LUÍS EDUARDO, Brazil/BOONE, Iowa (Reuters) - The Bella Vita luxury condominium tower rises 20 stories over the boomtown of Luís Eduardo Magalhães in northeastern Brazil. Its private movie theater and helipad are symbols of how far this dusty farming community has come since it was founded just 18 years ago.
Local soybean producers shell out upwards of a half-million U.S. dollars to live in the complex. Nearby farm equipment sellers, car dealerships and construction supply stores are bustling too.
Meanwhile, nearly 5,000 miles to the north in Boone, Iowa, farmers are hunkering down. At a recent agriculture trade show here, Iowa corn and soybean grower Steve Sheppard reflected the cautious mood.