Farm profits to fall second consecutive year
The abundance of grain leftover from last year's crop and 2015's anticipated harvest of the third-largest corn crop and second-largest soybean crop on record have kept prices below the cost of production, while the cost of seed, fertilizer and land has dropped only slightly. "A lot of the cash reserves that we've built up over the past few years, that's what we're burning through right now to offset this lost income," said Chad Hart, an agricultural economist at Iowa State University. Government payments including crop insurance... Читать дальше...