Monday, February 6, 2012

"Flooded Aussie cotton farms brace for more rain"

Cotton was recently down .08 at 98.26.
From Agrimoney:
Cotton growers in Australia are bracing for further rain, potentially extending the flooding which may damage up to 10% of the national crop of the fibre, besides sugar cane, soybeans and sorghum.
Eastern Australia which is in some areas suffering worse flooding than in the inundations which followed storms including Cyclone Yasi a year ago, is expected to receive another 25mm-50mm of rain later this week, Australia & New Zealand Bank said.
The rains threaten to extend the period of inundation which is a key factor in determining damage.
"The speed at which the water subsides and how quickly soils stay waterlogged will be key in determining any impact on yields," ANZ analyst Paul Deane said.
'Extensive damage'
The New South Wales government estimated on Monday that 570,000 hectares of land is flooded in north central and north western areas, with "widespread" inundation causing "extensive damage to agriculture industries, including sugar cane and soybean crops" on the north coast....MORE