That's right, there are some farmers hooked in. Probably liked the primrose path of trust. Maybe went for the sweetheart, long term deals.
Maybe, like most everything else, it's complicated. And then Mother Jones makes it seem rabid.
Being business contract experienced, I imagine it goes a little bit like this:
Sure, just buy the seed like you always. But, magic corn is very expensive.
And it is new, so we don't know really all about it's yield, yet. (seems reasonable but the typical sales lie and I have told them all and made up a few new ones)
So, we have this deal where you don't pay much up front for seed corn, but you pay a royalty (say what>>!!!??)
Oh don't worry about it. In case you have lower yields (huh???) Yeah, you would not want to pay Cadillac prices for all that seed corn if it doesn't yield. RIGHT???
So, they sign. No Money Down. Good Credic, bad Credic! Lookee Ma, this feller goona save r' farm!
And it yields like a sonofabitch, so that 20 year royalty contract......It just ain't fair.