Farm Finance Featured on the Farm 4 Profit Podcast

“We have growers who tell us that we’re helping them with their economics, which helps convince their lender to give them the full operating line.”
Dan Frieberg

On this episode of the Premier Podcast, Dan Frieberg interviews the Farm 4 Profit show. Make sure to subscribe to their show at farm4profit.com. We hope you enjoy the conversation:

TANNER WINTERHOF: All right, welcome back to another Farm 4 Profit episode. This is Tanner Winterhof.

DAVID WHITAKER: And this is David Whitaker.

TANNER WINTERHOF: Dave, we got a little advice from a couple of peers as we put this podcast together that it would be helpful if we identified ourselves at the beginning of each episode. So, for a new listener, I’m Tanner. This is the voice of Tanner, and I’m a banker in central Iowa.

DAVID WHITAKER: And I’m David, and I am a farmland sales auctioneer and a real estate agent in central Iowa, as well.

TANNER WINTERHOF: So, thank you, new listeners, for joining us. We really appreciate you checking in. We’ve got a little bit of an interesting time this year. We started out with the coronavirus. We had some weather events. We’ve got inland hurricanes. We’ve got regular hurricanes. We’ve got droughts. Everything’s all storming together, but we’re going to focus on something a little bit more exciting today. We’re going to jump right into what’s working in ag. Don’t you think, Dave?

DAVID WHITAKER: I think so. We’ll just call it hashtag 2020.

TANNER WINTERHOF: That’s all we got.

Farm 4 profit podcast focus on farm finance

DAVID WHITAKER: That’s what we’ll call it. We have a guest today. Who is our guest, Tanner?

TANNER WINTERHOF: We’ve got Dan Frieberg, and he is here to share with us a little bit about what’s working for ag in his company. A really neat background. He grew up on a farm in Iowa, graduated from Iowa State University. His career includes wholesale fertilizer sales, retail management. He also served as the CEO of the Iowa Fertilizer and Chemical Association, later the Agribusiness Association of Iowa, and other business consulting. One of his favorite beverages, if not the favorite beverage of Dan, can you believe this, is Diet Pepsi.

DAVID WHITAKER: There you go.

TANNER WINTERHOF: But what does this have to do with farming? What do you think?

DAVID WHITAKER: I tell you it has a lot to do with farming. So, Dan, tell us. I’m glad to see you’re an Iowa State grad. I’m glad to see you’re from Iowa. Anything we missed there, other than a good hair day and the Diet Pepsi thing?

DAN FRIEBERG: I think you got it nailed.

DAVID WHITAKER: Okay, great. Well, welcome Dan. Do you live currently in Iowa, still?

DAN FRIEBERG: Yep, just south of Des Moines.

DAVID WHITAKER: I got ya. And so, tell me a little bit about your company. What exactly do you do?

DAN FRIEBERG: We take agronomic data, help growers with agronomic data that they’re collecting to provide analytics and economics with farm finance. Then, that analytics turns into advice and an action plan for the following year. Most of what we do ends up with a variable-rate prescription that goes in a piece of equipment, whether it’s the grower’s equipment or it could be a retailer’s equipment.

DAVID WHITAKER: So, you’re basically working with the farm data. “Farm Data is the currency of the internet” is what I always tell Tanner. And you are taking that farm data, and then you are helping the farmer probably spend less money by doing variable rate throughout the field or making tough decisions to plant or not plant or certain things. That’s what I’m gathering. Is that correct?

DAN FRIEBERG: I don’t think we ever save growers money. I think that’s one of the mistakes that a lot of people made in precision ag in the early years. We’re 20-some years into this, and a lot of the early messaging was around saving growers money. And I think that’s an unfulfilled promise. In the case of variable-rate lime, it is something that we do that saves the grower money on liming costs. But, most of the time, I think what we do is, rather than positioning it as saving the grower money, it’s about investing within parts of fields to get a higher return. So, instead of treating the whole field as though it’s the same, it’s about identifying areas that are capable of producing more and more efficiently. And then in other areas, it could be that that’s where you save them money because it just doesn’t make sense to continue to invest.

TANNER WINTERHOF: I grabbed it right off the website that Premier Crop was established in 1999. And what it says right there is this: “They enable the growers to think deeper about their data.” So, what I grabbed from that is using that variable-rate technology. The way to make that pay is not necessarily saving money but maybe reallocating those input dollars to site-specific areas, to where you could probably get a better return on your investment than where they might’ve just been blanketly broadcasted.

DAN FRIEBERG: Yep, I think that’s exactly right. I think maybe the other thing that we do differently is we have the ability to combine agronomics and economics. Right now, it’s really difficult to make money in a lot of areas. If we’re spending more in one part of the field, we’re able to actually tie the cost, the added costs that we’re investing in that part of the field, to the analysis. So, at the end of the year, we’re able to really deliver what we’re branding as a yield efficiency score, which is just dollar-per-acre return to land and management. For us, it’s about what’s been missing. We think there’s too much focus on just agronomics and not economics. I think right now, especially growers, they appreciate the focus on economics to help with farm finance. We like to say everything agronomic is economic.

farm finance and profits

DAVID WHITAKER: Gotcha. So, that’s a new term for me, the yield efficiency score that you have. Tell me a little bit more. Is it 100 is the best and zero is the worst, or how does your scoring system work?

DAN FRIEBERG: No, it’s really just dollar-per-acre return to land and management.

DAVID WHITAKER: Okay.

DAN FRIEBERG: It’s yield, and yield is tracked, obviously, with the yield monitor, a calibrated yield monitor. So, it’s yield at a benchmark selling price that the grower gets to set minus what they spent on nutrients, seed, crop protection and field operations. It’s kind of what’s left over. When a grower sees a yield efficiency score of $400, and they know they got $275 in land cost, then they immediately understand what’s left, the return to them for farm management.

Premier Crop Yield efficiency score

TANNER WINTERHOF: So, if we’ve got a listener here who hasn’t been using variable-rate technology before as part of their operation, is that a large hurdle to overcome? Or do they pretty much have the technology on most of these farms to be able to implement that?

DAN FRIEBERG: Tanner, I think if $7 corn did anything for us, it was that there was a lot of investment in new technology in the cab. When we had that run-up in prices and in profitability, growers put a lot and they invested heavily in upgrading planters. In the process of what happened during that time period, there’s a lot of technology in the cab, but there’s a lot of growers who aren’t necessarily using farm data to the full advantage. They have the technology. They have the ability to do it. They haven’t started because they don’t know how, and they’re looking for solutions.

DAVID WHITAKER: You said $7 corn. A lot of people updated their equipment there. But, for our newbie farmer that’s out there, or even somebody that’s been doing it, if they’re in an older combine, whatever it may be, and they decide they want to upgrade and be able to use your systems, is there a minimum-like entry? Something that they’re going to need for farm equipment?

DAN FRIEBERG: For us, we use the yield monitor as a way of measuring, measuring whether what we did was the right thing.

DAVID WHITAKER: Do they have to have a WAAS GPS or a certain sub-inch or anything there?

DAN FRIEBERG: No, just a GPS, a yield monitor with a GPS receiver.

DAVID WHITAKER: Okay, fair enough.

TANNER WINTERHOF: Pretty simple to get in there. So, Premier Crop Systems really allows that farmer to really get the investment that they put into that technology and put it to work. You guys can really work with them to use the existing equipment that they have to their full potential. One of the other things that I had come across when I was reading is it really keeps that farmer from farming on averages. You really come down and do check blocks and break that field out into, I call them, profit zones, but maybe you have a different term. Could you explain what you do when you break a farm down?

DAN FRIEBERG: Yeah, a lot of times that is what we do. We just try to identify, whether it’s management zones. We’re bringing a new version of that, which is performance zones, but it’s really trying to identify like-agronomic environments or unique agronomic environments within fields. It’s very much not treating it all like it’s the same. Tanner, within every field, growers will tell you there’s a sweet spot.

TANNER WINTERHOF: Yeah.

DAN FRIEBERG: Every grower who’s had a yield monitor has seen 80-90 bushel beans. They’ve seen greater than 100 bushel beans, and they just wish they could figure out what it was about that spot that made it so great. And that’s kind of what we try to help them do, identify those really high-yielding sweet spots, and a lot of times those are the ones that will respond the most to additional input investment. And then, conversely, there are areas that just don’t yield as consistently, and we try to solve the problem of whatever it is. We try to use farm data to help coach them on whatever those areas are. You’re in Huxley, and there’s a lot of potholes. There’s that north-central Iowa area. There are low areas. In wet years, they drown out. In dry years, they’re the highest yielding. They tend to be organic matter rich and nutrient rich because of all the years that they didn’t produce a crop. So, they’ll do great. They’ll do great in a dry year, but a lot of times we don’t invest near as much in inputs in those areas.

TANNER WINTERHOF: Yeah, take advantage of the resources that we have there.

DAN FRIEBERG: Tanner, the time is right, but it is tight on the farm. It’s really difficult to make money. That’s why farm finance and combining agronomics and economics is so important.

TANNER WINTERHOF: Yeah, it is.

DAN FRIEBERG: We have growers who tell us that some of this economic stuff we’re helping them with is what’s helping them convince their lender to give them the full operating line. So, we’re all about helping growers step up their game, and we know how difficult it is on everybody’s part.

TANNER WINTERHOF: It is.

DAN FRIEBERG: You guys don’t remember. I lived through the farm crisis of the 80s, and I was helping growers get financing. It was a dark and ugly time.

TANNER WINTERHOF: One of the things that I’ve noticed in the financing industry is that we have had more people utilizing creative financing methods, combining the dealer financing on their seed, getting some chem finance through their supplier, rather than getting their full operating through the bank. And part of that is our fault. We do get a little bit more conservative if we don’t have accurate records. So, I could see where Premier Crop Systems is valuable. And the fact that you can show me that, “Hey, we’ve got a plan. If mother nature cooperates halfway, we’re going to be able to put this plan to work and get us at least a crop that we can sell.”

DAN FRIEBERG: You guys know it because you’re interacting with growers. It’s a really high-stress time. When you see the farm suicide rate spiking, it’s reminiscent of just all the stress that’s going on with a lot of operations.

TANNER WINTERHOF: So, have you been advising any of your clients on what to do after the crop insurance adjuster shows up? Are you able to kind of help with a profitability calculation based upon what they’re learning after the derecho?

DAN FRIEBERG: Yeah, I mean it’s going to be difficult, like Corey will tell you. It’s going to be really difficult to get great data when you’re harvesting down corn. It really makes it difficult to have as much confidence in the data. It’s a struggle that way. Tanner, we’re right in the middle of it already because we’re starting to get ready for fall fertilizer prescriptions. If you’re not harvesting a crop, you’ve got nutrients that are in that crop that are going to get returned. So, you’re factoring that into your nutrient investment for next year, and so people are going to spend less on nutrients probably. But you’re trying to make sure you don’t short yourself in an area where you really need fertilizer manure to make it pay. It’s already started.

TANNER WINTERHOF: I’ve already heard guys talking that they might not be able to do as much corn on corn as they wanted to for fear of a volunteer coming up. Yeah, a lot of things are up in the air. I just got off the phone with a commodities broker who stated he’s got clients that just don’t know what to do. They’re in a limbo, waiting for the adjuster to show up, waiting for crops to dry down, waiting to find out what their options are.

DAVID WHITAKER: It’s an emotional roller coaster.

TANNER WINTERHOF: Yeah, any type of advice that they can get from a trusted advisor will go a long way.

DAVID WHITAKER: Yeah, it makes for an interesting year.

TANNER WINTERHOF: Well, Dan, I really thank you for joining us. I’m going to summarize real quick, and then let me know if we missed anything or if you want to share anything else. But we’ve got Dan Frieberg with Premier Crop Systems on the phone today, helping us out with our “What’s Working in Ag” segment. The company, started in 1999, enables growers to think deeper and utilize their data to make better agronomic decisions from that detailed data itself. They put the technology investments that you’ve already got on your farm to work for you. They want to make sure that you don’t think about farming on the average. Get down to a profit zone by profit zone analyst and management style, and then make sure that if you have a farm that is set up to where variable rate can pay, that it is not necessarily, Dave, the concept of saving you money. It’s more allocating those resources into a better part of the field that might make you more on the profit side. How did I do, Dan?

DAN FRIEBERG: You did perfect.

RENEE HANSEN: Thanks for listening to the Premier Podcast, where everything agronomic is economic. Please subscribe, rate and review this podcast so we can continue to provide the best precision ag and analytic results for you. And to learn more about Premier Crop, visit our blog at premiercrop.com.

Three ways to Use Data to Be More Profitable

If I asked you if you had a budget, you would most likely tell me you did. If I asked you where you could skim your budget in order to save more for your child’s education, a new truck or a vacation, you most likely wouldn’t know where to start. I know I wouldn’t!

This is really no different than farming. If you don’t have it written out, in detail, with all of your expenses and projected income, would you know where to start to be able to be more profitable?

First, you have to figure out what your profitability is throughout the field.  You can do this by adding up all of your inputs on your field (flat rated & variable rated) and adding those costs appropriately. When I say appropriately, I mean making sure that variable rates are accounted for.

Next, you have your income from your crop to add to the equation. But, your yield map is variable, so your cost of production is variable. See where I’m going with this?

Using your data to create a profitability map, like this one, can identify those areas.

cost per yield map

Think about this number:  If 10% of your fields are losing money and let’s hypothetically say they are losing you an average of $2.00/bushel, that equates to some serious money loss when you scale it across your entire operation!

But, as my brother asked me once about our own family’s field when I showed him our home field’s profitability map, “That’s great, Katie, but what do you do with this map?”  Using the data and the technology that a grower has available to them, that’s when the magic happens.

 


HERE ARE THREE WAYS A GROWER CAN USE DATA TO BE MORE PROFITABLE


1. STOP TREATING ALL FIELDS THE SAME.

They don’t all produce the same, so why should they have the same yield goals?

2. DEVELOP A PLAN TO SPATIALLY MANAGE YOUR INPUTS WITHIN EACH OF YOUR FIELDS.

You don’t have to have all the latest and greatest technology. But you can use your data to help you improve your profitability within your operation. Your trusted advisor should be able to help you with this if you are unsure.

If we look at this example, these areas in red only removed off a portion of the nutrients that areas in green did.

premier crop nutrient removal rates

premiercrop_nutrientsremoved

Let’s give a hypothetical example: If we use $310 for the price of MAP and Potash, the difference in dollars removed is $5.20 and $6.30/acre, respectively.  We could use this information to make sure that our nutrient application accounts for these values in order to spend our nutrient dollars efficiently.  We’re all looking for ways to maximize every dollar and ensure that it returns us the most amount of profit.

 

3. USE YOUR DATA TO MAKE DECISIONS FOR THE NEXT CROP SEASON.

This requires you to listen to what the data is telling you. Using your data provides you the facts you need to make more profitable decisions.

We were led to believe that the Precision Ag technology could make us money or save us money. However, it’s the DATA that we use in combination with the technology that enables you to be more profitable.

Changing your outcome is only possible when you do things differently than what’s been comfortable. But, just like your own budget, knowing where to change is essential. Your trusted advisor is by your side to help you make these essential decisions and improve your overall farm profitability.

Why You Need a Farm Plan

It takes a great deal of effort to plan appropriately for the upcoming crop season. It isn’t easy to be successful, and it definitely takes some time. There’s an old saying that says, “You plan your work, and then you work your plan.”

TO BE SUCCESSFUL, IT’S ALL ABOUT GETTING ORGANIZED AHEAD OF TIME. 

One of the big benefits of being a great planner is directly related to buying opportunities. This sets you up to determine when to buy certain products during the year. The plan is not just what’s going to happen agronomically to set you up for the next crop year but, also to factor your budget, and your cash flow for those buying opportunities.

When I work directly with farmers, I always ask the same question: do you plan before you buy, or do you buy before you plan? An overwhelming number of growers say they buy first. There’s this pressure of getting in early and taking advantage of the early program discounts. They speak for and commit to a product, and then do some detailed planning with the products after they’ve purchased them. Some people think crop protection is an area that is difficult to plan. I don’t believe that’s true. It’s really easy to develop a crop protection plan. You need to do some evaluation of what worked and where you have escapes. 80-90% of your crop protection could be planned a year ahead of time because you know what weeds escaped. You can plan to tackle them next year, as you go into crop rotations.

Weed resistance doesn’t happen overnight, so growers can get a feel for that fairly quickly. We went through a decade where we didn’t have weed resistance, which made crop protection planning much easier than it is now. We only had to think about how many ounces of glyphosate we were going to use. It’s really changed since then, but most of it can still be planned. Having a great plan lets you take advantage of prepay opportunities, or the right pricing opportunities.

How do you prepare to plan? What data is relevant, as you think about planning your next crop year? What’s the relevant amount of data that I need to start planning?

In our case, we manage fields based on different productivity opportunities within the field. We create specific zones where you can be more aggressive or less aggressive. It’s important to have some kind of a spatial soil sample where you’re capturing pH changes and organic matter changes. Nutrient changes throughout the field are a significant piece of soil tests. A certain percent of the acres are getting re-sampled every year, so that information is constantly being updated.

grower in soybean field

One of the myths many growers believe is that planning is a single event. But this is not what we’ve seen from farmers who are effective planners. It is truly a multistep process. The best way to explain it is to use an example.

When you talk about planning with farmers, one thing they’ll say is: “It’s all weather dependent, and I can’t plan. Nobody can predict the weather, and I can’t plan because I don’t know what the weather is going to be.”

I’ve found that people can generally plan around weather. Think of it in terms of nitrogen management. With nitrogen management, there are a lot of weather components involved, but many growers plan their nitrogen program to have handoffs during the year. Timeliness of field operations is a large part of this. Growers in heavier soils want to do some nitrogen application early because it takes the workload off. They’ll do some nitrogen around planting time in order to have something immediately available to the young plant. At different places, you’re handing the crop off to different types of nitrogen applications.

2020 was a great mineralization spring where everything warmed up. We had adequate moisture and everything took off. Most likely there was planned side dress that didn’t happen because it wasn’t needed. As a grower, you need to avoid being reactive. There’s a certain mentality around: “I’m going to take a picture of the field through an image, and identify through the image the areas that need something.”

By the time the crop tells you it needs something, it’s too late. You’ve already lost yield. If an image tells you that the crop is denitrified, it’s not that you shouldn’t address those denitrified areas, but you’ve already lost yield. Our goal is to never let the plant have a bad day. That’s what high yields are all about. From start to finish, you want to execute a plan where the plant never has a bad day. That’s how you maximize yield and yield efficiency.

For me, success rides in the details. As part of that detail, we need to get out of the mindset of treating entire fields as though they’re the same. There is so much variability within fields. If we’re going to drive higher return to land and management and a higher dollar return, we need to focus on where and how much we invest, how we treat parts of fields differently, and how we treat fields differently from one another. They’re not all the same. Managing that variability is where the big dollar returns come in. We have single decisions that are high dollar-an-acre net swings for growers.

yield efficiency by management zone

 

YOU CAN’T MAKE “COMPLEX” SIMPLE, BUT YOU SURE CAN MAKE IT EASIER. 

Growers feel more in control when they have a plan. When you feel more in control, you have more peace of mind. Right now, I think we can all agree that the world seems pretty out of control. Last year we found out how much our food production system is a “just-in-time” delivery system. There’s a lot of “just-in-time” everything, and that’s all detailed planning and logistics. It’s an amazing system, but right now, having a better plan in really tight financial times just gives you more control and more peace of mind. It’s amazing how over the years I’ve witnessed growers plan seed around the destination of the grain. They plan what to plant based on where the grain is going to end up. They have fields they know are going to be the last to be harvested, so they are picking hybrids that have terrific standability and retention, and can stand until very late in the fall. They have fields that are coming out early to fill the grain dryer, or they’re chasing an early ethanol bid on some fields. Everything is planned for details that are typically very “plannable”, but it all comes down to thinking ahead. We have growers who plan manure applications two or three years ahead of time. They’ll contract with a turkey litter company very early on. They know that every few years they’re going to get access to a certain amount of litter or manure, so they plan that far in advance. It’s impressive how these growers plan rotations around this. The ability to manage details and use data to drive confident decision making is a skill that takes great attention. Our planning tools allow you to see an overall summary to give you a high level snapshot of your seed, nutrients, crop protection and operations.

Many growers are sitting on a bunch of historic yield data. At Premier Crop, we can put that to use immediately. Many growers haven’t made decisions off of what they have, so they like the idea of being able to take advantage of the data they’ve been collecting for so long. We generally grab the current planting data and applied fertility data right away because we’re focused on getting a benchmark year started immediately. That way we can establish a baseline year and judge and mark ourselves by how much we improve yields and yield efficiency. It’s never too late to get started putting your data to use. Making use of what you already have is a great starting point.

Get in touch with a Premier Crop Advisor here to get started making data driven decisions today.

Measuring Success With On-Farm Planning

As a grower, you’ve most likely asked yourself, “How do I improve my operation’s performance?” Defining success is an important first step towards improving performance on your operation. However, the definition of success has evolved over time.

In general, growers understand that in order to drive higher profitability, they need to drive higher yields. Higher yields are key because row-crop farming is a high fixed-cost business. Before you plant a crop, most of your machinery investment is locked in. Land cost, whether you own it or rent it, is by far the biggest fixed cost. Whether you produce 100-bushel corn or 200-bushel corn, or 50-bushel wheat or 80-bushel wheat, it doesn’t matter. You’re still left with many fixed costs. Producing more bushels is the only way to drive your cost down. Because of this, yield has become the surrogate for profitability.

We know better, though. We know that all yield isn’t created equal. Farming isn’t all about yield, it’s about how efficiently we produce it. It’s how many dollars we’re able to return to land and management.

I was speaking with a friend who is a professor in agriculture. He told me, “Real-world agronomy isn’t rocket science. It’s way more complex than rocket science.” His point is, we put someone on the moon with what would be the equivalent of a PC, or a laptop now. Real-world agronomy is super complex because it’s this interaction of all kinds of different biological factors, including the weather, soils, fertility, seeds, and genetics.

The reason we make the agronomic decisions we do is because we understand there’s an economic impact to them. We argue that agronomic-economic complexity is very spatial, meaning it’s changing within fields. There are parts of fields that are begging to be managed at a higher level, while there are some parts of fields telling us we need to quit wasting money there.

We have this division happening between different ag technology start-ups. We have precision ag, which is more agronomy focused, and we have farm management information systems, which are arguably more economic focused. Growers are having to choose between 1. Am I going to focus on subfield agronomy? Or 2. Am I going to focus on field-level economics? Of course, our answer is that you don’t have to choose. That’s what we’re about; combining those pieces together. Our solution is not one or the other, it’s both.

At Premier Crop, we’ve been doing this a long time, and I’m convinced the reason every grower doesn’t do what we do is because of the precision aspect. No one else has shown the grower year after year that this type of management pays. If we advocate or advise the grower to spend more money in the best part of the field, at the end of the year, we’re not having a “trust me” it works conversation. We’re providing the dollars-and-cents analysis to show that they saw a higher return. A lot of times, they’re spending 30 to 50 dollars an acre more on inputs in the best part of the field, but also generating an additional 80-dollar return to land and management beyond that input spend.

GROWER YIELD EFFICIENCY ($/AC) VS GROUP

Screen Shot 2020-11-18 at 1.58.15 PM

There is no doubt we need to continue to push higher yields. The times right now demand that growers scrutinize every dollar spent to get a higher return. It’s imperative that we be keen on how we spend every input and every input dollar to get that higher return. You may cut costs in some parts of fields, but we can’t always promise that you’re not going to spend whatever you save. Sometimes you’re going to spend extra in the best part of the field. The point is, we have the ability to prove and deliver a report card on every field that says it paid better than if we had flat-rated it and pretended it was all the same.

breakevencostperbushel

We talk about having 400 layers of data at a subfield level, and people just think we’re crazy for handling the complexity of all those data layers. There are so many things that change within fields, though, so what matters varies within different parts of the field. In our case, we have a lot of spatial soil sampling. Instead of just doing one sample that represents the entire field, we’re capturing differences such as organic matter, pH, and fertility. There could be a couple dozen layers captured that way. We capture as-applied fertility, which is more complex than people think because there are growers who would apply nitrogen in five different ways. We capture rate, source and cost, so those are all sortable data layers that can be analyzed. We have around 15 layers from the planting file:  population, density, seeds, and hybrid and variety are just a few. There are hundreds of layers that aren’t necessarily captured on a monitor, but they still really matter. Manure is a great example of this. There are still many manure applications that have a huge impact, both agronomically and economically, and they’re not always captured on a monitor. There’s also input capturing the real cost associated with all this. It’s quite a bit of detail, but do this because it’s the most meaningful.

Things you measure tend to improve. So, if you don’t measure it, does it have any chance of improving? It goes back to being intentional and having a goal. That’s what we do with growers we’re working with. Every year, there’s a goal-setting discussion about how we are going to measure success. Some growers want to drive yield efficiency. They want to drive higher returns, so that they can hire some help and their family life can improve. They can have more time with the family because they’re able to afford hired labor. Others want to expand their operation. Everybody’s got slightly different goals, but usually, it comes down to the fact that they’re business people, and they want to generate more returns or hold their operating capital in check.

The reality is, the definition of success is different for everyone, but profitability matters. Having a business, whether it’s farming or anything else, everybody’s trying to make some money. Measuring the right parts to drive operational growth and profitable growth is so important.

Get in touch with a Premier Crop Advisor here to get started making data driven decisions today.