Environmental groups failed to show that
seed plants for sugar beets genetically modified to withstand the
popular weed killer Roundup would cause irreparable harm, a federal
appeals court said Friday in overturning an injunction that called
for the destruction of the plants.
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Hedge funds are leading an exodus from agricultural markets, slashing bullish bets in the U.S. from almost the highest levels on record after grain prices slumped, money managers said.
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Genetically modified plants grown from seeds engineered in labs
now provide much of the food we eat. Most corn, soybean and cotton
crops grown in the United States have been genetically modified to
resist pesticides or insects, and corn and soy are common food
ingredients.
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Food prices are expected to rise as much as 4 percent this year, according to the U.S. Department of Agriculture. Meat prices will show some of the biggest gains.
Farmers and investors across the Midwest are bidding up cropland at auctions like the one in Jefferson as commodity prices surge. Farmland values in the central U.S. increased the most in at least two years in the fourth quarter, the Federal Reserve Bank of Kansas City said yesterday.
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U.S. reserves of corn have hit their lowest
level in more than 15 years, reflecting tighter supplies that will
lead to higher food prices in 2011. Increasing demand for corn from
the ethanol industry is a major reason for the decline.
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The U.S. Agriculture Department says farmers will be allowed to grow genetically modified sugar beets this year, while it
finishes work on a full environmental impact statement on the
beets' effect on other crops and the environment.
A judge has dismissed most legal claims
against the University of Minnesota in a lawsuit over licensing
rights to the new SweeTango apple, and ordered the parties into
mediation to try to resolve the dispute.
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