The Union of Concerned Scientists is announcing a new report on biopharming: States like Missouri and Iowa are lining up to grow crops genetically engineered to produce pharmaceuticals and industrial chemicals, in large part because proponents have touted the crops as an engine of rural economic development and farmer prosperity. But a new report by a leading agricultural economist finds that while some drug and biotechnology companies may profit from these "pharma crops," aggregate farmer benefits are likely to be small and rural community benefits may be much more modest than often portrayed. "Proponents of pharmaceutical crops have inflated the rewards and downplayed the risks," said Dr. Jane Rissler, Deputy Director of the Food and Environment Program at the Union of Concerned Scientists, which commissioned the study. "State officials, farmers and rural communities should be wary of rosily optimistic claims." Related: Nanotech, Genetically Modified Crop News Spotlights Regulatory Gaps