La. floodgate opens, diverting Mississippi River

Wiki Commons Photo

Associated Press

MORGANZA, La. – A steel, 10-ton floodgate was slowly raised Saturday for the first time in nearly four decades, unleashing a torrent of water from the Mississippi River, away from heavily populated areas downstream.

The water spit out slowly at first, then began gushing like a waterfall as it headed to swamp as much as 3,000 square miles of Cajun countryside known for small farms and fish camps. Some places could wind up under as much as 25 feet of water.

Opening the Morganza spillway diverts water away from Baton Rouge and New Orleans, and the numerous oil refineries and chemical plants along the lower reaches of the Mississippi.

Australia floods: Food prices 'to rise 30%

BBC News

Food prices in Australia could rise by as much as 30% in the coming months as a result of the Queensland floods, it has been warned.

The investment bank JP Morgan says it expects food prices to spike, which will also push up headline inflation.

The bank's chief economist in Australia said 50% of crops had been affected by the floods, with 20% wiped out.

Stephen Walters also told the BBC that rises in Australia could have a knock-on impact on prices in Asia.

JP Morgan also said that coal mining had been significantly damaged and estimated that the floods would shave 0.4% off GDP growth in the last quarter of 2010 and the first three months of 2011.

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