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By Farmobile Editors | Published Sep. 10, 2020
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We’re at a point with agricultural data where we are starting to reach digital harmony. There is now able to be a symbiotic convergence between lenders, insurers and agronomists based on ground-truthed ag data.
Tune in for the Extra Mile from my conversation with Jeff Johnson, where we talk about the Centra Sota precision program, Yield Quest and the multiple benefits of being able to manage to more of a field profitability level. Plus what that means for interacting with the market.
Jason : Let’s talk a little bit about Yield Quest, but not only Yield Quest the program. We’re starting to see an almost convergence between the lenders and the insurers in the agronomy and the agronomy teams.
Are you guys seeing that same type of– I call it digital harmony when you can get it – where you’re able to start to really leverage the collected data in ways that we probably always thought we could, but have never been really able to pull it off?
Jeff: Yeah, and I think it’s even more so in the last couple of years, since we’ve kind of entered this little commodity cycle. Very few farm P&Ls (profit and loss), or pro forma, show positive cashflow. The more data we can provide to growers for use with their lenders and insurance people, the more value we bring to their operations. We’re actually in that business with Yield Quest, where we provide growers with data inputs they need for financing and crop insurance. We’re constantly talking back and forth between our employees on how we can improve the value and visibility to our Yield Quest farmers. And then, by utilizing this data, we can help them to manage more of a field profitability level – it’s very helpful from a lending perspective.
Jason : I really believe that’s the Holy Grail. Who can provide that field level P&L with the least amount of input required? How can you passively fill in both blanks?
Jeff : To have a discussion with a grower on “you shouldn’t be farming this field” [and they say] “I’ve been farming it for 40 years.” Well, [that farmer has] lost money for 40 years …. that’s information we never had before and the grower has never had before. It’s just really, enlightening.
Jason: Taking the whole operation average and dividing it out.
Jeff: And even in parts of a field, you know, why are you planning X population across a field when, only 30% of your field is providing your results? It’s been a real learning experience for all of us.
Continue reading for more of the conversation in S2: Trip 2 – Reaching Digital Harmony.