Neil Harl News
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Even after the worst drought in a half century shriveled crops from Ohio to Nebraska, U.S. farmers are having their most-profitable year ever because of record- high prices and insurance claims.
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The best second-half for commodities in a generation is pushing U.S. farm incomes and agricultural land prices toward record highs.
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The Iowa caucuses have long drawn criticism for taking place in a state too rural, old and white to winnow U.S. presidential aspirants.
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The same record food prices causing riots in Algeria and export bans in India are allowing President Barack Obama to combine the biggest-ever U.S. farm exports with the tamest inflation since the 1960s.
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This year’s agriculture boom is a bust for U.S. dairy farmers as surging costs for cattle feed compound a glut of milk products.
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The U.S. may ship the most beef ever in 2011, after doubling its share of the world market in four years, as demand from Asia revives a $3.84 billion export industry decimated by mad-cow disease.
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The jump in commodity prices last year improved the financial health of U.S. farmers, sending Midwest cropland to record values and boosting profits for rural banks and equipment makers, a Federal Reserve report concluded.
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