Tools And Technology
FBN®, Greeneye Technology Announce Strategic Collaboration
Jan 25, 2023
FBN to invest in Greeneye Technology Precision Spraying System and partner as a sales channel to fuel U.S. growth. FBN will sell Greeneye systems with new customized crop protection and nutrition packages to reduce costs and drive ROI for growers. In 2022 comprehensive FBN on-farm field trials, Greeneye’s precision spraying system reduced herbicide use by an average of 86%. Greeneye and FBN Announce Strategic Collaboration Agreement Greeneye Technology, the pioneer of AI precision ag spraying technology, and Farmers Business Network (FBN) , the global AgTech platform and farmer-to-farmer network, today announced they have entered into a long-term strategic collaboration agreement to help farmers reduce weed control costs and drive profitability by combining Greeneye’s retrofit precision spraying systems and FBN ’s Precision Spraying Packs – customized crop protection and nutrition plans which FBN is developing for use specifically with the Greeneye technology – and financing offerings. The program will launch first in the U.S. for the 2024 growing season. Also as part of the agreement announced today, FBN has led Greeneye’s current investment round through a significant investment which will fuel Greeneye’s growth and expansion in the U.S. market and beyond. On-Farm Field Trialing Results Last year, as a participant in FBN ’s Innovators Research League, one of the largest on-farm field trial programs in North America, the Greeneye system reduced non-residual herbicide use by an average of 86%, while achieving the same weed control efficacy and crop yield as traditional broadcast spraying. FBN will continue robust on-farm trials and data gathering to develop Precision Spraying Packs, combinations of crop protection, biologicals, and adjuvants for use with the Greeneye System to optimize both efficacy and cost-saving. FBN will also offer financing for both the Greeneye system and its Precision Spraying Packs. [Interested in participating in future field trials? Learn more about the FBN Innovators Research League and sign up for upcoming trials here.] University of Nebraska-Lincoln Field Trial Results A field trial undertaken by the University of Nebraska-Lincoln’s Agricultural Research Division (ARD) last summer also found that the Greeneye system: showed a 94% reduction in burndown herbicide use during pre-emergence spraying compared to broadcast application. showed an 87% reduction in non-residual herbicide use during post-emergence spraying compared to broadcast application. represented an overall cost saving to farmers of more than 60% while achieving the same, or similar, levels of efficacy compared to broad spraying. What This Strategic Collaboration Means for Farmers “The core mission of FBN is to drive farmer ROI potential. Whether that is through transparent list pricing, analytics, financing, direct to farm eCommerce or R&D - FBN is at its core a technology company that solves problems for our farmer members," said Matt Meisner, Vice President of R&D and Data Science at FBN . "Our Innovators Research League on-farm field trial program rigorously tests the best new ag technologies in real world conditions. Our trial results showed that Greeneye’s technology offers truly game changing potential for cost reduction and ROI. We're very excited to invest in and formalize our relationship with Greeneye Technology. This marks a new era for combining precision spraying with intelligent input crop protection and commerce." The partnership with FBN opens up an important new sales channel for Greeneye, and is expected to accelerate the company’s leadership in the U.S precision spraying market, following its commercial launch last year. Greeneye has allocated dozens of systems for sale to FBN farmers in 2024, with the intention to significantly increase availability in the following season. The Greeneye system harnesses proprietary AI technology in combination with cutting-edge hardware to unlock the advantages of precision spraying for farmers by overcoming previous barriers to adoption, including cost, speed and efficacy. It is suitable for both pre- and post-emergence applications, and it is designed to seamlessly integrate with any brand or size of commercial sprayer, removing the need for farmers to invest in costly new machines. In addition, its unique dual line/tank configuration enables precisions broadcast spraying to be carried out simultaneously, significantly increasing both productivity and efficacy. Demand for the Greeneye system has been so high that all available units for 2023 were allocated by the end of last year. Nadav Bocher, co-founder and CEO of Greeneye Technology, added, “Today’s announcement marks a major milestone in Greeneye and FBN ’s shared mission to unlock the profit potential precision spraying offers growers. At Greeneye, we passionately believe the true value of precision spraying lies in the intersection between chemical reduction and cost savings, and the improvements in efficacy and yield that are achieved by precisely applying the best product to ensure ultimate weed control. For that we could not have asked for a better partner than FBN .” Click here for more information about the FBN -Greeneye Precision Spraying Program. For more information or for media inquiries, please contact email@example.com Copyright © 2014 - 2023 Farmer's Business Network, Inc. All rights Reserved. The sprout logo, “Farmers Business Network”, “FBN” are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc. FBN Direct products and services and other products distributed by FBN Direct are offered by FBN Inputs, LLC and are available only in states where FBN Inputs, LLC is licensed and where those products are registered for sale or use, if applicable. If applicable, please check with your local extension service to ensure registration status. Nothing contained on this page, including the prices listed should be construed as an offer for sale, or a sale of products. All products and prices are subject to change at any time and without notice. Terms and conditions apply. ALWAYS READ AND FOLLOW LABEL DIRECTIONS. It is a violation of federal and state law to use any pesticide product other than in accordance with its label. The distribution, sale and use of an unregistered pesticide is a violation of federal and/or state law and is strictly prohibited. We do not guarantee the accuracy of any information provided on this page or which is provided by us in any form. It is your responsibility to confirm prior to purchase and use that a product is labeled for your specific purposes, including, but not limited to, your target crop or pest and its compatibility with other products in a tank mix and that the usage of a product is otherwise consistent with federal, state and local laws. We reserve the right to restrict sales on a geographic basis in our sole discretion. You must have a valid applicator license to use restricted use pesticides. Please consult your state department of agriculture for complete rules and regulations on the use of restricted use pesticides, as some products require specific record-keeping requirements.
How Does Soil Productivity Determine Land Value?
Jan 20, 2023
In agriculture, we know that not all soils are equal. While some soils achieve high productivity, others have limitations related to texture, depth and drainage that lower their yields. These diverse variations make it challenging to directly compare two soils. What Is a Soil Productivity Index? Whether you’re considering buying new ground or considering the yield potential of your soils in your management decisions, soil productivity indices can help. Soil productivity indexes (PIs) are relative scales by which different soils can be compared and assessed. By taking into account many factors that determine yield potential, a soil PI provides a single number to rate soil quality. There are several publicly available soil PIs covering a range of geographies and some that focus on specific crops. Most PI systems give ratings to each soil data maintained by USDA-NRCS which can be used to map soil types within a field. Typically soil PI scores don’t change over time, unlike crop yields. They represent something more akin to average yield over time. In fact, average crop yields are typically used in constructing soil PIs. Taking a Closer Look at the Illinois Soil Productivity Index (ILPI) As an example, let’s take a closer look at the Illinois Soil Productivity Index (ILPI). The ILPI rates soils in Illinois for suitability for several major crops under best management practices. Like other soil PIs it summarizes multiple factors that affect the productivity of soils into one simple number. It’s a notable example of a soil PI because of its wide adoption in farmland real estate by farmers, appraisers, and tax assessors. In this article, we’ll answer the following: How is the Illinois Soil Productivity Index (ILPI) calculated? What is a good Illinois Soil Productivity Index (ILPI) for farm land? How are crop yields related to the Illinois Soil Productivity Index (ILPI)? How are land values and cash rents related to the Illinois Soil Productivity Index (ILPI)? How Is the Illinois Soil Productivity Index (ILPI) Calculated? The ILPI is the most widely used soil PI in Illinois, and it’s only available for soils in that state. Developed at the University of Illinois, it combines historical crop yield records and soil characteristics to produce a relative rating of seven key crops in the state. To establish the ILPI, researchers first calculated the highest crop yields for each of the 800+ soils in the state using data from several sources, including university trial data, agronomic check plots on farmer fields, and yield monitor records from farmers and researchers. The top 16% crop yields for a given soil indicates yield potential with "optimum" management. Then, one widely distributed soil with plenty of data was used as a benchmark: Miscatune silt loam. That soil was assigned an ILPI score of 147. Area-weighted crop yields for each other soil were then compared to the Miscatune silt loam benchmark yield. Soils with lower yields were given proportionally lower ILPI scores. [Additional details on the methodology can be found in the authoritative documentation - “ Crop productivity index for optimum management .”] Soil PIs, including ILPI, are unitless; they are relative and not absolute measures of productivity. The range of ILPI is 47-147, with higher numbers indicating more productive soils. Why 47-147? It’s likely just an artifact of the ILPI’s history. The current-day ILPI rating adapted earlier work in the 1970s which may have used a scale based on actual corn yields to indicate productivity. What Is a Good Illinois Soil Productivity Index (ILPI) for Farm Land? In Illinois, a broad grouping of soils into categories can be made, using the following guide: Excellent (ILPI higher than 133) : Very productive soils. Good (ILPI 117 to 132) : Productive soils with some properties that limit yield to remain below the excellent ones. These limitations can include sub-optimal texture, water-holding capacity, cation exchange capacity, etc. Average (ILPI 100 to 116) : Average to good soils. They may evidence some limitation to their yield, for example, low rooting depth, low permeability, or high clay in the subsoil. Fair (ILPI below 100) : below average soils, usually with limitations like adverse topography, flooding, erosion, etc. How Are Crop Yields Related to the Illinois Soil Productivity Index (ILPI)? The figure below shows the association between ILPI and yield. The relationship is strong and linear and consistent across crops. The R2 for corn is 0.73, and for soybeans is 0.67, which means that the prediction is not exact and there is an error around it. In that matter, the median error for corn is +/-6.8 bu/ac, and for soybeans is +/-2.8 bu/ac. How Are Land Values and Cash Rents Related to the Illinois Soil Productivity Index? Since ILPI was created to classify soils based on yield, it is also strongly associated with economic variables that depend on yield. The figure below illustrates two examples that also show a linear relationship. In the case of cropland value, the R2 is 0.74, and the median error is +/-650 $/ac. For cropland rent, the R2 is 0.75, and the median error is +/-15 $ac. Knowing the ILPI brings transparency to the Illinois agricultural sector, allowing comparisons among different soils and fair price calculations adjusted by soil productivity. Interested in Learning More About Illinois Farmland Values? The FBN® Illinois Land Values Report (Fall 2022) provides timely, data-driven insights about local land markets and valuations to empower you in future farmland transactions. Unlike any other land valuation publication, FBN ’s new report delivers deep insights into U.S. market conditions based on multiple data points, including soil quality, land productivity, historical ag yield data and real estate transaction records. Download the report for free using the form below. Copyright © 2014 - 2022 Farmer's Business Network, Inc. All rights Reserved. The sprout logo, “Farmers Business Network” and “FBN” are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc.
Climate in Ag Summit with FBN® and NASA Harvest at Farmer2FarmerVI [Videos]
Jan 13, 2023
This panel was originally presented live at Farmer2FarmerVI in Omaha, NE. Sign up to be first in line for Farmer2FarmerVII by clicking here. In this series of videos, gain perspective on the impact of climate shifts in agriculture from leading experts in the industry. SESSION 1: How to Maintain Farm Profitability Despite Weather Volatility Welcome to the Conservation Age. This session will make the business case for adopting more data-driven conservation practices across your farming operation without sacrificing long-term profitability. What markets are evolving to pay for climate-smart practices? Is Weather More Volatile? What Will it Look Like in the Next Decade? Michael Grieve, Senior Data Scientist at dClimate Destination Conservation: Sustainability and Profitability Across a Moving Landscape Laura Gentry PhD, Director of Water Quality Science, Precision Conservation Management Roundtable: Corporate Perspectives on Climate-based Initiatives Midwest Poultry Services - A Path to Net Neutral Eggs SESSION 2: The Future of Irrigation with NASA and FBN Research In this session, we will focus on how critical farmer engagement is in shaping the frontier of today’s digital agricultural revolution. We’ll also delve into recent weather related events and their impacts on commodity pricing. Infrastructure Impacts from Climate Change: An Examination of the Mississippi River Kevin McNew, FBN Chief Economist From Farm to Space: How Farmers Are Shaping NASA’s Agricultural Priorities Mary Mitkish, Assistant Program Manager, NASA Harvest NASA Does That? A Space-Based Approach to Water Resource Management Sarah Brennan, Deputy Program Manager, Water Resources and Agriculture, NASA SESSION 3: How to Prepare Your Operation for a Changing Climate As severe weather events increase, we’ll look at ways to assess the impacts on agricultural production and potential mitigation. What exists today, and what will the future look like for market-based solutions? Are farmers feeling the effects of climate change and a shift in attitudes toward climate change? From Past to Present: Shifts in U.S. Agricultural Landscapes Xiaopeng Song Phd, Assistant Professor, UMD Preparing U.S. Agriculture to Deal with Climate Change Eileen McLellan, Lead Senior Scientist, Environmental Defense Fund Green Hydrogen and Ammonia: Implications for US Farmers Michael Reese, Director, Renewable Energy, University of Minnesota Copyright © 2015 - 2022 Farmer's Business Network Canada, Inc. All rights reserved. The sprout logo, "Farmers Business Network," "FBN," are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc. or its affiliates. Neither FBN nor its affiliates endorse, approve, recommend, or certify any information, opinion, product, or service referenced by third parties during Farmer2Farmer. This presentation is intended for informational purposes only. It is not intended to provide specific individualized tax, business, investment or professional advice. Neither Farmers Business Network, Inc. nor any of its affiliates makes any representations or warranties, express or implied, as to the accuracy or completeness of the statements or any information contained in the material.
Top 3 Reasons to Join the FBN® Innovators Research League
Dec 28, 2022
The FBN® Innovators Research League (IRL) is a farmer-driven research network of FBN members who test cutting-edge innovations in crop inputs (such as biologicals) and equipment in real-life field conditions. The Innovators Research League represents a game-changing approach to new product development, offering farmers an opportunity to be directly involved in new product development alongside FBN while getting compensated for their time and earning exclusive access to new, innovative technologies. In turn, these insights on real-world, on-farm product performance help accelerate the data-driven adoption of new technologies in the ag sector. Innovators Research League By The Numbers in 2022 50 new products and technologies tested Trials in 9 different commodity and specialty crops 25,000+ trial acres 25 states represented in trials Benefits of Joining the FBN Innovators Research League 1. Get Exclusive Access to New Products & Technologies IRL trial farmers get exclusive access to exciting new products and technologies before they are commercially available to other FBN members or non-member farmers. This empowers them to see what’s coming down the product and technology development pipeline before anyone else, and to play an active role in helping guide the development of new agricultural technologies. 2. Earn Money While Gaining Insights into Your Operation We compensate farmers who participate in on-farm trials for their time and efforts. At the same time, farmers in the IRL program develop firsthand knowledge of how new technologies work on their farm. This, in turn, helps them identify opportunities for optimization across their operation. 3. Receive Customized Reporting At the end of each season, participants receive a customized report containing detailed data about how the trial product performed on their operations. Powered by FBN Data Science, these reports offer unique insights into product performance. How to Join the FBN Innovators Research League - Now Accepting 2023 Applications FBN is now accepting applications to trial new, cutting-edge agricultural technologies in 2023. This year, we’ll be testing biologicals, inputs, crops, robotics, and sensors, among other products. For reference, our 2022 program included innovative testing in inoculants, biostimulants, biopesticides, biofertilizers, and specialized fertilizer products. [Interested in participating? Sign up to join the FBN Innovators Research League program here .] Hear Directly from Participants About Their Experience In this panel discussion from Farmer2FarmerVI in Omaha, Nebraska, you’ll hear from farmers about their experiences as participants in the Innovators Research League through FBN . They’ll discuss why they joined IRL, what their experience has been like as part of the field testing process and what they’ve learned through the trials they’ve conducted. Featured Speakers: Matt Meisner, PhD: VP of R&D and Data at FBN Brent Rendel: Farmer, Innovators Research League Member Josh Moore: Farmer, Innovators Research League Member Andrew Tenold: Farmer, Innovators Research League Member Clark McPheeters: Farmer, Innovators Research League Member [Interested in participating? Sign up to join the FBN Innovators Research League program here .] Copyright © 2014 - 2022 Farmer's Business Network, Inc. All rights Reserved. The sprout logo, “Farmers Business Network” and “FBN” are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc. Testimonials are not indicative of future performance or success; results may vary. The information and opinions expressed by guest speakers in this panel are their own and are not endorsed or approved by FBN or its affiliates.
Sustainability Premium Programs & Contracts [Video]
Dec 26, 2022
This session was originally presented live at Farmer2FarmerVI in Omaha, NE. Sign up to be first in line for Farmer2FarmerVII by clicking here. In this Farmer2FarmerVI training session, Brant Caley, Senior Manager of Gradable Farmer Operations at FBN®, walks through sustainability programs and contracts available in 2023. Video Agenda: Gradable / Sustainability Overview MPS Carbon Intensity Scoring POET ISCC ADM re:generations Regenerative Agriculture Finance Copyright © 2014 - 2022 Farmer's Business Network, Inc. All rights Reserved. The sprout logo, and “FBN” are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc. Neither FBN nor its affiliates endorse, approve, recommend, or certify any information, opinion, product, or service referenced by third parties during Farmer2Farmer.
What Is Data Science and How Can It Benefit Your Farm? [Video]
Dec 23, 2022
This panel was originally presented live at Farmer2FarmerVI in Omaha, NE. Sign up to be first in line for Farmer2FarmerVII by clicking here. What is data science, and how can it benefit your farm? A Farmer2Farmer classic, this talk has helped thousands of producers understand how to leverage data on the farm. Hear FBN® Head of Data Science Kit Barron, PhD walk through the basics of statistical analysis, the benefits of data-driven decision making, and the insights and tools that FBN has developed to give you an advantage. From seed selection, to reducing carbon footprint, to tracking pest outbreaks in real time, to optimizing farm logistics, data tells stories farmers and livestock producers need to hear. Copyright © 2014 - 2022 Farmer's Business Network, Inc. All rights Reserved. The sprout logo, and “FBN” are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc. Neither FBN nor its affiliates endorse, approve, recommend, or certify any information, opinion, product, or service referenced by third parties during Farmer2Farmer.
Innovators Research League™: Applications Open for 2023 Field Trial Program
Dec 21, 2022
This panel was originally presented live at Farmer2FarmerVI in Omaha, NE. Sign up to be first in line for Farmer2FarmerVII by clicking here. The FBN® Innovators Research League (IRL) ™ is a farmer-driven research network of FBN® members who test new and commercialized product concepts in real-life field conditions. Farmers are compensated for their time and get access to new and innovative technologies. In this training session from Farmer2FarmerVI, you’ll learn about the Innovators Research League™ program specifics, success stories, and opportunities to participate. [Interested in participating? Sign up to join the FBN field trialing program here .] Featured Speakers: Matt Meisner, Phd: VP of R&D and Data at FBN R.J. Krekeler: R&D Operations Manager at FBN [Interested in participating? Sign up to join the FBN field trialing program here .] Copyright © 2014 - 2022 Farmer's Business Network, Inc. All rights Reserved. The sprout logo, “Farmers Business Network” and “FBN” are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc.
FBN Opens Applications for 2023 Field Trials, Announces On-Farm Trial Partnership with Solinftec
Aug 25, 2022
New agricultural technologies have tremendous potential to improve farmer efficiency and profit potential, while at the same time meeting growing regulatory and consumer pressure to enhance sustainability. However, adoption of new technologies is sometimes slowed down by the scarcity of data on how new technologies perform in the real world. Testing in labs, greenhouses and small plots on research farms can be a critical part of the development process. But it doesn’t always provide enough information about how new technologies will work at scale on real-world farms under diverse and realistic farming conditions. An innovative solution to agricultural technology testing These testing challenges led FBN® to launch the Innovators Research League , a game-changing approach to new product development and testing that can accelerate and improve the way in which technologies are commercialized and distributed to farmers. FBN partners with dozens of leading technology developers to test their technologies — including innovations in biologicals, other crop inputs, and even equipment and robotics — in the real world through large-scale, on-farm trials with FBN members . These rigorous trials get around these typical limitations by testing new products at scale in realistic conditions on actual farms, generating unbiased data to validate performance in different environments and establish credibility with growers. These carefully managed trials generate statistically robust data on product performance, and help speed the path to commercialization — with FBN providing a possible path to market for technologies that show the most potential in these on-farm trials. Looking ahead to 2023 season trials As the 2022 trial season nears its close, FBN is eagerly looking ahead to the 2023 season and planning is already well underway. (Technology developers can submit interest here .) One 2023 trial partner we’re excited to highlight is Solinftec , a leading agricultural technology company with an exciting innovation in ag robotics. Solinftec has developed a cutting-edge, autonomous, fully electric robot that promises to transform the way farmers manage their fields. The “Solix” robot provides real-time in-field scouting data, including pest and disease identification, nutrient deficiency detection, and crop health assessments, as well as a novel platform for the precise, targeted application of crop protection products. This technology is particularly exciting because of its potential to drive improvements in efficiency, sustainability and profit potential for farmers. "Solinftec focuses on solving structural problems in agricultural management and offers solutions that genuinely promote low-impact agriculture, while reducing cost and improving yields,” said Leonardo Carvalho, Solinftec’s director of operations. “Solinftec sees FBN as the ideal partner with shared values in helping farmers.” On-farm testing with FBN members will begin in 2023 in the Midwest with the goal of expanding to other geographies in the future. Stay tuned for updates on the field testing and possible future commercial offerings! Copyright © 2014 - 2022 Farmer's Business Network, Inc. All rights Reserved. The sprout logo, “Farmers Business Network” and “FBN” are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc.
What Is the ROI of Regenerative Ag?
May 31, 2022
You likely have some understanding of what regenerative agriculture is – but just in case you don’t – it’s defined as deploying farm practices that improve the health of your soil. Reducing tillage, planting cover crops, and reducing synthetic fertilizers are among the regenerative practices that have been credited with improving soil health. The benefits associated with regenerative agriculture are generally accepted as good but are hard to quantify. The big question is — will these practices increase your bottom line? And if so, how? Let's unpack the different ways that regenerative agriculture can affect the profitability of your farm. Reducing tillage The pendulum has swung back and forth on reduced and no-till tillage practices. According to a 2020 , three-fourths of FBN® members now practice no-till or minimum tillage. Reducing tillage leads to reduced soil erosion and increased carbon in your soil. Short-term ROI is easy to calculate for switching from conventional to no-till. According to a report by the University of Illinois , a disk ripper + field cultivator tillage program can cost over $35/acre. Eliminating this pass may immediately impact your bottom line. In most cases this reduction in tillage will lead to a need for an additional herbicide pass, which can typically cost $20-$25/acre, but that cost is ordinarily more than covered. Additional considerations are required (soil compaction, planter durability), but if no-till can work on your farm, the potential ROI is clear. ROI Potential = $10/acre per year Planting cover crops Planting a cover crop can extend the window of soil coverage on your farm. A well established cover crop has been shown to reduce soil erosion, improve crop resilience, and lead to increased carbon in your soil. The cost of a cover crop is easy to quantify. Prior to recent spikes in input costs, farmers were found to spend anywhere between $15/ac to upwards of $75/ac to implement a cover crop program in their operation. Additionally, NRCS reported state-by-state cost-sharing programs offsetting cover crop seed costs by 50-100% for approved programs in some states. Contact your local NRCS office for more information about cover cropping systems in your area. "In 2020, a study of FBN members reported corn crops following a cover crop were often more productive with yield averages around 4.5 bu/acre higher. New crop cash corn prices for fall delivery (as of early May 2022) are hovering around $7/bu; in this scenario, taking that yield boost into consideration at these prices, a farmer will see a benefit of $31.50/acre. Based on these findings, ROI potentials can range from $10/acre-$35/acre per year. Many soybean producers have indicated similar trends equating to positive ROI as well; FBN is currently studying these trends." ROI Potential = $10/acre-$35/acre per year Improve crop nutrient efficiencies So improved yield resilience almost covers the cost of planting cover crops, but a bit more is needed to flip “green” the ROI analysis. Fortunately, planting cover crops and reducing tillage can improve nutrient retention, ultimately, reducing the demand of synthetic fertilizers By improving organic matter and unlocking the nutrients already in your soil and keeping them in place, it's possible to reduce the application of nitrogen, phosphorus and potassium after adopting no-till and cover crops. Each farm is different; the right factors need to be taken into consideration and test strips should be performed before farm-wide implementation of cover crops and other regenerative practices. In the right scenarios, fertilizer demand can be greatly reduced through incorporating systems that limit nutrient leaching, utilize cover crops that can fixate nitrogen, and improve the overall soil health which may increase the storage capacity of nutrients within the soil. It's possible to start reducing your P and K in year-three of implementing regenerative agriculture. Reductions depend on your soil and practices, but improved soil health can contribute to 15 pounds per acre of P in year-three and 20 pounds per acre in year-five. A reduction of 10 pounds per acre of K can be achieved by year-three with some long-term scenarios benefiting producers up to 30 pounds per acre. Reducing nitrogen is a bit more complicated. Implementing reduced tillage and cover crops can reduce the need for nitrogen over time, especially if a nitrogen fixing cover crop is used, but the significant reductions, up to 40 pounds per acre in year-five, will more likely come from precision management and application of nitrogen in addition to regenerative practices. Applying nitrogen using the “ four Rs ” (right source, right rate, right time, and right place) can lead to immediate reductions in nitrogen. Reducing fertilizers can provide noticeable returns on investments but are typically spread over multiple years. Patience and continued evaluations of an operation can yield significant savings over time. ROI Potential = $18-$50/acre/year fertilizer savings over five years, fertilizer savings Summary In summary, regenerative agriculture can have a positive ROI impact immediately. The range of ROI depends on your operation, equipment, and soil but has the potential to significantly impact your bottom line. The key to successfully adopting regenerative agriculture is to adopt these practices without a reduction in yield. Gradable Plan offers soil sampling and expert agronomy recommendations to help you have a smooth transition. What’s your experience generating an ROI with various regenerative agriculture practices? Let us know in the Community Forum. NOTE: Recent, current and future volatilization in markets and costs may impact above scenarios and ROI potential on your operation. Disclaimer : The views and opinions are solely those of the author as of the date of publication, are subject to change at any time due to market or economic conditions, will not be updated or supplemented after the date hereof and may not necessarily come to pass. Neither Farmer’s Business Network Inc. (FBN) nor any of its affiliates makes any representations or warranties, express or implied, as to the accuracy or completeness of the statements or any information contained in the material and any liability therefore is expressly disclaimed. Copyright ©2022 Gradable. “Gradable” and the Gradable logo are registered trademarks of Gradable LLC.
The Importance Of AgTech To Make Informed Decisions On Farm
Apr 12, 2022
First of all, what is AgTech? Agriculture technology is the use of technology in agriculture, horticulture and aquaculture with the aim of improving yield, efficiency and profitability for farm managers and growers. Today’s farms and agricultural operations are vastly different than those a few decades ago, primarily because of advancements in technology, including devices, sensors, machines and information technology. Contemporary ag entities routinely use sophisticated technologies such as aerial images, temperature and moisture sensors, robots and GPS technology. These devices have allowed many businesses in the ag industry to become more profitable, efficient, safer and environmentally friendly. AgTech can take many forms and can also include any of the below: Drones IoT-based sensor networks Phase tracking Weather forecasts Automated irrigation Light and heat control Biotech Software for disease prediction and soil management Farmers have been quite slow in adopting this technology for the past decade, primarily because of operational traditions and ambivalence to invest dollars into innovations that are unfamiliar and for some who believe there is little to no return on their investment. With this in mind, there has been a shift in this mindset over the last few years as the workforce in farming begins to move into millennials, Bizwise Industries predicting that millennials will drive 75% of the technological change in the farming industry. This is hugely important as precision ag is reported by HexaReports , to reach $43.4 billion by 2025. Why ‘smart’ farming is created by AgTech? What most people still don’t realise is that ‘smart’ farming is very different from the traditional concept of farming. Many see the image of the farmer as someone carrying a pitchfork and riding a tractor, however the new generation of farmers can run their farms from an app on their phone while flying a drone and utilising a wide range of sensors and machine - learning capabilities. Today’s agriculture industry is no longer constrained only to large fields of crops, with the help of AgTech we can now grow food indoors in a number of urban environments. Rethinking modern agriculture will be imperative to innovating against global food shortages and ensuring survival. It is clear to see that most current forms of agriculture pose existential threats to the food system, with the way we produce food exacerbating climate change, which in turn threatens our food supply. This circular problem requires a fundamental shift to the way we farm and produce food of all types. Overall technology disruptions in emerging markets have a fit and purpose but none more so than the agriculture industry. The focus of AgTech disruption is not on consumer convenience or entertainment, but on something far more important - the collective survival of mankind. As the world grows and as we face more and more natural disasters brought on by climate change, we as a population are going to have to adopt more efficient practices to produce enough food for a global population. Learn more To find out more about our data platform and how it can help you make better on farm decisions, please visit www.fbn.com/en-au/insights . Sources https://www.forbes.com/sites/forbesagencycouncil/2021/01/05/agtech-a-new-world-of-innovation-opportunities/?sh=25f4204d4acd https://bitwiseindustries.com/blogs/category-blog-agtech/ https://www.alltech.com/blog/how-ag-tech-can-improve-sustainable-agriculture Copyright © 2021 - 2022 Farmers Business Network Australia Pty Ltd. All rights Reserved. The sprout logo, "FBN", "Farmers First", "Farmers Business Network", and "FBN Direct" are registered trademarks or trademarks of Farmer's Business Network, Inc. The material provided is for information purposes only. It is not intended to be a substitute for specific legal, consulting or any other professional advice. Neither Farmer’s Business Network Australia Pty Ltd. nor any of its affiliates makes any representations or warranties, express or implied, as to the accuracy or completeness of the statements or any information contained in the material and any liability therefore is expressly disclaimed. The information and opinions expressed by others in this material are their own and are not endorsed or approved by FBN or its affiliates.