EU sees good grain harvest, a positive sign for lower food prices

BRUSSELS (AFP) - European grain harvests will improve this year, the EU predicted Thursday, in line with northern hemisphere trends that are pushing down world prices after months of food protests by the world's poorest. The latest predictions provide "a positive sign" toward the possibility of food prices falling in future, though other elements are in play, a commission spokeswoman said. Elsewhere is more good news for those suffering from the soaring food prices. In the United States, the world's biggest wheat exporter, production is also expected to rise in the key month of August, according to analysts. Meanwhile Australia, where harvests were badly hit by drought last year, has enjoyed propitious rainfall in recent weeks. The total "cereals" harvest -- which includes potato, sunflower and sugar beet yields -- will be... [read full story]