Sens. Charles Grassley and Byron Dorgan today urged U.S. Agriculture
Secretary Ed Schafer to write strict eligibility rules for farm subsidies as
the administration implements the 2008 farm bill.
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U.S. President George W. Bush and leaders from other Group of Eight
nations on Tuesday called for an end to export controls on food in an effort to
combat soaring food prices. However, they stopped short of blaming biofuels for
the rising price of food.
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Both Brad Lindstrom and Dan Pedersen missed out on last week's
thunderstorms, but they're hoping to get some rain in the coming days.
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In each of the last six instances that corn futures prices spiked,
prices inevitably fell. While the probable price decline of corn futures won't
happen for some time, the previously unimaginable highs that could be reached
will eventually take their toll on everyone from ethanol plants to farmers.
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With all the variables in planning for the 2009 growing season,
producers need to do everything possible to build a working capital account,
or, in other words, a reserve cash pool.
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