Scars of War Remain for Laotian Farmers

(NEWSER) - The various sectors of the global economy have become so entwined with food production that prices are acting in a very “puzzling” manner, the Economist reports. Last year, the market responded rationally to the global food crisis of 2007-08, increasing production and thus lowering prices. But with another bumper crop expected, prices are up, “increasing at a time of plenty.” More»

EU using eyes in the sky to spot subsidy fraud

(NEWSER) - Satellites and spy drones are scanning farmland in the European Union, and their findings can lead to something nearly as damaging as an air strike: a subsidy cut. The EU spends billions every year in farm subsidies, and eyes in the sky are increasingly being used as a tool to search for fraud and waste.Some 70% of EU farm checks are now being done by satellite, although Austria says the shadows cast by mountains make the checks inaccurate, and Scotland has decided its climate is just too cloudy for the technology to be useful. More»

Corn prices may hit record high this year

(NEWSER) - American farmers had been planning the biggest corn planting since World War II this spring, but they're being thwarted by a seed shortage. Drought conditions in the Midwest and Great Plains last year have caused what dealers in the corn belt say is the biggest shortage of top-quality seeds they've ever seen, the Wall Street Journal finds. Corn prices hit a record $8 a bushel last spring, and commodities brokers say another disappointing crop this year could send prices as high as $10. More»

Mekong region's amazing biodiversity under threat, WWF warns

(NEWSER) - It's a region that produces a new species every other day: Carnivorous plants that can eat mice, birds, and lizards. An all-female species of lizard that reproduces by self-cloning. Brightly colored geckos bathed in orange, yellow, blue, and green markings. A noseless monkey that looks like it's wearing an Elvis wig. These are just a few of the 208 new species discovered in the Greater Mekong region last year, reports the World Wildlife Fund . More»

Profits set to jump 28%, cross $100B mark

(NEWSER) - The rest of us might be bracing for the worst, but US farmers are having a banner year. With prices soaring for crops, farmland, and livestock, farmers are set to score profits of $100.9 billion, a 28% jump, the AP reports. That's the first time the figure has topped the $100 billion mark, and it's joined by two other records: Farms are expected to have more than $100 billion in cash available to cover bills, and crop sales are likely to pass $200 billion. "We're just experiencing the best of times," says an agricultural economist. "It's a story to tell." And due to demand in China, India, and other developing countries for US agricultural exports, some experts are calling this the "new normal." More»