China’s Wheat Basket Faces Its Worst Drought In 200 Years

Wednesday, February 9, 2011
By Paul Martin

Gus Lubin
BusinessInsider.com
Feb. 8, 2011

China’s wheat basket, Shangdong Province, is stuck in the worst drought in 60 years. If weather forecasts hold true, this will be the worst drought in 200 years, according to Xinhua.

The government has already declared a state emergency to send relief to the province, including trucks full of drinking water and special equipment to irrigate the fields.

The Three Gorges Dam is at its lowest level in years as reserves are depleted, according to Xinhua.

As for global wheat prices, we’re up nearly 2% today as part of a year-long surge.

The Rest…HERE

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