Impact Farming

In this week's episode, "Innovating Hail Insurance," Tracy speaks with Bruce Lowe from AG Direct Hail Insurance. In this episode, they discuss everything you need to know about how hail insurance works. They discuss how rates are calculated and why they vary from area to area. They discuss why crop type matters and how deductibles work, and they walk through how farmers can determine how much hail insurance they need. Here on The Impact Farming Show, our goal is to bring you the people and ideas that will IMPACT your farming operation. We invited Bruce onto the show to speak about how AG Direct Hail has been disrupting the traditional hail insurance model.

If so, this episode is for you. Tune in as Bruce shares their story of innovation and how their company is dramatically changing how Western Canadian farmers buy hail insurance. Their mission is about more than saving you time and money. Don't miss this episode.

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Show Resources

AG Direct Hail Insurance - https://www.agdirecthail.com

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In this week's episode, Tracy speaks to Michael Langemeier from Purdue University about "Measuring Optimism in Agriculture: April 2023 Ag Economy Barometer Report." In this episode, Tracy and Michael speak about:

• What is the Ag Economy Barometer?
• In this interview, Michael shares the survey results from over 400 producers that were asked a series of questions. Purdue University and CME then compile the results to create the Ag Economy Barometer.
• The April 2023 results are in. Michael reviews the survey results and covers the following areas:
  • Indexes of Current Conditions and Future Expectations
  • Farm Financial Performance Index
  • Farm Capital Investment Index
  • Primary Reason now is a bad time to make large investments.
  • Short-term farmland value expectations
  • Long-term farmland value expectations
  • For USA producers…what is the likelihood of Congress passing a farm bill in 2023? What is the most important title for producers in the bill?
• Michael wraps up the interview and shares his final thoughts on the levels of optimism in agriculture right now.

Are you curious how other producers are feeling about the current state of agriculture? How optimistic are farmers about the future of farming? You will need to tune into today's episode to learn more.

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Show Resources

About the Ag Economy Barometer: The Purdue University/CME Group Ag Economy Barometer is a nationwide measure of the health of the U.S. agricultural economy. On the first Tuesday of each month, the Ag Economy Barometer provides a sense of the agricultural economy's health with an index value. The index is based on a survey of 400 agricultural producers on economic sentiment each month. Quarterly, the index is accompanied by an in-depth survey of 100 agriculture and agribusiness thought leaders. Ag Economy Barometer: https://ag.purdue.edu/commercialag/ageconomybarometer/ Purdue Commercial Ag Learning Centre: https://ag.purdue.edu/commercialag/home/team/michael-langemeier/

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In this episode, Tracy speaks with Joel Bokenfohr about the FCC Knowledge: Talking Farm and Food Podcast. Have you tuned into Farm Credit Canada's podcast yet? If not, you are in for a treat. The Talking Farm and Food is a monthly podcast that highlights the stories and experiences of farm business entrepreneurs and the lessons they've learned along the way. You'll also hear from industry experts about the farm management topics you care about. In this episode, Tracy, and Joel chat about:

• The vision behind FCC's podcast and why it was launched.
• They chat about the ideal listeners and what the audience can expect from Season 3 episodes.
• As Joel explains, Season 3 focuses on the Pathway to Transition. He shares more about where the idea came from and what the vision behind the series is.
• Tracy asks Joel what he hopes listeners take away from each episode. We love his answer.

Is transition planning on the horizon on your farm? If so, you will want to go to FCC's website and listen to these great episodes immediately.

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Show Resources

FCC Knowledge: Talking Farm and Food Podcast Here is a sneak peek at Season 9 episodes: Episode 1: Is your farm transition-ready? How to plan and prepare Episode 2: Crunching the numbers: Assessing farm transition financials Episode 3: Farm transition: Value, vision, and goal setting – a farm transition powerhouse Episode 4: Building the right farm transition team Episode 5: Why every farm transition needs a will and estate plan Episode 6: Business plans: Creating one that fits your farm vision Episode 7: Transferring knowledge in farm transition Episode 8: Leaning in and leading through farm transition Episode 9: Keeping your farm transition plan alive Head over to FCC's website to listen to these incredible episodes right away. https://www.fcc-fac.ca/en/knowledge/podcasts.html

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In today's episode, Tracy speaks with Tom Field about "Regret On The Farm." As farmers, we make critical decisions based on outcomes that are often out of our control. We do our best to make the correct decision with the information at hand; however, it's impossible to be right all time, given the fickle nature of weather, input pricing, markets, etc. This often leads to regret and beating ourselves up for being wrong and making mistakes. This stress can affect our mindset, happiness, and confidence in our abilities. In this conversation, Tracy and Tom have an up close and personal conversation about regrets on the farm and chat about the following:

• What we can learn from regret.
• What are the kinds of regrets, and why should we examine them in our lives?
• We often hear much about "no regrets" - is that even rational?
• How does regret motivate us?
• How does regret diminish us?
• How can farmers, farm families, and farming operations grow from acknowledging regret?

Please do not miss this conversation. If you have ever done something you regret or made a decision that didn't turn out as desired (everyone on planet earth)…. this conversation will likely take 100lbs off of your shoulders. And who doesn't want that?

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Show Resources

Engler Agribusiness Entrepreneurship Program

Learn more

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Show Sponsor

Thank you to our Show sponsor: AgExpert

Keep an eye on everything from field to finance with FCC AgExpert software. Purpose-built for Canadian farming, the AgExpert platform has been continuously refined for over 20 years to be the industry's most trusted farm management platform. With input from customers in every province, and all sectors in Canadian agriculture and food production, AgExpert makes sure your digital record-keeping is safe and up-to-date. Learn more HERE

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In today's episode, Tracy speaks with Joel Bokenfohr from Farm Credit Canada about The Farm Transition "Dating Game."

Intrigued? I hope so, as today we have a witty and informative episode about farm transition planning and how it mirrors the various stages of dating.

In this episode, Tracy and Joel discuss:

• How Joel came up with the idea of comparing farm transition planning to dating.
• Joel introduces our audience to the three stages of the dating game and how this corresponds to the three main stages of farm transition planning.
• Before diving into the stages of planning, Tracy and Joel chat about how overwhelming transition planning can be. Joel speaks to the "mind monsters" that tend to creep in during this process.
• Before even getting ready to "date," which in this case is starting the transition planning conversation, Joel shares the Farm Family Business Canvas with 21 questions that farm families can start reviewing and pondering on.
• Then, Joel dives into the short-term, medium-term, and long-term planning stages. He shares what conversations and activities tend to fall into each stage and what farm families should be focused on throughout the process.
• Where's the best place to start? Joel shares more information about Farm Credit Canada's team of advisors and tells our audience more about FCC's free transition planning resources.

Is transition planning on the horizon for your farm? If so, you will absolutely want to catch this episode.

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Show Resources

FCC Transition Planning Resources - https://www.fcc-fac.ca/en/resources/transition-planning.html Path To Transition – 9 Part Series - https://www.fcc-fac.ca/en/knowledge/plan-prepare-transition.html

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In this week's episode Tracy speaks with Chrissy Wozniak from North American Ag. Chrissy Wozniak is the host of the North American Ag Spotlight & What Color is Your Tractor that is published to their platform www.northamericanag.com. North American Ag is devoted to highlighting the people & companies in agriculture who impact our industry and help feed our world. They provide daily ag news and weekly podcasts, devoted to highlighting the great people and companies that serve the agriculture industry and help feed our world. Covering ag tech, issues, policy, new products, family & faith. North American Ag gives farm families and ag professionals insight into what's happening in agriculture throughout North America. Find your next listen in our Best of Ag Podcast Library, where we have curated the best agriculture podcasts from across North America. Searchable by name, host or topic - listen right on the page, or find links to the show on your favorite platform. Join Tracy and Chrissy as they chat about North American Ag, her podcast shows, common concerns she is hearing about the industry, and so much more. If you enjoyed this episode, don't forget to check out North American Ag from the links below.

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Show Resources

North American Ag

Learn more

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Show Sponsor

Thank you to our Show sponsor: Xplore

Fast and reliable Internet is essential to keep up with the pace of today. More Canadians in rural communities rely on Fixed Wireless Internet service while working from home, attending class and enjoying online entertainment. That's why Xplore has invested heavily to improve our existing LTE network while we work tirelessly to deliver fibre and 5G to more and more rural communities across Cananda. Learn more HERE

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In this week's episode, Tracy speaks with Michael Langemeier about the "10 Questions That Need to Be Addressed When Considering Farm Growth." Is your farming operation considering farm growth in the near future? If so, you will not want to miss this episode where Tracy and Michael chat about:

• Tracy asks Michael, "What's keeping producers up at night," Michael shares the most common concerns from their panel of 400 producers across the USA.
• Michael starts off with a conversation about the most common reasons for farm growth.
• He then shares his ten questions that must be addressed when a farming operation is considering growth.

Are you considering farm growth for more revenue? Or maybe your farm growth is the income growth that will permit the next generation to join the farming operation. No matter your reason for growth, there is some powerful information in today's interview so don't miss this conversation and Michael's critical questions that should be asked to ensure a well-thought-out farm growth decision. Don't miss this episode.

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Show Resources

Purdue Commercial Ag Learning Centre: https://ag.purdue.edu/commercialag/home/team/michael-langemeier/

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In this week's episode, Tracy speaks with Art Lange about a timely and relevant topic "Look Before You Leap Into A New Purchase." In this episode, Tracy and Art speak about:

• Why this is such an important conversation for the agriculture industry, taking into account the current economic conditions we find ourselves in.
• Art shares the 3 CRITICAL factors that should be considered when making a new farm purchase. Don't miss these wise words, as they can save you a lot of financial heartaches.
• They then dive into an equally important conversation about comfort zones and farm-family agreements regarding new purchases. Is everyone in agreement? Do compromises need to be made?

If you are a farmer with a sizeable purchase on the horizon, you will not want to miss this episode.

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Show Sponsor

Thank you to our Show sponsor: Farm Credit Canada (FCC)

Agriculture is not only a way of life, it's a business. Talking Farm and Food is a monthly podcast that highlights the stories and experiences of farm business entrepreneurs and the lessons they've learned along the way. You'll also hear from industry experts about the farm management topics you care about. Learn more here.

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In this week's episode, Tracy speaks with David Derwin for our "Grain Marketing in Our Current Environment: March/April 2023 Update." In this conversation:

• David provides our audience with a full market outlook taking a look at past/present/future trending prices for a variety of commodities, including grain price index (wheat, corn, soybeans, oats), Bloomberg Commodity Index, Crude Oil Futures, Fertilizer & Grain spreads, Natural Gas Futures, Canola Futures, European Rapeseed, Malaysian Palm Oil, New Crop Corn Futures and so much more.
• David and Tracy chat about how this all relates to and impacts grain marketing decisions.
• Tracy asks David what farmers can proactively do about market outlook trends and concerns.
• David shares some of the marketing strategies that he is currently working on with farmers.

If you are a grain farmer concerned about the markets, you will not want to miss this valuable episode.

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Show Sponsor

Thank you to our Show sponsor: Farm Credit Canada (FCC)

Agriculture is not only a way of life, it's a business. Talking Farm and Food is a monthly podcast that highlights the stories and experiences of farm business entrepreneurs and the lessons they've learned along the way. You'll also hear from industry experts about the farm management topics you care about. Learn more here.

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In this week's episode, Tracy speaks to Elaine Froese about transition planning in this episode titled "Let's Stop Procrastinating." In this conversation, Tracy & Elaine discuss:

• The very real danger behind procrastinating when it comes to transition planning.
• Tracy asks Elaine, "why do farmers procrastinate on this conversation?"
• Tracy presents Elaine with three scenarios and what farm kids should do if they are stuck in any of these situations:
• Wanting to have a transition planning conversation but scared to bring it up.
• What to do when discussions are had, but nothing happens afterward.
• What to do when your attempts to talk about transition planning with the farm founders continually get brushed off.
• Elaine speaks to the importance of blocking time off for essential conversations that can so quickly go ignored.
• We wrap the episode up with Elaine's final thoughts and transition planning wisdom.

Are you ready to have a straight-to-the-point conversation about transition planning? If so, this episode is for you!

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Show Sponsor

Thank you to our Show sponsor: Farm Credit Canada (FCC)

Agriculture is not only a way of life, it's a business. Talking Farm and Food is a monthly podcast that highlights the stories and experiences of farm business entrepreneurs and the lessons they've learned along the way. You'll also hear from industry experts about the farm management topics you care about. Learn more here.

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