Why the Worst Drought in 50 Years Won’t Bankrupt American Farmers
Filed under: Economy, Insurance
If you’ve been worried that this year’s drought will put farmers out of business and leave Americans short of the staple crops they need to survive, relax. In its latest farm income forecast, the Department of Agriculture is reporting that U.S. farmers will make more money in 2012 than ever before, even as the country is facing its worst drought in 50 years.
How is this possible? Rising prices, for one. The U.S. is the world’s biggest exporter of corn and soybeans. As the summer’s extreme…
Why the Worst Drought in 50 Years Won’t Bankrupt American Farmers originally appeared on DailyFinance.com on 2012-09-04T12:10:00Z.
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