My mom is a farmer and she constantly has to research the market before planting her crops because the agriculture changes, as it would in any industry.
She wouldn’t want to plant hundreds of acres of something she doesn’t need.
The other factor that my mom needs to take into account is the import/export fees, taxes, and markets. She knows these can vary greatly from year to year too. One year corn would be the crop of choice and the next year it could be the soybean. She’s recently seen a new crop emerging with a lot of potential to be profitable called marijuana. Many farmers like my mother have decided to lease their fields and facilities to marijuana farmers for that same, profitable reason. My mom has been making a lot more money by letting go of traditional farming to make way for this growing industry. Marijuana farming companies are willing to pay top dollar for fertile farmlands to grow their crops. They’ll even improve their farmlands by adding things like greenhouses and irrigation systems. This adds to the value of the property and gives farmers, like my mother, added access to water, as well. Putting in an irrigation plan can be beneficial because then the farmer will have it for use of their own crops in the future. Should a supplier decide that they want to purchase the land, my mom would be able to make quite a profit off of that, too. Farmers, like my mom, will need to change with the times if they are meant to survive.