The Business of Agriculture Podcast

David Hasenauer is the founder of Greenpoint Research, a Florida based hemp company. This young Ag entrepreneur is looking to do some big things with an old crop. He explains the history of hemp, why it went away for several decades, and why it has such potential now. If you've been hearing about the potential of hemp and wondering how the business works, you've got to listen to this episode. I see more acres of hemp in U.S. fields soon — remember, we didn't grow soybeans en masse until the 1950s!

Troy Bockelmann is an analyst with CattleFax. He joins me to discuss beef, of course, along with a whole bunch of other stuff. We talk consumption numbers and trends in beef, pork and poultry, and what a cattle cycle is. Did you know 40% of beef produced goes to burger? Or that pork consumption faces resistance when we get over 52 pounds per person? What's the marketing angle for beef, and will it go away due to plant based meat, or will it expand with grass fed offerings? You'll like this discussion!

Whether you're a Farmer, Agribusiness person, or an Ag Banker, this episode is for you! John Blanchfield is a former Ag lender who then worked with the American Bankers Association Ag division. He now runs Agricultural Banking Advisory Services. He joins me to discuss: why 2019 will shape up better financially than we feared, and how we can all thrive (or at least survive) financially. John provides insights on how to see your Ag lender from their perspective. He then tells us what lenders see when they look at us and our Ag operations. John give us simple actions to take to always be a creditworthy loan recipient, and he shares mistakes we all commonly make and how to avoid them. Too many of my Ag friends avoid talking about money. Don't be one of those people! Listen to this for straight talk about improving your banking relationship.

Friend of show and chief economist for the American Farm Bureau Federation, John Newton joins me to break down this week's USDA crop report. The immediate result of the report: markets tanked on better production forecasts than the trade anticipated. But are the numbers for real? Mr. Newton and I think not — at least not for the anticipated yields of corn and soybeans. We discuss the report and what it means for the Business of Agriculture.

We've heard a LOT about crop insurance this year — especially in the Midwest and Plains states. But do you truly understand crop insurance and how it works? For an explanation I brought on Ruth, Ashley and Liz from the Auburn Agency of Auburn, Nebraska. These ladies have seen (and helped mitigate) the devastation of flooding and relentless precipitation first hand. In this episode we discuss the crucial role Crop Insurance has, why the federal government is involved with it, and how it works. *** This is an excellent episode to share with your non-Ag friends who've asked about the role of crop insurance in the Business of Agriculture.

We in the Business of Agriculture are amazing at producing grain. But the world of food — especially in developed countries like ours — continues to demand better or more specialized crops. Grain with more or less of a certain characteristic is desired by certain end users in the supply chain. That's where Farm Strategy comes in. Chad Sager with Farm Strategy joins me to discuss the unique needs of some millers and processors and how he helps them locate the right supply. Farm Strategy helps farmers and even seed companies find a market for their specialized crop. In a few years Chad sees growth outside of wheat (their current focus) into a myriad of things. I'll let him tell you about it.

Ed Ebert is the Senior Director of Grain Production and Utilization with the Indiana Corn Marketing Council and the Indiana Soybean Alliance. He joins me to explain how the corn and soybean check off program works and what the organizations do to promote our crops. We discuss the challenges and opportunities facing corn and soybean farmers and the industry in general. Ed tells us why seven dollar corn was bad for American farmers and why the trade dispute with China created new relationships for the U.S. We cover lots of topics you'll enjoy — biofuels, plant-based meat, corn and soy based plastic packaging, and the threat posed by countries like Brazil and Ukraine.

Randy Suess is a recently retired Washington wheat farmer and former chairman of U.S. Wheat Associates. Randy is still involved in Agriculture through farm ownership and lobbying on behalf of the wheat industry. He joins me to discuss trade – which is vitally important to Washington state's Ag sector. We also talk about the new world order of wheat and the impact on Ag from political movements masking as environmentalism. They used to say, "What happens on the coasts eventually comes to middle America." If that's the case, we in the Business of Agriculture should be very concerned about environmental agendas that make voters "feel good" while harming Agriculture. Remember, as I always say, it's never about the facts, it's always about the feelings. Listen to this!

For most of the 10,000 years since humans invented Agriculture, scarcity has been the norm. Food was difficult to produce, store, transport, and in many cases, financially challenging for many humans to buy. That's not really the case anymore, at least not in the developed world. Affluent countries such as the U.S. in the last half century have figured out food production. Scarcity no longer determines food choice for most Americans (or Canadians or Europeans or Australians), trends do. Food fads are real. Think Greek yogurt today where as it was frozen yogurt in the late 80's. Gluten free and low carb today will give way to the next trend in food consumption. So how do you successfully navigate food trends? Can your product or industry market or innovate it's way to prosperity if the trend is against you? We explore that subject in this episode. From milk to eggs, avocados to beef, food trends are the reality of the marketplace. We'll discuss how to navigate those trends.

Tim Young chucked his corporate job to become an entrepreneur in his mid 30s. What he built was a marketing company that grew to employ 450 people. Then he sold it to pursue life as a small farmer. He bought an old dairy farm in rural Georgia and went about the process of making it into a business. His operation raised pasture pork and poultry. He decided the only way to make money as a small dairy operator was through adding value, so he became a cheese maker. Today Tim teaches other aspiring small farmers and wannabe niche Agriculturists how to turn their dream into reality. He shares lessons on establishing your own defensible competitive advantage, farm branding, and the 8 simple questions to thrive running your Agribusiness.