U.S. sees record world food crops easing crisis - HotNews

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WASHINGTON (Reuters) - Good weather will help the world's farmers reap record wheat and rice crops this year, the U.S. government said on Friday, which should allay fears of shortages and help bring prices down from current high levels.

By Charles AbbottWASHINGTON (Reuters) - Good weather will help the world's farmers reap record wheat and rice crops this year, the U.S. government said on Friday, which should allay fears of shortages and help bring prices down from current high levels.The U.S. Agriculture Department also forecast a record global crop of feed grain, used to feed livestock.The USDA announcement was expected to calm fears of food shortages, worsened by the cyclone that hit Myanmar's rich rice-producing Irrawaddy delta last week, and by a larger than expected 500,000 metric ton Malaysian rice purchase on Thursday.Disappointing harvests, the boom in biofuels and higher meat consumption have pushed up grain prices in the past two years, raising food prices and sparking protests in some 40 poorer countries whose people have felt the effect most strongly.Officials at the U.N. Human Rights Council said it would hold a special session on May 23 to assess the effect of the food crisis on the right to food of millions of people suffering from high prices, notably in sub-Saharan Africa and South Asia."We're keeping our fingers crossed that we get good harvests this year ... and that it brings prices down some from their high peaks," said analyst David Orden of the International Food Policy Research Institute, a think tank.Even with bountiful crops, Orden said, larger international food aid efforts would be vital because prices would be higher than usual for the next couple of years at least.The USDA said the world wheat crop would rise 8 percent to a record 656 million metric tons in 2008/09. It projected global rice output at a record 432 million metric tons, up 5 million metric tons from 2007/08.

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