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September 5, 2008 11:41:19 PM CDT

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Boom Time on Heartland Farms

Posted Feb 15, 08 2:55 AM CST in US,  Business 

(Newser) – The US economy may be teetering on a precipice but agriculture is enjoying what one industry analyst is calling a "golden age" after decades of decline, with bountiful harvests of crops and profits. The boom is fueled by the soaring demand from ethanol producers and to fill grain orders from China and India, reports the Wall Street Journal.

In one central Nebraska farming community, evidence of new wealth is everywhere as people build new outsize homes, buy luxury cars, and install hot tubs and 65-inch TVs. "Right now, if all you're raising are corn and soybeans, you're on easy street," said a county commissioner.

Source Wall Street Journal

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Corn stalks are seen near New Berlin, Ill., in this Tuesday, June 19, 2007 file photo. U.S. farmers planted 19 percent more corn this season than a year ago to capture record high market prices, fueled...   (Associated Press)
Truck driver Nate Henry watches as Tyson Zunkel dumps a load of wheat as they work for a custom cutting crew harvesting wheat in a field west of Mullinville, Kan. in this June 19, 2007 file photo. ...   (Associated Press)
Central Illinois farmer Larry Alexander walks back to his tuck after dumping his load of corn at the Farmers Elevator Company in Auburn, Ill., After decades of decline, America's heartland farms are enjoying...   (Associated Press)
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biofuel  • agriculture  • ethanol  • farmer  • corn  • Nebraska  • wheat  • Credit Suisse  • rice  • agricultural economy  • Cedar Rapids  • grains  • Food and Agriculture Organization  • rural America  • cash crops


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