"El Nino Emerges, Raising Fears Over Food Prices"
"An El Nino weather pattern is underway and will last until winter, Japan said on Friday, foreshadowing disruptive conditions that could harm crops from Australia to India at a time of rising fears about global food supplies."
"Corn prices have surged more than 60 percent in the past two months as the United States reels from the worst drought in more than 50 years, while global soy supplies are also tight after drought in South America.
Data suggested the El Nino phenomenon had emerged, the Japan Meteorological Agency said, referring to conditions in the equatorial Pacific.
'The chances are high that the El Nino phenomenon will be maintained until the winter,' the agency said in a statement."Source: Reuters, 08/14/2012