The Business of Agriculture Podcast

If you're in modern day production Agriculture, you are in business. Probably to the tune of millions of dollars of allocated capital. Yet, many farmers don't flex their money mindset or think like entrepreneurs. This could make for real on-farm struggles moving into an era of high interest rates, consolidation, and demographic changes on North American farms. Evan Shout, CFO of Saskatchewan's HGV (Farms) and founder of FarmerCoach joins Damian to discuss improving one's entrepreneurial quotient, the business side of farming, and how to remedy business mindset shortcomings. Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

Every Summer we begin to analyze crop reports, look at the markets and ask the question, "Will Ag make money this year? And if so, which sectors?" Jarod Creed of JC Marketing & Ag Financial Services joins Damian to discuss farm income, recent ag economic history, political winds shaping or shifting Ag, and other forces impacting farm revenue. The good news: 2023 looks profitable for many. The bad news: We work in a business with plenty of ups and downs…as you'll enjoy hearing Jarod and Damian discuss. Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

We produce a LOT of agricultural output here in the United States and the trend line for increased productivity isn't letting up. So what happens when we run out of places to sell our output or creative ways to burn through our crops as we've done with ethanol or renewable diesel? Will we see calls for controlling the supply through a quota system on production? Damian Mason predicts (with 58% accuracy!) that supply management is in America's future. The reasons why: higher margins, more predictable economics, environmentalist push for reduced food waste, and a call for bigger returns on capital among larger scale operators. Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

As you've likely heard me say, we in Agriculture suffer from commodity mindset. When we think of growing margins, we think of reducing costs, getting bigger, and making more with less. But what happens when there's almost no efficiencies to be gained, or worse yet when we make so much stuff that even through efficiencies the margins are paltry due to an oversupply of food? Well, what if I told you that day is fast approaching? Friend of show, Todd Thurman joins me to discuss the future of Agriculture and the inherent need to not just add efficiencies but to also grow revenue and profit margin. Branded products, source verification, niche markets, and environmental impact quotients are just a few of the margin boosters coming soon to an Agriculture near you! Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

The proliferation of biological crop inputs over the last several years has been almost overwhelming. I personally believe soil biology — understanding it and working with the soil versus against it — is the next frontier for production Agriculture. That said, the world of biological soil and crop enhancements is crowded while still a bit murky. What exactly is in those jugs of biologicals, what do they do, how do farmers benefit from them, and will we use more biologicals and less chemistry on farms of tomorrow? Answers to those questions and so many more are in this discussion with Illinois farmer Greg McClure and BWFusion agronomist Sean Nettleton. Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

Mike Way started his Ag career selling citrus upon graduating from Fresno State. A few years later, he hopped over to vegetables with a few partners. Today he is the CEO and half owner of Prime Time — a California-based grower / shipper / packer of produce specializing mostly in peppers. Mike explains the challenges of providing year-round vegetables to the food service and retail marketplace while also navigating California's increasingly anti-Ag policies. Both of those challenges spurred his business to expand into Mexico. Chances are, you've eaten a Prime Time pepper. If you're looking for the story behind that pepper, here it is. Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

North American farmers are losing valuable bushels of corn and soybeans at both the front and back end of their combines -- those bushels never making it to the grain bin. We in Agriculture have been conditioned to focus on increasing production. But what about the money being lost by losing yield on crops you've already produced? That was the motivation for Craig Ganssle, founder of Farmwave, which uses AI technology to reduce grain loss. Craig is joined by Midwest farmer, Jacob Smoker who explains his results using the Farmwave system. Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

In a year's time, interest rates have more than doubled, commodity prices have declined by roughly 15 percent, while land and cash rent prices are in record territory. So, is everything alright with farm financials? John Maman with Nutrien Financial joins Damian to discuss Agriculture money and the marketplace. No, it's still not the 1980's and yes, you should have a firm understanding of the 5 C's of credit! Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

If you work in the Business of Agriculture, you likely know of a dysfunctional family farming operation. Contrary to the pastoral vision of farming portrayed in children's books, many farms are stress-filled places to work with family members in conflict, run by narcissistic owners. So says Andy Junkin who works as a farm mediator and advisor to keep family farming operations from imploding. Andy joins Damian to discuss succession plans, working with the next generation, and the 9,000 hour rule. If you're a farmer in that 77%, you may not like what you hear in this episode. Which is exactly why you need to hear it! Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com

Farmland values have been on a tear the last couple years. Who's buying America's farms and why are they doing so? Is it true that institutional investors are keeping farmers from expanding ownership? Will interest rate hikes cause farm ground prices to plummet? Are foreigners buying the property next door? Is farmland still a good investment? Should there be restrictions on who can own farm ground? Paul Pittman of Farmland Partners answers all those questions and more — buckle up for a fast moving discussion! Sponsored by: Pattern Ag pattern.ag AGvisorPRO getagvisorpro.com Truterra truterraag.com