Rapid increases in agricultural incomes and asset values have brought back memories of previous booms and busts. Henderson, Gloy, and Boehlje (2011) chronicled previous agricultural booms and busts noting that they have often corresponded to rapid expansions and contractions of agricultural exports. As in previous eras, today’s agricultural boom has been fueled by increases in export demand. A key difference however, is the dramatic increase in domestic demand associated with the use of biofuels.