Burdened with high grain costs and low milk prices, some dairy farmers have racked up enormous debt, unequaled since the farm crisis of the early 1980s.
In its weekly crop weather report for Minnesota, the U.S.
Department of Agriculture says the soybean and sugarbeet harvests
were 99 percent complete as of Sunday -- well ahead of the
averages.
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The U.S. Agriculture Department will commit hundreds of millions more dollars to boost biofuels production, including ethanol. The announcement could mean big investments in Minnesota, which ranks fourth in ethanol production.
The government and American Indian farmers who
say they were denied farm loans have agreed on terms for a $680
million settlement of a long-running lawsuit.
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The Environmental Protection Agency on Wednesday gave the ethanol industry a long awaited boost, approving 15 percent ethanol blends in gasoline, up from the current limit of 10 percent. But the decision was roundly criticized.
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