“Surging U.S. crop prices reverse fortunes in rural Iowa”
April 29, 2021
“A surge to eight-year highs in U.S. corn and soybean prices is boosting farmers’ incomes and their demand for land, tractors and tools. It is a turnaround for the agricultural sector after farmers struggled for years with a series of challenges…
Iowa’s economy is particularly tied to agriculture as the state is the No. 1 U.S. producer of hogs and corn, as well as home to many seed and agricultural equipment dealerships. “When farmers make money, they spend money, which is good for the economy all the way around,” said Bret Hays, a farmer in Malvern, Iowa, in Mills County…
Values for good-quality Midwest farmland rose 4% in last year’s fourth quarter from the third quarter, while repayment rates for non-real-estate farm loans notched their first year-on-year increase in seven years, according to the Federal Reserve Bank of Chicago…”
https://finance.yahoo.com/news/surging-u-crop-prices-reverse-111006458.html
Farmers are making more money. That’s a good thing.