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Exceptionally high yields, combined with unnaturally high prices. It happens sometimes. The people growing white beans in my area did amazingly well last year,
by randomdata 15y ago
Exceptionally high yields, combined with unnaturally high prices. It happens sometimes. The people growing white beans in my area did amazingly well last year, seeing $1,000/acre in net profit, where normally you make little to no profit.
Others bank on the sale of all the assets when they retire. A farm that cost $25,000 30 years ago is now worth $1.6M. But when you are starting out, you have no idea what the future will hold. Just as many defaulted on their loans for those $25,000 farms and are no longer in the business.