Word: wheated
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...extended vertical integration to wheat. He was miffed because the operators of a country elevator refused to buy part of his crop when he judged the price to be right, but told him to wait several weeks while they worked out storage and transport snarls. Benedict got nine other growers together to put up $1.5 million, buy an elevator and incorporate it as Northern Grain...
...make sure that each acre produces more crop." So, besides buying land, he has purchased so much machinery that it requires a football-field-sized yard just to park it. A partial inventory: four 15-ton trucks, three pickup trucks, seven tractors, three center-pivot irrigators and three wheat combines that cost $30,000 each, yet are used only about two weeks a year...
...wheat, his size...
...mechanization make him independent of the Government Had he chosen to "set aside" (not plant) 20% of his 2,000 wheat acres this year, he would have qualified to receive a Government-guaranteed "target price" of $3.40 a bushel. Benedict elected instead to plant all his acres, gambling that eventually he will get a high enough price to make a larger profit on a bigger crop. Whether he wins he will not know for many months. He has signed a contract to sell 40% of his wheat crop, for a price that he says "will cover costs and a little...
...force is the family: Sons Michael, 20, Blane, 18, Kurt, 13, and Daughters Stephanie, 19, and Lisa, 16. Even eleven-year-old David drives a tractor pulling a harvester that yanks three tons of sugar beets out of the ground every minute. All earn $3 an hour. During the wheat harvest each of them worked eight hours a day in staggered shifts so that some member of the family was in the fields 24 hours a day. Says Pat: "The kids learn that you are paid according to how much you work. That's what it's all about, rewarding...