PODCAST: Strong year for corn, bad year for farmers
First up, the Federal Reserve doesn’t think the U.S. economy is healthy enough to raise interest rates for a quote “considerable” time. And fresh numbers this morning from the housing market lend support to that view. And last evening, the Senate joined the House in passing a measure to approve new ingredients for sunscreen in America. There’s a backlog at the Food and Drug Administration, meaning Americans have had to do without modern sunscreen formulations that people in other countries have been using. Plus, this year’s corn crop is expected to break records thanks, in part, to weather that was generally just about right. The great crop is a paradox for farmers. The Agriculture department says the average price per bushel will probably drop by more than thirty percent. We traveled to Iowa to meet with a young farmer facing a difficult bounty.
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