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Interestingly enough the futures contract was invented by agricultural commodities traders to hedge against inclement weather. But consider that many farmers o
by jackcosgrove 8y ago
Interestingly enough the futures contract was invented by agricultural commodities traders to hedge against inclement weather.
But consider that many farmers only have a high school education, and are managing operations with millions in assets/debt, hundreds of thousands in revenue per year, and razor thin margins. A lot can go wrong.
Many understand the benefits and dangers of financing, but many don't.
- lbotos 8y agoIs this still true? My understanding is that "Modern Farm Science" is a big thing in Midwestern US colleges.
- jackcosgrove 8y agoThe BLS lists a typical education for a farmer as a high school diploma. https://www.bls.gov/ooh/management/mobile/farmers-ranchers-and-other-agricultural-managers.htm https://www.bls.gov/ooh/management/mobile/farmers-ranchers-a... It's not that farmers are particularly uneducated as a class of people. It's that they run complex businesses relative to their formal education. A minority of people finish college, but only a small number of high school graduates are farmers. Most who become farmers learn the job by growing up on a farm.