The Business of Agriculture Podcast

Everyone is a little uncertain at the moment about the economic outlook in a coronavirus world. One thing we know for sure is that humans are going to continue to eat. But what does Main Street's economic reality mean for us in Ag moving forward? Chris Kuehl of Armada Corporate Intelligence joins me to discuss wages, inflation, food shifts, globalization, and much more. The best part: he (and I) stay out of the weeds of economic equations and simply provide scenarios and realities for all of us in the Business of Agriculture. Sponsored by Harvest Profit HarvestProfit.com

Bayer announced on June 24th the company would settle 95,000 lawsuits over its Roundup product for $10.9 billion. The company also stated it would spend $1.25 billion on resolving future claims. What does this mean for Agriculture and the future of crop protection? Darren Coppock, CEO of the Agricultural Retailers Association joins me to discuss an industry that relies on science but is dictated by lawsuits. Sponsored by Harvest Profit HarvestProfit.com

We in Agriculture are fairly isolated from the current protests raging across the nation, but we would do well to watch and learn. Because the tactics being employed by activist organizations to create chaos in our cities are the exact same tactics employed by anti-Ag groups. We discuss the very profitable, yet "non-profit" conflict industry, and the methods these organizations use to attain their real objective: money and power. Sponsored by Harvest Profit HarvestProfit.com

Groceries — particularly meat — have been in the news a lot lately. From meat plant closures to produce being destroyed to food bank demand spikes, food is a hot topic in the coronavirus era. But it's about to "get real" because the consumer is seeing the biggest jump in food prices since 1974. Food prices jump 5.8% just from March 1 to May 30. Most of that increase was in meat. So what does this mean? I provide a few outcomes and economic prognostications that are likely in a recessionary economy now dealing with higher grocery bills. Sponsored by Harvest Profit HarvestProfit.com

Did you know that over 120 million American cropland acres are treated aerially each year? In addition to treating nearly one third of our crop acres, aerial applicators also fight forest fires, treat timberland, enhance pasture and rangeland, and spray for bugs harmful to human health (think mosquitoes). Aerial application of crop inputs is an important part of Agricultural production that most people don't think much about. That's why I brought on Andrew Moore, CEO of the National Agricultural Aviation Association. Interesting stuff in this episode. Sponsored by Harvest Profit HarvestProfit.com

On my cross country drive back to the farm last week I heard multiple references on the radio to Ag people "Telling Their Story." We've been encouraged for several years now as Ag people to "tell our story." And we should. However, there are a couple issues when it comes to us telling our story. In this episode we discuss how to make our story relevant to and more about the customer, not just ourselves. We also discuss how to stop preaching to the choir and start communicating with non-Ag people. Agriculture is a business and businesses are customer driven…one way to keep those customers happy is by telling our story in a way that makes it their story.

Karlanea Brown intended to be a fashion designer. That's what she studied in college and had dreamed of doing since age 12. Then she married a hog farmer and everything changed. Karlanea worked off the farm for years then joined the farm enterprise after her husband, Darryl's, father passed away. The Browns had already departed the hog business and were looking for a replacement when they decided on shrimp. Today, RDM Aquaculture complements their grain farming and greenhouse business. Karlanea shares shrimp lessons learned and describes their thriving direct-to-consumer / restaurant seafood business. Sponsored by Harvest Profit HarvestProfit.com

Agriculture IS a business. That's a point I make in my book, Food Fear, and a point I make repeatedly in discussions with consumers and in presentations to Ag industry folks. Ag is a business. Which means production Agriculture is supposed to be profitable and should be run like a business. Mary Jo Irmen, author of Farming Without the Bank joins me to discuss financial strategy, mistakes, and opportunities for today's Ag professional. We cover a lot of ground in this episode on the subject too many producers avoid properly handling: money.

Lyle Benjamin farmed for 17 years with his business partner wife in Montana's Golden Triangle region. He's from there. He returned there after stints away from the farm so he could be a farmer. This winter — on the heels of several bad years — he made the decision to quit farming. Lyle joins me to discuss the difficult decision when the emotional and tradition-laden side of the family farming operation meets the business realities of production Agriculture. Lyle has no regrets. He made a business decision to preserve capital and provide for his family. Lyle offers plenty of lessons and support for farmers — or any business owner for that matter — staring down the difficult decision of closing one's business. Please share this episode with someone you know who is struggling with or stressing over a big decision. Sponsored by Harvest Profit HarvestProfit.com

Nearly half the nation's ethanol facilities are closed at the moment. No, it's not directly due to coronavirus, it's due to the oil glut created by Saudi Arabia and what that's done to ethanol prices. These closures, like every action, have a reaction. For the Business of Agriculture, the ripple effect is oftentimes misunderstood by the non farming consumer. Take meat plant closures as an example and what that's created at the grocery store. Sadly, we're seeing or about to see the downstream impact of ethanol closures. Corn prices are the first reaction (over one third of America's corn production goes to ethanol), but there are other reactions too. Geoff Cooper, CEO of the Renewable Fuels Association joins me to discuss what ethanol plant closures mean for Ag and consumers. You may just want to stock up on carbonated beverages!