Every day seems to bring a new technology for farmers.
Global positioning, infrared analysis, herbicide resistant seeds, new hybrids, and variable rate applications are a few of the relatively recent agricultural technologies. Agriculture is not alone in being overwhelmed with new technologies and innovations. Indeed the changes are coming so fast that it is hard to evaluate them. Economic theory shows that the early adopters of a clearly superior technology are the ones who benefit most. This is because by the time the late adopters have changed to the new technologies, the profits generated through the improvement have been factored into the market price.