The Business Of Agriculture Podcast

I’ve been hearing the complaint, “it’s hard / impossible for a young person to start out in farming these days” for decades. Recently, an interviewer went down this road about the struggle of young people to get into farming and blamed the phenomenon on “corporate-ization.” You’ve no doubt heard this complaint yourself, but is it even true? If it i…

Kelly Garrett is an entrepreneurial farmer from western Iowa. His business interests include farming, trucking, plant food distribution, ag retail, and now: direct to consumer beef. Kelly joins me to discuss the motivation behind creating GLC Beef and the opportunities for increasing profit margins by becoming vertically integrated.Sponsored by Pat…

We’ve been hearing about carbon credits for several years in Agriculture. Finally, the vagueness of the ecosystem marketplace is becoming more clear. In this episode we learn how farmers enroll their acres to get compensation for carbon sequestration and nitrogen reduction. Who pays for these environmental objectives? How much money is available an…

The Business of Agriculture trades commodities. We produce them, buy them, sell them, and process them to make products for our end users. But who does all this trading and who ultimately, uses the goods we make? Dave Smoldt and Kyle Schrad with StoneX Financial give us a behind the scenes look at customers they serve and how they help end users na…

U.S. net farm income set a record in 2022, up 14% from 2021 to $160.5 billion. To put it mildly, things in Ag are good financially speaking. 2022’s farm income number is double what it was just 3 years ago during the China - U.S. trade spat. What does this mean for those of us who earn our living in Agriculture? Will expenses rise by more than inco…

Agriculture has a lot of battles to fight beyond the daily challenges of producing our food, fuel, and fiber. Causes against production Ag have turned into religious movements as well as full-blown business models. Call it what it is, it’s “the conflict industry” and in places like Holland, farms are being forcibly liquidated by government to reach…

In 2022 American farmers produced the fourth largest soybean crop on record at 117 million metric tons or roughly 4.4 billion bushels. The good news: Demand is matching global supply and prices are decent. The challenging news: Our demand for soybean oil is outpacing our demand for soybean meal. Given the math (about 80% of a soybean is meal, 20% i…

Cow farts cause “climate crisis” and climate crisis is reducing crop yields, eating eggs causes high cholesterol, global population growth will cause mass starvation, sunlight exposure is harmful to your health. You’ve likely heard these dire predictions confidently proclaimed by so-called experts. The only problem: Most of these doomsday scenarios…

Shay Foulk with Ag View Solutions predicts cost of corn production for 2023 will average $5.35 per bushel. That number is an all time high and it’s due to an increase in every crop input from nitrogen to diesel to labor. The story is the same for the other major commodity of soybeans, and presumably for wheat as well. The reason: crop input price i…

Farmers love to talk about the weather but in this episode we go deeper and talk about systems, climate, global weather patterns, and the year ahead. My guest is Eric Snodgrass, Senior Science Fellow for Nutrien Ag Solutions. Will we see the sort of devastating dryness we experienced in the west in 2022 make a repeat? Will we have subsoil moisture …

Lasse Jakobsen was born in Denmark, now the Millennial heads up U.S. business development for the company his grandfather created to serve European hog production. Today, Protekta is a joint venture with a Danish organization that produces feed additives, among other things, for pork, poultry, and primarily dairy producers. Lasse discusses the adva…

Your smart phone has more technology and capability than NASA’s Apollo program had 50 years ago. Think about that, then think about the technology in today’s modern farm machinery. Data collection, yield monitoring, analysis down to the square foot…It’s amazing to say the least. John Deere business development manager Dan Paschke joins Deere dealer…

Two weeks ago I posted on social media a photo of an antique tractor next to a modern machine. In my post I referenced the advancements we’ve made since the antique tractor worked the land — 7 times increase in per acre yield, less natural resource consumption per calorie produced, environmental advancements, etc… Then, as often happens on social m…

Renewable diesel is the new buzz talk everywhere in Agriculture. Will its take off and reality match the fervor in farm circle discussions? Will the tax credits giving RD lift off remain with us? Will more biofuel fuel the “no food for fuel” debate? Well, yes, that’s almost a guarantee! Mac Marshall, VP of Market Intelligence with the United Soybea…

Fertilizer markets have been tumultuous for a few years now. Just when you thought things had settled down on fertilizer price and availability, a hurricane hit, a war broke out, and the Mississippi dried up. Nathan Carson is VP of Operations with Chemical Dynamics, a Florida specialty fertilizer company. He shares perspective on Florida Ag and out…

The global population is getting older and fertility rates have been plummeting. Unless you follow my commentary, this is probably news to you. Most everyone in Ag is still operating under the misguided assumption that population growth is boundless. It’s not. As fertility rates drop like a rock, the population gets older. Fast. Here in the U.S. fo…

Ken Wall left his post as an attorney and moved his two sons back to the Ontario specialty crop farm he was raised on in the 1990s. Since then he’s expanded the enterprise, gotten in the seed business, built a food processing facility, and created a niche manufacturing company. He explains the business of asparagus and describes his diversified Agr…

There’s an industry within the world’s most important industry that most folks probably don’t think a lot about but it’s huge and it’s growing: The fats and oils side of Ag. Vegetable oil demand is growing, not just because of human consumption but also as a fuel source with renewable diesel and sustainable aviation fuel demand on the up tick. Then…

You’ve likely heard the horror stories about unhealthy Agricultural family business succession. Dysfunctional relationships, favoritism, squandered wealth, sibling rivalry — Elaine Froese, the Farm Family Coach, has seen it all. The sad part: it’s all preventable. Elaine joins me to discuss strategies to successful business succession. She shares v…

While most farm operators quest for more acres, the real drive should be for more profitable acres. Which means, less productive acres in some cases would be better off going un-farmed. That’s the concept of precision conservation as promoted by Pheasants Forever & Quail Forever. Jacob Taylor a specialist with the wildlife organization joins Tennes…

Sorghum, Grain Sorghum, Milo…whatever you call it, it’s a crop that’s likely to expand in acres over the next decade. The reason: water. Specifically, water restrictions — either by regulatory forces or adequate availability — will increase the economic justification for drought tolerant crops like sorghum. John Duff, one of the world’s foremost ex…

The Trudeau administration recently announced its intention to bring (potentially stifling) environmental regulations to Canada’s Ag sector. So far, the rules are just proposals and are still ambiguous and evolving. The Netherlands kicked off what is fast becoming a green agenda in Ag that could leave the farm sector economically wounded or even fo…

A new white paper produced by a team of members of the Association of Equipment Manufacturers outlines 13 trends impacting the future of production Agriculture. In this two-part episode I am joined by an AEM panel to dig into the trends and provide outlook on the rapid changes coming to Ag over the next decade. Who will own the farm land? What will…

A new white paper produced by a team of members of the Association of Equipment Manufacturers outlines 13 trends impacting the future of production Agriculture. In this two-part episode I am joined by an AEM panel to dig into the trends and provide outlook on the rapid changes coming to Ag over the next decade. Who will own the farm land? What will…

During the Summer of 2022, Dutch farmers began protesting extreme environmental legislation poised to force liquidation of livestock and shut down farms. The purpose of Holland's legislation is allegedly for the good of the environment, but upon further analysis, the laws will simply offshore and worsen environmental damage. Todd Thurman joins me t…

Biologicals are the newest iteration in Ag inputs but they’ve actually been around for several decades and they still lack consistent results. Consolidation among Ag’s biggest players has left just a handful of huge companies — will they all still be here in a decade? If so, who will they acquire? Meanwhile, farms are consolidating too (as they hav…

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…

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…

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 de…

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 operati…

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…

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 alte…

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 …

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…

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 …

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 …

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 importan…

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…

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…

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 …

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 Insti…

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 i…

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 sprea…

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 t…

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 techno…

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.comעל ידי Damian Mason

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 By…

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…

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 importa…

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, e…