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To: Jurgis Bekepuris who wrote (32542)10/22/2008 9:12:07 AM
From: gcrispin  Respond to of 78753
 
I would argue that ag is in a slump.

I lease land that grows wheat and am paid in a portion of the crop. I sold wheat for fourteen dollars in January. Last month I sold new crop for six dollars. Today the price is four dollars. I got my fertilizer bill and it was sky high in comparison to years past.

The entire world is producing more wheat at the moment. It is most likely marginal land that came back into production. That land will also be the first to come out as farmers try to cut back on expenses.