The Business of Agriculture Podcast

Farm land prices are up. A lot! So are interest rates, input prices, and diesel fuel. What does all this mean heading into fall and for 2023? Should you buy acres to expand your Ag enterprise in this environment? How will a doubling of operating loan interest rates impact your bottom line. Jarod Creed of JC Marketing & Ag Financial Services in Iowa joins me to address those issues and questions. Bad news: Inflation is here for a while. Good news: Higher interest rates aren't as big a cost risk factor as you might think. Sponsored by Pattern Ag pattern.ag

50 years we didn't have much in the way of crop insurance. Then came the 80's and the realization it was smarter — and more financially sound— for the government to subsidize crop insurance. Today, more than 90% of American cropland acres are insured. But that's still not enough coverage for the amount of capital deployed in production Ag. Which is why new products and programs are being rolled out as the insurance industry evolves. Now covering livestock and specialty crop with an array of packages that make sense for producers — the insurance biz is changing. The folks from AgriSompo explain. Sponsored by Pattern Ag pattern.ag

The Columbia - Snake River system consists of 465 miles of river that acts as Agricultural infrastructure. The waterways and their 8 dams allow barges to move 10% of America's exported wheat and 40% of the inland Northwest's total wheat production. In short, the river system is vital for food production as well as the economies of Agriculturally dependent communities in three states. So why do environmental groups and certain politicians want to blow up the dams? Me and my panel of experts discuss how environmental activism is taking food off our plate. Sponsored by Pattern Ag pattern.ag

There's way more to Montana than just Yellowstone — the park AND the popular television show. Montana agriculture is diverse, productive, and as big as the Big Sky state. The state produces wheat, oats, flax, canola, camelina, lentils, peas, and more. Justin Miller, a fifth generation Montana farmer / rancher joins me to explain his farming operation that produces all those aforementioned crops. He is joined by Lance Lindbloom of 406 Agronomy to discuss Agriculture from the perspective of two native Montanans. They're no Kevin Costners, but I promise you'll be entertained and informed after hearing from these guys. Pop yourself a yellow jacket (Coors) and enjoy! Sponsored by Pattern Ag pattern.ag

Wheat prices are in record territory. Russia is reportedly seizing Ukrainian wheat and re-selling it. Africa and the Middle East might very well be starving soon, given wheat shortages. And the USA planted fewer acres of wheat last year than at any time on record, as farmers switched acreage to more profitable and higher-yielding crops. If wheat is in short supply even with high prices, is now the time to (finally) approve genetically engineered wheat? Darren Padgett, Oregon wheat producer and past chair of U.S. Wheat Associates joins Terry Wanzek, North Dakota state senator and farmer to discuss. Sponsored by Pattern Ag pattern.ag

While Ag's detractors often paint Agriculture as an environmental villain, I promote Agriculture as an environmental solution. Renewable energy, carbon sequestration, water filtration, and enviro benefit via land management are all enhanced through Agriculture. In the future we may also be a reservoir for carbon rich bio char and a supplier of alternative products — besides corn and soy — for renewable energy. Kore is a start-up company with technology they believe can work with Agriculture for energy and environmental benefit. Sponsored by Nori nori.com and Pattern Ag pattern.ag

Gas price hikes are a daily conversation and the exorbitant price of fuel is literally hyper-fueling inflation. The last time we saw conditions like this was the 1970s which gave rise to a new product — "Gasohol." From there, came the ethanol boom and biodiesel. But diesel from soybeans never really gained traction. And ethanol fueled the "no food for fuel" debates that have arisen with every food price increase. So, what is the future of Ag-based biofuel in a world pushing electric vehicles and "green energy?" Pete Meyer with S&P Global Commodity Insights delivers insights and information about the future of biofuel and frankly, it looks pretty darn good! Renewable diesel and sustainable aviation fuel — if you haven't heard of these two products and what they may do to the Ag landscape, listen up!! Sponsored by Nori nori.com and Pattern Ag pattern.ag

We began incessantly hearing the words "supply chain" a year after we'd already been feeling the brunt of its breakdown. In Agriculture it became noticeable when meat and milk processing plants closed or couldn't convert to a new product mix during shutdowns. Then it moved to a supply problem, meaning, we didn't think we'd have the inputs necessary to produce food. We're past some of those immediate problems but we're far from being in the clear. Much of Ag's necessities — from herbicides to machinery parts — come from overseas. What's the future look like, and will we be paying these exorbitant prices forever? Will there be shortages and high freight rates in 2023 and beyond? Andrew Bower with OEC Group joins me to discuss logistics. Sponsored by Nori nori.com and Pattern Ag pattern.ag

2022 started off with dire predictions for production Agriculture's financial outlook. But, by mid spring the picture was changing, and by early summer a very profitable year was being predicted. Is that still the case? Are farm balance sheets going to swell? Or will interest rates and inflationary pressure on inputs create losses? Tim Koch, Chief Credit Officer for Farm Credit Services of America provides guidance on what he sees across his company's $40 billion loan portfolio. Sponsored by Nori nori.com and Pattern Ag pattern.ag

Diseases, pathogens, and parasites rob yield from our farms and unfortunately, we usually don't know we have the problem until the damage is done. But what if a soil analysis — which you are already doing for soil nutrient monitoring — could also predict pathogens so that you could treat the problem proactively? South Dakota farmer Paul Sittig and Mike Tweedy of Pattern Ag join me to discuss the company's pioneering technology that uses advanced soil analytics to get more yield by staying in front of disease problems. Is this the future of production Agriculture? Yep.

Oftentimes, environmental organizations use modern Agriculture as a target and a tool for fundraising. Worse, some organizations use their political heft to create hurdles or even do harm to our industry. But not The Nature Conservancy, according to Jack Bobo. Jack joins me to discuss how environmental groups can work with the world's most important industry to accomplish mutual objectives. He also explains the reality of misguided Ag policy such as the EU's "Farm to Fork" initiative, which essentially offshores food production to countries with terrible environmental records. Sponsored by Nori nori.com and Pattern Ag pattern.ag

California's regulatory environment is prohibitive, especially for production Agriculture which uses a lot of water and works on historically slim margins. So, what's an enterprising California farm operator to do when faced with the challenge of preserving the family ranch in light of exploding regulatory costs? That's the question Eric Bream aims to answer with new ventures. His first venture: direct to consumer citrus sales with a hook. The hook: donating a matching portion of his direct sales crop to local homeless shelters and food pantries. Eric joins me to discuss California citrus and his new endeavor. Sponsored by Nori nori.com and Pattern Ag pattern.ag

We've been hearing about carbon credits as a possible revenue source for farmers for a couple years now. In fact, we've covered the subject here on The Business of Agriculture podcast a couple times. But how do you go about qualifying, what paperwork and approvals are required, must you change your farming practices, and who sets the price for your farm's carbon sequestration? Those and other questions are addressed in this panel discussion between Iowa farmer, Kyle Mehmen and Nori - The Carbon Removal Marketplace's Rebekah Carlson and Giovanni Sornatale. If you're not making money off of carbon credits now, you very likely can be (and should be!) soon. Sponsored by Nori nori.com and Pattern Ag pattern.ag

As farming changes, who will survive, who will thrive, and who will exit the business? What sort of traits and habits will provide a competitive edge? How much of an industry shake up will consolidation bring? Brett Sciotto, CEO of Aimpoint Research explains farmer psychographics and the research and outlook his firm does on behalf of Agricultural organizations. From Leveraged Lifestylers to Enterprising Business Builders to Self-Reliant Traditionalists, Brett outlines the five farmer personalities while predicting who'll be operating our farms in another decade. Sponsored by Nori nori.com and Pattern Ag pattern.ag

Wheat is up 70% with other commodities up substantially as well. Farm land sale prices are setting records. To say things are frothy is an understatement, and it's not just in Ag. So what does all this mean at the farm level? What impact does a half to one percent raise in interest rates have on our industry? Curt Covington, Senior Director of Institutional Credit at AgAmerica joins me to discuss all this and more. He explains the 10-7-3-1 Rule of Ag lending, how things resemble the '80's, and how labor shortages are driving innovation in production Ag quickly. Sponsored by Nori nori.com and Pattern Ag pattern.ag

In February of 2022 a "study" caught wide media attention (as it was designed by its sponsors to specifically do). The study, commissioned by National Wildlife Fund, found that corn ethanol is worse for the environment than fuel derived from oil. Groups ranging from the fossil fuel industry to readers of Mother Jones embraced the study, flawed as it was. Turns out, the analysis of environmental impact assumed that corn production entailed bulldozing forests and breaking virgin prairie, among other carbon emitting activities that really don't resemble modern American corn production. The attacks on ethanol ramped up with media pieces such as The Atlantic blaming ethanol for global starvation. Geoff Cooper, CEO of Renewable Fuels Association joins me to discuss ethanol reality while looking at the strange bedfellows of activists against bio fuel. Sponsored by Nori nori.com and Pattern Ag pattern.ag

Avian Influenza, or Bird Flu, is whipping through the American poultry industry. Spread by migratory fowl, the disease has, so far, had an outsized impact on backyard flocks. But its negative effect on commercial poultry production is an ongoing concern. As of April 4, 2022, 13 million commercial layers have been euthanized to prevent disease spread. The virus appears to hit turkeys and layers harder than broilers (chickens we eat). Kevin McDaniel, COO of Wayne Farms joins me to explain bird flu and its effects on poultry. Sponsored by Nori nori.com

7,600 California farming operations produce 80% of the world's almonds, which is California's number two crop by revenue. Unfortunately, because of weather problems — a freeze at bloom stage— and water rationing, almonds are going to be in shorter supply and more expensive very soon. Aubrey Bettencourt, a fourth generation farmer and president of the Almond Alliance of California explains almond production, the regulatory environment impacting California Ag, and how environmentalism will take a million acres of California farm land out of production. Sponsored by Nori nori.com

Ori Ben Ner's father is an agronomist and serial entrepreneur, with 5 Ag tech companies to his credit. The Israeli farm family — 91 year old grandpa still operates a small farm — has an environmental proposal to reduce water consumption, packaged with a business proposal to make farmers more money. The company — SupPlant — uses plant sensing technology, AI, and data to achieve their goal of digitally informed irrigation decisions. With Ag's natural resource "footprint" increasingly scrutinized, Ag tech's role in farming is increasing rapidly. Listen to this! Sponsored by LandTrust landtrust.com

On March 22, 2022 we celebrate the 49th annual National Ag Day. In this episode Damian shares the good, the bad, and the ugly about what the Business of Agriculture is and does. Some great stuff here — share it with your Ag and non-Ag friends. Sponsored by LandTrust landtrust.com

In March of 2020, all Hell broke loose for businesses and citizens alike, amid government-imposed shutdowns of the economy. Agriculture — as essential a business as any — was "allowed" to operate but it was hardly business as usual. The Agricultural input industry flexed to keep farms running with the supplies necessary to produce crops. Brandon Byington and Ryan Thompson with Helena Agra Enterprises join Brad and Kristen Seidel of Bison Ag to explain the adaptations made and lessons learned over the last two years. They also provide outlook on what long-terms effects they see in Ag inputs as a result of the pandemic. Sponsored by LandTrust landtrust.com

Jarod Creed is not an insurance agent, commodity broker, or banker. Yet, his job involves oversight of farmers' commodity marketing, capitalizing on government insurance programs, and keeping the balance sheet positive. Essentially, Jarod sees his company's role serving the 50 farming operations he works with as their consultant CFO. Jarod tells us what farming operations do wrong, why "manage your risk" is a misguided mantra, and why complacency is every farms biggest risk. From inflation, to commodity price volatility, to admitting Agriculture's amazing profit possibilities, Jarod and I cover it all in this spirited conversation. Sponsored by LandTrust landtrust.com

We've seen what Russia's invasion of Ukraine has done to roil commodity markets but what else does this mean for American Ag? Todd Thurman and Ryan Moe join me for a discussion about the contagion of military conflict in the Black Sea region. Is this the beginning of a global power reset? What will China do in the aftermath of Ukraine? Most importantly, if this is a wake up call to North American Ag to diversify customers and suppliers, will we take the call? This is a great discussion on a topic with lots of tentacles! WARNING: This episode contains adult language. Sponsored by LandTrust landtrust.com

Record amounts of capital are sitting on the sideline looking for somewhere to go. Inflation is at a 40 year high. Interest rates are poised to jump multiple times in the next year. Asset values — from soybeans to farm land to cars and equipment — are up by record percentages. What does all this mean for the Business of Agriculture? Bill Conerly, economist and business consultant provides context and explanation on economic realities impacting Ag. Sponsored by LandTrust landtrust.com

Logan Lyon has a corporate job, two children, and a wife with farm ties. He uses those ties for access to machinery to farm his own 200 acres himself. Logan provides his perspective and predictions on the future of Ag. Among them: There will be farmers like him who work in town and farm 1,000 or fewer acres then there will be large-scale operators. The future will employ smaller, less expensive farm implements. Consolidation will occur among Ag organizations as the number squeeze continues. There's plenty more outlook and predictions in our discussion…give it a listen!! Sponsored by LandTrust landtrust.com

The "Joe Rogan Crisis," as one media outlet is calling it, began with activist musician Neil Young's ultimatum that Spotify stop streaming Rogan's podcast or pull Neil's music from its service. Spotify stuck with Rogan, the media is still talking about the incident two weeks later, and 76 year old Neil Young's career got a shot in the arm with weeks of free promotion. So what does any of this have to do with Agriculture? Everything, that's what. Give this a listen! Sponsored by LandTrust landtrust.com

Agriculture's mentality and unstated business model has forever been: Make more food because population growth is going to exceed our ability to produce. But what happens when we have adequate production to feed humanity (which we already do) and the population begins to decline (which is about to happen in a couple decades)? Demographic changes are happening fast. Developed nations are getting older, women aren't having enough babies to replace our current population, and eventually we may run out of immigrants to fill our Ag jobs. Todd Thurman joins me to discuss a topic that most people in Agriculture have never even considered — a future with fewer mouths to feed. Sponsored by LandTrust landtrust.com

Sustainability has been a buzzphrase for the past decade but how do you define it? That was a major subject at the recent Vision Conference with sessions devoted to accurately measuring emissions and how to compensate Ag for Earth-friendly practices. Also discussed at the conference: Tech's advance via autonomous machinery (there are 130 robotic orchard sprayers already deployed in the west) and the growing influence of consumers on food production. Ag entrepreneur and friend of show Rob Saik, founder of AgVisorPro, shares highlights from the Vision Conference as we discuss what it means for the Business of Agriculture. Sponsored by LandTrust landtrust.com

In January of 2022 the Biden administration announced that one billion dollars of government money would be deployed to make meat less expensive. This, in response to the recent (and rapid!) run-up in protein prices. Details of the plan are still a bit unclear. One major objective of the spending is to expand slaughter capacity among smaller scale meat processors. Will this make meat less expensive for the consumer? Will it help meat producers? Jim Heimerl, a large-scale Ohio pork producer who also dabbles in beef production, joins me to discuss meat realities. Sponsored by LandTrust landtrust.com

The Biden administration kicked off the new year by doubling down on its spending to change the meat processing industry. Their proposal calls for $1 billion to be dedicated to expanding independent meat processing. Expanding local and regional meat processing away from the oligopolistic packers is a fine concept, especially for us who rely on small, independent butchering facilities in rural America. But…the stated purpose of the legislation is to lower meat prices for consumers and that math simply doesn't add up. Todd Thurman joins me to discuss the economics of meat. Sponsored by LandTrust landtrust.com

Running south of Portland, Oregon, the Willamette Valley runs about 120 miles and the farmers there produce some 300-plus crops. One major crop is grass seed. If you've bought a bag of grass seed at your nursery or home improvement store, there's a very good chance it came from Oregon. While speaking to the Oregon Seed League conference, I ran across Brenda, Macey, and Shelly — three women with family roots in Oregon Ag who are now running their own diversified Ag operations. Each of them used their base in grass seed production to expand their Ag operations into tree nuts, a trucking company, and even an international Ag export company. Sponsored by LandTrust landtrust.com

Like most things in production Ag, there's a whole lot going on before the burger hits your plate. How has beef production changed, what cattle genetics are sought after, where has beef steered its ship wrong in the past, will we see vertically integrated beef the way the pork and poultry industry have gone, what's in the future for American beef? I sit down with Kim Ford of Cross Diamond Cattle Company - a major producer of Red Angus genetics, and Randall Adolph of Freedom Hills Ranch of Illinois to discuss all this and more. Sponsored by LandTrust landtrust.com

Jon Kinzebaw and his company, Kinze Manufacturing, lay claim to being the inventor of the grain cart — in an Iowa welding shop — 51 years ago. Today, Kinze Manufacturing is a global short-line Ag implement company whose 650 employees make and sell grain carts, planters, and tillage equipment. Jon's daughter, Susie, company president, joins me for a wide ranging discussion about business and Agriculture. Just a few topics covered: the evolution of farm equipment, how the supply chain squeeze is impacting machinery sales, international growth, consolidation, the innovative and decision making advantages of being an independent company, and why using what you make makes you more intuitive. Enjoy! Sponsored by LandTrust landtrust.com

In general, the corn belt has had a good and prosperous last couple of years. But what lies ahead for grain farms in 2022? Of note, cost of production is spiking! Chris Barron and Shay Foulk of Ag View Solutions predict a $166 increased price of production per acre of corn and $64 increase per acre of soybeans. Chris and Shay join me to discuss issues, financials, and decisions facing farming operations at this time. Their company advises successful farms throughout the U.S. and Canada on financial and management decisions. Sponsored by LandTrust landtrust.com

Americans consume approximately 10 pounds of fresh apples per person per year, not to mention applesauce, apple juice, and all the other places apples go. But do you know how apples are produced, treated, and sold? Washington apple producer, Dave Robison and Wilbur Ellis horticultural specialist Nate Squires join me for an informative discussion about America's favorite fruit. Move over Granny Smith, the Super B apple is about to replace you! Sponsored by LandTrust landtrust.com

We've been hearing about supply chain squeezes for months now, but what will be the impact at the farm level on availability and pricing? Jim Sprowl, Regional Sales Manager for Ceres Co-Op explains the Ag input market from his perspective. He also shares outlook and a few predictions. In a nutshell: Product availability issues vary by the day and by the product line, unlike toilet paper - hoarding isn't the culprit, prices will be higher, adaptability is key to producing crops next year, and ultimately there's not likely to be a yield drag. That and more in this relevant and timely episode of The Business of Agriculture. Sponsored by LandTrust landtrust.com

In production Agriculture, you generally play the role of price taker. As commodity production specialization has evolved with modern Agriculture, this puts farmers in a situation to be a victim. At least, that's how Jason Mauck sees it. Jason is an entrepreneurial farmer with a lot going on. He farms with his family operation, bought and expanded a local meat company, and is now endeavoring on a mixed use Ag production / retail / tourism concept. Mr. Mauck shares his ideas on creating one's own Ag economy through diversification. Sponsored by LandTrust landtrust.com

Regenerative Agriculture is getting a lot of buzz these days. What is regenerative farming? What are the benefits and detriments? Do you need certified to begin regenerative practices? And what will we see in way of government and / or corporate standards around adoption of regenerative farming practices? Christie Apple — "CropScout Christie" — joins me to discuss the reality and future of regenerative Ag's adoption. Sponsored by LandTrust landtrust.com

Last week the federal government unveiled a round of "green" initiatives for Agriculture. Some of the proposals were new, some were recycled old programs, and some touched more heavily on the issue of carbon. This cycle of green talk coincides with the COP26 climate summit in Scotland where countries like the U.S. are making bold pledges about climate change commitments. So, how will this impact Ag at the farm level? Justin Lewton of Lewton Farms in Bennett, Colorado joins me to discuss. Sponsored by LandTrust landtrust.com

Producing bountiful crops or earning a lot of income won't guarantee success. In fact, big yields or big gross income won't even guarantee a net profit. Whether you're a farm owner or have a job in the Ag industry, your success will be accentuated with good money habits and tax management. Paul Neiffer, the Farm CPA joins me to explain tax changes in DC and what you need to know (or do!). Paul Neiffer's column - The Farm CPA — is carried in Top Producer magazine and he hosts a podcast of the same name. Sponsored by LandTrust landtrust.com

Tillable — the online farm land rental site — came on the Ag scene in 2017. Since then, the company has made some waves. From farm land rental, the company moved into farm land sales, and is now morphing into farm financing. Tillable CEO and founder, Corbett Kull, joins me to discuss his company's beginnings, movements in the Ag land marketplace, the future and much more. Sponsored by LandTrust landtrust.com

The 2021 U.S. soybean crop is projected to yield 4.45 billion bushels on just less than 88 million acres. Not bad considering a century ago we devoted only about 100,000 American acres to soybean production. So where do all those soybeans go and what happens to them once they leave the field? Mac Marshall, VP of Market Intelligence with the United Soybean Board explains all things soy - from exports to human soybean consumption to grower-funded marketing and research. Sponsored by LandTrust landtrust.com

You probably don't think much about duration of milking time for a cow or how protein content might vary from one cow's milk to another. But if you're a dairy farmer, these are the sort of things that can keep you profitable. Technological application along with rapid increases in data analysis is happening on modern dairy farms. Dr. Jeffrey Bewley of U.S. Registered Holsteins explains the cool stuff his organization is working on to make cows better and the lives of dairy farmers better. The bonus: consumers get tasty dairy products and less natural resources are used to produce milk. Give this a listen! Sponsored by LandTrust landtrust.com

When Tyrel Obrecht left his banking job to return to the family ranch in Turner, Montana, he knew he needed to increase the ranch's revenue. Could selling carbon credits to improve the ranch's infrastructure be the answer? Tyrel and his father, Sam, are about to find out. They've teamed up with the Western Sustainability Exchange (WSE) to make grazing changes and add improvements which helped them secure a carbon contract with Native Energy Project. Tyrel, Sam, and Chris Mehus of WSE join me to explain how they're using carbon to grow revenue and improve the ranch. Sponsored by LandTrust landtrust.com

Inflation is upon us, now the only question is: For how long and how much will prices keep accelerating? This is a challenge for every business, especially production Agriculture, which operates on thin margins and involves the acquisition and application of a lot of expensive inputs. To successfully navigate the pricing turmoil, you need to know why prices are increasing and strategies to employ to guarantee you have the inputs you need come spring. This is a panel discussion featuring a manufacturer, retailer, and farmer — Darla Huff with Advanced Drainage Systems, Jon Gilbert with Agtegra, and Lee Lubbers of Lubbers Farms. ** This is a joint episode with XtremeAg's Cutting The Curve podcast, which I'm producing for them. Check out more farm relevant content at XtremeAg.farm! Sponsored by LandTrust landtrust.com

If you haven't heard of the oilseed Camelina, join the club. It's reportedly similar to canola and it's pushers believe it has big potential as an ingredient in bioplastics — i.e. plastics that won't clog up our landfills for centuries or leach out as petroleum byproducts. This, combined with the plant's winter planting season, make it an option for cover cropping as well as fitting into a future of carbon capture for profit (or by regulatory decree). Dr. Oliver Peoples, cofounder of Yield10Bio, joins me to explain this new crop and discuss its potential future. Is it too good to be true or will we be planting Camelina in a few years?

John Hansen worked for Ted Turner's ranching venture long enough to see that buffalo breeding stock wasn't going to match the billionaire's TV ventures. He did see, however, the benefit for land and landowner in paying attention to the ecology of one's land resource. Now Mr. Hansen works for LandTrust. He joins me to discuss how agri-tourism can increase supplemental revenue for rural landowners. Sponsored by LandTrust landtrust.com

Jayson Menke of Acres and Shares discusses the sugar beet business and provides a North Dakota perspective on Ag. His company brokers agricultural real estate as well as shares of stock in American Crystal Sugar. Did you know the majority of sugar consumed in America is derived from beets (not cane)? Jayson and I cover everything from land prices to canola in this episode — pull up a chair! Sponsored by LandTrust landtrust.com

BDA Farms, a 6,000 acre operation in Uniontown, Alabama, quit conventional row crop farming to pursue direct to consumer Agriculture. The operation has grown into other categories. The farm produces grass fed beef and lamb, and pasture raised pork and eggs. BDA also grows organic vegetables on ten acres that continues to expand and runs three lodging facilities for Agri-tourism. Mark Harris, a former farmer turned CEO and Allen Williams, a former Mississippi State professor turned farming partner explain their business. And no, BDA isn't just some rich guy's passion project — it's a for profit business. I know because I asked! Sponsored by LandTrust landtrust.com

When you dig into your pork chop you probably aren't thinking about the boar semen and breeding sow that made that pork chop so delicious. But if you want to know about the fascinating, behind the scenes work that goes on in Agriculture to produce tasty meat in a hugely efficient manner, listen to this. Meat starts with genetics from the sire and dam and this episode will explain it all. Sponsored by LandTrust landtrust.com