In my dad's day, they didn't do much analysis on costs and stuff. They simply planted the crop and harvested it and were able to make a profit. Now, with the technology, and knowing your costs and your profit margins, because they're so fine, you have to know what you have to spend and what you have to make. That comes back to the economies of scale, as Barb was mentioning. You can't buy a $300,000 or a $400,000 tractor and farm 500 acres. Our economics are not there. That's why the family farms have become this large. That's the differences with the technologies and agronomy today; that's the stuff that helps you succeed.
On April 28th, 2010. See this statement in context.