1%.