Profits set to jump 28%, cross $100B mark
(NEWSER) - The rest of us might be bracing for the worst, but US farmers are having a banner year. With prices soaring for crops, farmland, and livestock, farmers are set to score profits of $100.9 billion, a 28% jump, the AP reports. That's the first time the figure has topped the $100 billion mark, and it's joined by two other records: Farms are expected to have more than $100 billion in cash available to cover bills, and crop sales are likely to pass $200 billion. "We're just experiencing the best of times," says an agricultural economist. "It's a story to tell." And due to demand in China, India, and other developing countries for US agricultural exports, some experts are calling this the "new normal." More»
