FARM ECONOMICS: Drought Concerns For Next Season

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Farmers from Iowa and Illinois gathered on Wednesday for the 2012 Farm Economics Summit.

The majority of the conversation centered on the lingering drought.

Despite months of worry, many farmers were able to turn a decent crop this year because of the moisture that was already in the soil.

However, they say, 2013 could be a much different story. The moisture in the soil is now gone, and we need some rain to restore it before the next growing season.

Iowa farmers say corn prices next year need to be at least $5 a bushel in order for them to break even.

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