*Soybeans rise on Chinese purchases, Argentina's supply woes. SINGAPORE, May 9- U.S. soybean futures rose for a second session on Monday as strong demand from top importer China and concerns over crop damage in Argentina buoyed the market. The Chicago Board Of Trade most-active soybean contract rose 0.4 percent to $10.38-1/ 2 a bushel by 0228 GMT, having firmed 2.2... » Read More
Farmers with the money and equipment to irrigate are running wells dry in an unseasonably early and particularly brutal national drought that some say could rival the Dust Bowl days. The pain has spread across 14 states, from Florida, where severe water restrictions are in place, to Arizona, the New York Times reports.
China's government has got an ambitious plan to divert trillions of gallons of water from the Yangtze River to quench the thirst of the millions of Chinese in the country's north plain. But the expensive plan is raising a lot of eyebrows. The NYT reports.