Chris Damas submits:
I have a small news clipping saved on my desk (from the AFP newswire) about the Russian drought. It’s dated July 11, 2010 and I plan to paste it to my forehead this weekend. Because I didn’t pay enough attention to it. The small clipping has became a big story over the past 2 days.
Yu Ruicheng's weathered face creases with worry as she stands on her dry wheat field in eastern China, where a record drought is threatening to send soaring global food prices even higher."If it doesn't rain next month, we won't harvest anything," the 62-year-old farmer says, crouching down and sifting parched soil through her fingers, pointing to dried-up wheat shoots scattered across her plot of land.
Prices of corn, soybeans and wheat are likely to decline this year, according to the latest forecast from the U.S. Department of Agriculture.
Although farmers are going into this season with the ground still extremely dry after last year’s record-breaking drought, the USDA still expects good yields this year.
Weather, like the winter storm which blew through the southern Great Plains this week bringing relief from the drought conditions which have lingered since summer, will be a ...
Marc Chandler submits:In a time when there is much discussion of peak oil and the idea that other commodities are less abundant or more costly to access, one issue that might not get enough attention among investors is the shortage of water. Some political scientists, for example, have suggested that the next war in the Middle East may be over water, not oil. Grain is very water-intensive. Roughly speaking, it takes 1,000 tons (100 cubic meters) to grow a ton of grain.
By T. Marc Schober:Warm and dry weather allowed farmers to enter their fields to plant the 2014 corn crop over the past weekend.The USDA estimated 29% of corn acres were planted across the U.S. as of May 4th, a 10% increase from the prior week. The progress is still behind the five-year average of 42%. Of the corn planted, 7% has emerged, 4% above reported levels last year, but 6% below the five-year average.
By Laura Philomin and Stuart GrudgingsSINGAPORE/KUALA LUMPUR (Reuters) - Singapore and Malaysia are grappling with some of the driest weather they have ever seen, forcing the tiny city-state to ramp up supplies of recycled water while its neighbor rations reserves amid disruptions to farming and fisheries.Singapore, which experiences tropical downpours on most days, suffered its longest dry spell on record between January 13 and February 8 and has had little rain since.
Melissa Block speaks with Chris Hurt, a professor of agricultural economics at Purdue University, about the global rise in wheat prices. Wheat prices held just below a two-year high Friday.» E-Mail This » Add to Del.icio.us