Growing Returns

Selected tag(s): crop insurance

The Farm Bill can make the ag data revolution a reality

For big data to truly revolutionize agricultural productivity and sustainability, data needs to be accessible. Industry and government have already collected troves of data points. The trick now is to combine disparate data sets and make them available to farmers, researchers and advisers – all while meticulously protecting producer privacy.

The private sector moved aggressively in 2017 to provide farmers with solutions for collecting and interpreting their data. $500 million in investments flowed to start-ups providing farm management software, sensing and other data solutions – a sector with 27 percent year-over-year growth.

It’s time for the public sector to do the same. Here’s how the next Farm Bill can ensure farmers see benefits from their data. Read More »

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Conservation relies on profitability

Conservation practices help make this wheat field more profitable Whether in agriculture or any other business, if you don’t have enough money coming in to pay the bills, it’s hard to find the time or resources for anything other than working to turn a red budget spreadsheet black.

A wheat farmer friend from Washington recently told me that current prices are $4/bushel, the same as 40 years ago. Take into account inflation, and that’s a significant decline. Nationally, the USDA predicts that net farm income will drop by almost 9 percent this year, the fourth year in a row of declines after reaching a record high in 2013. Farmers also face enormous volatility in income, with fluctuations in yield, demand, as well as crop and input prices.

It’s no surprise then that environmentalists’ calls to cut crop insurance, disaster programs or other conservation payments fall on deaf ears in the agricultural community – or serve only to raise blood pressure levels across the Corn Belt. Read More »

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