The usual way is to roughly divide the length into three, the centre is left parallel, left and right ends turned to a slight taper and then blend the three with a file.
Have a look at this post of mine about crowning a pully/flywheel its the same method.
Depending on the radius at each end you may get away with a round nose tool or it can be done will a ball turner set to turn concave like this, the ends are then machined to the rectangular section
J
Hopefully Andrew Johnson will see this as he has just posted the machining of a couple of conrods with a template follower on TT, I won't steal his thunder and post the pics here, he can do that.
Edited By JasonB on 06/11/2012 19:02:41