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The changing business of agriculture

October 5, 2008
By Mike Rose, North Dakota State University Extension service agent for Ward County

Most farmers and agri-businessmen would probably agree that it is not "business as usual" in the field of agriculture. The volatile commodity markets, the mess in the financial world and the dramatic increase in input costs have put a new level of stress in agriculture and upped requirements in management skills. One item that probably will not change will be small profit margins. As input costs catch up to commodity prices, we will be back to the typical scenario of small profit margins, but only at a higher plateau.



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