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KIMT NEWS 3 – Across the nation more and more people are picking up farming, but there are a lot of factors that play a role in whether or not they’re successful, and right now, it’s starting to get a bit more difficult.
According to the Iowa Farm Bureau, the farmland price index is down for the seventh-time in eight months.
This means nationwide the supply of corn and soybeans is on the rise, so the price is falling.
Sterling Young, from Hertz Farm Management says, that can be tough on farmers, but can be good for consumers at the grocery store.
“One thing we can say is if he had larger supplies of food the price for them are less. The USDA is now saying our food price inflation this year is going to be less than anticipated,” said Young.
Young says because of this many farmers around the area bought revenue insurance.
It was a different story just this past August with the highest crop prices in quite a while.