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It's boom time in the farming sector. Mark

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tjodel Member Profile tjodel  
Tuesday, June 26, 2012 5:05:59 PM
Re: None Post # of 94843 
It's boom time in the farming sector. Mark should be selling these tractors as fast as he can get his hands on them.

Robert J. Samuelson: Subsidized boom time on the farm


By Robert J. Samuelson
Washington Post
Published: May 14, 2012 - 07:24 PM

MARION, IOWA: Sitting in the cab of a $350,000 John Deere tractor pulling a $150,000 Deere corn planter, Greg Carson embodies modern American agriculture. It’s capital-intensive, high-tech, efficient — and now immensely profitable. Looking for a bright spot in the U.S. economy? The farm belt is it.

Driven by high grain and soybean prices, farmers’ cash income hit a record $109 billion in 2011. Land values have followed high crop prices. Since 2006, an average acre of Iowa farmland has doubled. Last year, the increase was 33 percent to $6,708, reports Michael Duffy of Iowa State University. And farms sustain factories. In Cedar Rapids, a few miles from here, Cargill makes corn syrup and soybean oil; ADM produces ethanol; Quaker Oats makes cereal. Iowa’s unemployment rate is now 5.2 percent compared with 8.1 percent nationally.

“In the last 30 or 40 years, these are the best times we’ve seen,” says Kirk Weih of Hertz Farm Management, an advisory firm.

http://www.ohio.com/editorial/robert-j-samuelson-subsidized-boom-time-on-the-farm-1.307048


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