Capital Adjustment
Thu Nov 21, 2013 05:24 PM CST

It seems as if almost no one believes the next five to six years in agriculture will be as good as the last half-dozen. Steve Hemingway, who farms near Iowa City, Iowa, tends to agree; but, heck, what does he know?

"I've been wrong about interest rates going up for 10 years," says Hemingway, who farms about 2,500 acres and runs a cow/calf herd. "I grew up in the 1980s when interest rates got really high, so that's my reference."

That doesn't mean his operation stayed the same. He's no fool. "I think ...

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