WARRNAMBOOL, Australia (Reuters) - Dairy farmers in the tiny Australian town of Warrnambool, battered in recent years by drought, a stubbornly high currency and a bruising supermarket war over milk prices, are on the cusp of a much welcome windfall.
While many farmers and politicians acknowledge it's time to end direct payments to farmers, many argue that crop insurance payments are still needed to help them hedge their bets against the next big disaster.» E-Mail This » Add to Del.icio.us
A drought that has gripped the southwestern corner of Australia since the 1970s is linked with higher snowfall in East Antarctica, a phenomenon that may be rooted in global warming, scientists reported on Sunday.Researchers Tas van Ommen and Vin Morgan of the Australian Antarctic Division said that the drought -- which has seen winter rainfall decline by 15-20 percent -- is extremely unusual when compared with the last 750 years.Hand in hand with the drought is a similarly exceptional rise in snowfall at Law Dome, an icecap on the coast of East Antarctica.
By James Roemer:
As the U.S. Drought Eases
The big weather news, other than the storms that have finally brought winter from coast to coast, is our forecast a few weeks ago of an easing in the U.S. drought. This has had bearish implications for the corn and wheat markets especially with the best moisture in 2 years blanketing Iowa, Nebraska and Kansas, while the deep south has seen rains as well.
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