Tech Tip: Make the Most of Technology When Margins Are Slim
It can be difficult to justify the cost of technology when commodity prices are low. However, experts say it's actually the best time because it can help you reallocate inputs to optimize your investment.
“When corn starts with a three in front of it, that's the time precision ag technology pays the best,” says Joel Wipperfurth, director of e-business for WinField United. “I know you might be inclined to flat rate inputs for simplicity, but when you've got an opportunity to reallocate inputs to where they can be best used, there's never a time where that's not economically more efficient as when margins are so tight.”
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