Farmers Get Rich as Wheat Drives Deere Profits: Freight Markets
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The biggest U.S. wheat shipments in a generation mean record income for farmers, the most profit ever for Deere & Co. and the nation’s lowest jobless rate in North Dakota, the largest grower.
The U.S. will control 28 percent of global wheat exports this year, up from 18 percent in 2010, the U.S. Department of Agriculture says. With prices averaging about $8 a bushel this quarter and the next, the most in three years, farms will earn $94.7 billion, according to analysts’ forecasts compiled by Bloomberg and a USDA estimate. North Dakota’s jobless rate was