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High crop prices mean good outlook for Minn. farmers...
Source: KXNet.com
February 25, 2008
MOORHEAD, Minn. (AP) As spring planting time approaches, Minnesota farmers are looking at the possibility of record profits this year.

Crop prices are at record levels, with some analysts predicting farmers could clear $100 or more per acre. The Department of Agriculture estimates farm income will be 51 percent higher than the 10-year average.

So why are some farmers still nervous? It's because planting crops costs more than ever before.

Jeff Mortenson says fuel and fertilizer costs about twice as much as it did a couple of years ago for his land in the northwest tip of the state. Crop insurance costs have gone up, too.

Still, Mortenson says he's happy that for the first time in 11 years of farming he was able to start paying down some debt.

North Dakota State University Farm Management Specialist Andy Swenson says he expects high crop prices to last for several years.

Information from: Minnesota Public Radio News, http://www.mpr.org


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