January 13, 2024
Spotlight Story
Civil Eats discusses the important idea of farmer cooperatives that share specialized farm equipment. Check out the story, here.
Industry Updates
A new report developed by the University of Minnesota's Forever Green Initiative suggests that the planting of cover crops across the winter could significantly reduce overall nitrogen loss (23%) and soil erosion (35%) on Minnesota farms by 2050. The group highlighted the importance of live roots in the ground year-round to anchor soil and keep excess nutrients from escaping into nearby waters. Additionally, the financial upside for farmers is attractive, with the report projecting a potential 20% increase in on-farm profits come 2050 due to growing more of these crops. [link]
Argentina is poised to bring a seismic shift in its agricultural sector by modernizing its seed patent laws, a move aimed at bolstering the nation’s competitiveness in the global agricultural landscape. These laws, largely untouched since the 1970s, have been a roadblock for the country’s farmers, preventing them from leveraging patented seeds and subsequently leading to lower crop yields. President Javier Milei aims to equip Argentine farmers with the latest genetically modified seeds, in contrast to current legislation that bars seed companies from charging annual fees and thus investing in the country's agricultural sector. [link]
Electronic soil is a groundbreaking technology that has the potential to revolutionize agriculture. This innovative approach involves the integration of electronic soil, also known as eSoil, to boost crop growth by over 50%. The process allows roots to be stimulated with a low-voltage electric current, which can trigger a number of beneficial effects, including increased nutrient uptake, enhanced photosynthesis, and improved root growth. Although still under study, it is believed that the electric current triggers the release of plant hormones that promote growth. The current may also help to break down nutrients into forms that are more readily available to plants. [link]
The Indian state of Gujarat has inked three crucial Memorandums of Understanding (MoUs) worth over $266 million of carbon credits from planting mangroves. Deals have also been signed in the area of carbon credits for agroforestry. India has revealed new climate change commitments to reduce emissions intensity of its GDP by 45% by 2030, relative to 2005. As part of this effort, the government is promoting sustainable land use practices to sequester carbon. In a parallel endeavor, beyond the MoUs, the Gujarat government is actively investigating carbon sequestration in wetlands. A study found that wetlands can store 81-216 metric tons of carbon per acre, depending on their type and location. [link]
Indigo Ag Inc., a US startup that helps farmers be more sustainable, appointed a former boss of meat powerhouse Tyson Foods Inc. as its next chief executive officer. Dean Banks will succeed Ron Hovsepian, who will remain a member of the company’s board, Boston-based Indigo said this week in a statement. Indigo sells microbes to farmers to boost crop yields and helps them generate credits for sequestering carbon in the ground using methods such as cover crops. Banks, who served at Google X prior to Tyson, joined Indigo’s board in 2022 and will take over as CEO on Feb. 1 this year. [link]
American agribusiness company, ADM, has expanded its regenerative agriculture program to the UK and Poland, in a continued effort to create a more sustainable food system. ADM's regenerative agriculture program launched in North America in 2022 and provides financial and technical support to farmers who are taking positive steps to reduce their carbon footprint, improve water quality, and promote soil health and biodiversity. [link]
Australian soil carbon specialist Loam Bio has announced its entry to the US market, bringing with it a set of unique solutions for American farmers. The company has developed a unique microbial technology, called CarbonBuilder, which enhances the amount of stable carbon found in the soil without farmers having to make abrupt practice changes to their farming approach. This technology can allow farmers to start generating and selling carbon credits via Loam Bio’s very own carbon program SecondCrop. [link]
As Congress gears up for debate over the next Farm Bill later this year, many of the subsidy programs meant to aid the agriculture industry are under fire from some of the very farmers they are designed to support. In a new policy investigation, Farm Bill Sows Dysfunction for American Agriculture, several farmers across the United States sounded off about how crop insurance subsidies and other aid programs disproportionately benefit wealthier farmers, incentivize environmentally harmful practices, distort planting decisions in ways that ultimately impact our food supply, and discourage innovation amid everchanging weather and market conditions. Subsidized crop insurance is the most expensive program under the current iteration of the Farm Bill, with a total cost of over $17 billion. The government subsidizes about 60% of the premiums for policies that farmers buy from private insurance companies and it also pays these companies about $2 billion per year to cover their administrative costs. Farmers are increasingly pursuing regenerative agriculture practices as a way to quit these subsidy programs, remove government oversight, and build natural resilience into their operations. [link]
Bayer is making changes to the Executive Leadership Team of its Crop Science Division. The new setup will support the company to shape agriculture for farmers, consumers, and the planet, and to deliver against the ambition of becoming the leader in regenerative agriculture. Brian Naber will assume the position as commercial lead for the region North America from Jackie Applegate, who will be retiring from Bayer after 31 years with the company. Amid other resulting changes, the company stated that it wants to deliver innovations to farmers while helping society to achieve food security and fight climate change at the same time. [link]
The Wake County, North Carolina Board of Commissioners has partnered with Triangle Land Conservancy to permanently conserve one of the last remaining large farms in Wendell, marking the single largest dedication of funds for farmland preservation in the county and state and one of the largest in the nation. The Bailey family has voluntarily agreed to place 125 acres of its 129-acre farm into the Wake Soil and Water Conservation District’s Farmland Preservation Program, which will permanently safeguard the property from development. This 125-acre conservation easement is valued at $2.5 million. Wake County used nearly $1.1 million in deferred taxes as part of the newly expanded Farmland Preservation program. The remaining 60% was donated by the landowners. Triangle Land Conservancy will hold and monitor the easement in perpetuity to ensure that this land is truly protected. This is the second time that Wake County worked with Triangle Land Conservancy to use the funds to preserve prime farmland through the Farmland Preservation Program. [link]
Louis Dreyfus Company (LDC) and The Nature Conservancy (TNC) announced a collaboration to promote and implement regenerative agricultural and habitat conservation practices in strategic agricultural supply chains, as part of a shared goal to mitigate climate change from food and agricultural production and improve biodiversity and ecosystem services. The collaboration between LDC and TNC will accelerate the shift from commitment to on-the-ground implementation and impact, toward a net-zero, nature-positive role for agri-commodities that encourages practices to improve soil health, restore aquifers, promote biodiversity and mitigate climate change. The collaboration will be global and cross-commodity in nature, focusing initially on grains and oilseeds value chains, as well as coffee and cotton, across two interconnected ‘pillars’ for on-the-ground collaboration: regenerative agriculture and deforestation/conversion-free production. [link]
In Case You Missed It…
In mid-December, it was announced that Virginia farmer, David Hula, broke the world corn record with an incredible yield of 623.8 bushels per acre on his Charles City farm. Read more, here.