Rich Iowa Farmers Reap Profits as Poverty Grows

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Oct. 19 (Bloomberg) -- At an auction in northwestern Iowa, 314 acres of cropland fetched $4.5 million this July. The price reflects a booming worldwide demand for grain that has showered wealth on some farmers and tripled land values in Iowa in the past decade. The surge is creating local millionaires. It's also fueling an income divide in rural areas that had long been the province of urban America. Bloomberg's Steve Biro reports. (Source: Bloomberg)


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