Thanks to less debt, record-high grain and land prices, greater production and exports – Ag bankers, farm managers and economists say U.S. farmers are facing the current drought in their strongest financial position in history. That’s the big difference from the situation today when compared to the drought of 1988. Stronger crop and livestock insurance programs will also make a difference. All-in-all – Iowa Farm Bureau Director of Commodity Research Dave Miller says the farm economy is much healthier than it was 24 years ago. At that time – farmers were emerging from a farm crisis, there had been an extended period of low prices for grains, there was severe financial stress in the ag economy and land prices had plummeted about 60-percent in many of the Midwest areas. Miller says the picture is much different today. Farmers National Company Chief Executive Jim Farrell says grain farm balance sheets and better crop insurance are keys this time around.