Earlier quoted context omitted.
Maybe that's out of date. Iowa used to be run as described, but the 'family farm' is largely extinct. Now its all run by corporations in large blocks. This is an evolving issue, and its gone at least as far as the OP suggests.
Speaking as someone who provides services to the industry, your statement just isn't correct; as I originally stated it's a popular myth that is very different from reality. There are large corporations involved, but they come in at the points where inputs are supplied to the farmer and production is purchased. Production is still operated by family run farms. It's so capital inefficient that no corporation would dar…
Its pretty bleak. Farmers that don't farm. Family ownership has dropped drastically. Most farm owners are 65 or older, half of that women that outlived their families and don't work the land any more. Most land in production is rented. Families that keep the ol farmstead do it for sentimental reasons and hire it out to a corporation.