Farmers scramble for profits as grain boom ends

WASHINGTON (Reuters) – American farmers are in a bind this year — land, fuel and seed costs are up but crop prices are down sharply after a three-year, ethanol-fueled boom, say leaders of the largest U.S. farm group.

“We’re looking for less net farm income … The only question is how much less,” said Bob Stallman, president of the 6 million-member American Farm Bureau Federation, in an interview ahead of the group’s annual convention.


…Stallman and the state Farm Bureau presidents in Indiana and South Carolina said there was pervasive anxiety about the pinch on profits.

“We can’t afford to raise the crop,” said Indiana president Don Villwock. “Prices are below the cost of production for corn and soybeans.”

…”The big concern is the input cost,” said Winkles.

Reuters