African drought
ALTHOUGH parts of the Horn of Africa have experienced floods, due to the same Indian Ocean Dipole positive event that has left Australia parched, the southern third of the continent is in the grips of severe drought.
This has caused South African government officials to express concern about the current summer crop, in particularly maize.
The conditions are particularly dry in the eastern half of the country, with Limpopo, East Cape and North Cape provinces experiencing significant rainfall deficits.
Further to the north, Zambia and Zimbabwe are also dry, with viral images going around the world of the iconic Victoria Falls, which forms the border between the two nations, currently down to just a trickle due to a lack of rain.
US- Japan FTA
THE US wheat industry is cock-a-hoop over the final ratification of a free trade agreement (FTA) between the US and Japan.
Vice Peterson, president of US Wheat Associates said it would allow the US to compete in the Japanese market against signatories of the Trans Pacific Partnership (TPP) such as Australia and Canada.
"Approval of the US-Japan Trade Agreement is one of the most important trade policy victories in many years for US wheat farmers and their customers in Japan," Mr Peterson said.
Meanwhile the renegotiated US / Mexico / Canada FTA has also been also been signed off, ending an extended period of uncertainty.
Weather certificate pay-out
PROPONENTS of the fledgling weather certificate and index insurance (or index derivatives) industry are pointing to pay-outs for farmers that have taken up the system as proof the system can be used to mitigate climate risk.
Farmers with weather certificates showing the depth of the drought experienced will be able to claim against them and get a payout for failed crops.
Jonathan Barratt, chief executive of Celsius Pro, Australia's largest weather certificate provider, said the concept was that by using weather certificates the farmer transfers adverse weather risk from balance sheets into the risk transfer market.
Early adopter James Gall said he was happy with the system.
"We have used weather certificates for the past two seasons and have found them a great piece of mind in managing our production risk."