Low commodity prices for corn, soybeans, and wheat have caused some growers to consider organic production, non-GMO production, hemp, and specialty crops.
Michael Langemeier, an ag economics professor at Purdue University, says there are several factors a grower should consider when evaluating a new enterprise.
“What is success going to look like and if profitability does increase, what about risk,” he says. “What would happen if you get into a new enterprise and you have a market but then the market goes away.”
He tells Brownfield that growers should consider if the new enterprise is a good fit for the current operation and if it will require a new set of skills.
