They've bottomed out.
As far as American boycotts on French wine go it may have helped keep some prices from rising, but the quality French wines have just shifted to other international (particularly Asian) markets.
Yes. To be serious for a moment, this isn't an uncommon phenomenon during big harvest years - lots of nice, fat, water-laden grapes...that make lousy wine. The Aussies went through a bit of this last year. It happens.
Now, on to bash-the-French night! You know why the Muzzies are burning the cars in Paris? In case the German army wants to march in at night...