The economic theory of "farmers won`t produce for less than cost of production" is antiquated. Because farmers are old and have inherited assets accumulated over 50 years, that`s why at a retirement auction there might be $1 million in machinery on a 500 acre operation. Then there`s cases of a construction company owner also dabbles in farming, he`s "losing money" on the farming to off set the insane profits from his excavating business. Hundreds of examples of how land will sell for $15,000/acre and the big will get bigger even if corn drops to $3....it`ll actually speed up the process being more land will be on the market from those throwing in the towel who need the farm receipts for their living expense.
Millionaire country singer Luke Bryant is even in the farming gig
https://www.youtube.com/watch?v=QZ8s47pmWoA
Billionaires caught the farmin` bug
https://www.youtube.com/watch?v=MJVL9HegCr4
Cost of production? What you taklkin` about Willis?
