The Stockton Record yesterday ran a story about the dismal economics associated with growing grapes in the San Joaquin Valley, based on a study co-authored by UC Cooperative Extension viticulture advisor in San Joaquin County Paul Verdegaal.

The story, written by veteran ag reporter Reed Fujii, opened with a telling quote from local farmer Brad Goehring, who helped with the cost study.

"At best, we're looking at about a 4 percent return on investment," he was quoted. "You could sell your land, liquidate everything, put your money into a Treasury bill and earn essentially the same return."

The UC...