I am pleased to participate to the discussion presenting FAO's GIEWS near-real time tools to monitor drought and food prices.
Global Information and Early Warning System on Food and Agriculture (GIEWS) monitors the condition of major food crops across the globe to assess production prospects. To support the analysis and supplement ground-based information, GIEWS utilizes remote sensing data that can provide a valuable insight on water availability and vegetation health during the cropping seasons. In addition to rainfall estimates and the Normalized Difference Vegetation Index (NDVI), GIEWS and FAO's OCB Division have developed the Agricultural Stress Index (ASI), a quick-look indicator for the early identification of agricultural areas probably affected by dry spells, or drought in extreme cases.
Food prices: http://www.fao.org/giews/food-prices/home/en/
This web site contains latest information and analysis on domestic prices of basic foods mainly in developing countries, complementing FAO analysis on international markets. It provides early warning on high food prices at country level that may negatively affect food security. All data used in the analysis can be found in the FPMA Tool.