Friday, April 30, 2021

Cornucopia -- Reuters -- April 30, 2021

"Themes - 2021" are linked at the sidebar at the right. One of the 2021 themes:
the US: farmers to the world, cornucopia.

Today, we have this Reuters story: surging US crop prices reverse fortunes in rural Iowa. 

A surge to eight-year highs in U.S. corn and soybean prices is boosting farmers' incomes and their demand for land, tractors and tools. It is a turnaround for the agricultural sector after farmers struggled for years with a series of challenges: an oversupply of grain, former President Donald Trump's trade war with China and then the pandemic.

In western Iowa, where Arkfeld lives, the rise in farm income is helping to revitalize the rural economy, after a deadly flood in 2019 submerged fields and drove some growers out of business. Farm families are spending more at stores that sell clothing, grooming products and home improvement supplies, local businesses said.

Iowa's economy is particularly tied to agriculture as the state is the No. 1 U.S. producer of hogs and corn, as well as home to many seed and agricultural equipment dealerships.

One wonders to what extent slightly higher temperatures, "longer" summers," and slightly higher atmospheric CO2 levels are adding to the cornucopia along the northern tier of the US and along the southern tier of Canada?

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