US Predicts Bumper Crops Will Ease Food Crisis

Record-breaking grain harvests worldwide expected to bring prices back down
By Rob Quinn,  Newser Staff
Posted May 10, 2008 9:11 AM CDT
A Cambodian man carries rice at a paddy rice farm in Bekpeang village, Kampong Cham province, about 45 kilometers (28 miles) north of Phnom Penh, Cambodia, Wednesday, May 7, 2008.    (AP Photo/Heng Sinith)
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(Newser) – Farmers worldwide will reap record-breaking harvests of wheat and rice this year, the US projects, and the news is expected to ease some of the worldwide concern about food prices. The USDA says good weather will bring bumper crops that will replenish depleted stocks, Reuters reports. Analysts warned, however, that prices will remain high for some time and that the world's poor will still need food aid.

"This should take the edge off commodity prices," said one US analyst.