How Smart Agronomics Can Improve Your Economic Outcomes
Let’s be honest: 2020 is a year most of us are anxious to put in the rearview mirror. The challenges have come at us from all angles – market volatility, regulatory uncertainty and, of course, the ongoing pandemic. But we can’t make the mistake of simply hoping for a better “next year” because uncertainty has seemingly become the norm.
At WinField United, we’re working in partnership with our retail network to help farmers respond to the challenging dynamics by shifting our focus to something we like to call the “Economics of Agronomics.”
Rather than focusing entirely on yield per acre, we are helping farmers think more about the profitability of that acre and getting the most return on their input investment. We’re looking more closely at how agronomic decisions have affected farmers’ economic outcomes and using those learnings to develop strong crop management plans for 2021.
Here are my recommendations for how to set yourself up for optimal profitability potential next season.
Partner with your advisor now to manage future risk.
Farming is your passion but it’s also your business. We understand that you need evolving solutions to help you meet unexpected challenges. That’s why we’re beginning to offer new management and financial services that can help you optimize your profit potential.
The Advanced Acre® Rx program is a comprehensive, prescription-based offering that can equip you with customized, season-long prescriptions to help you manage resources as effectively and efficiently as possible. We’re so confident in the Advanced Acre Rx program that if a participating farmer follows their customized plan and doesn’t achieve at least 95%* of their actual production history (APH) of crop yield, WinField United will cover the cost of services.
So now you have some certainty on the back end. What about your initial investment? SECURE™ financing by WinField United is a low-interest alternative financing program. We estimate that when compared to other financing offers, SECURE can save farmers about $9 an acre on interest expense. That estimated $9 an acre can be invested in agronomic inputs, fertilizer and other tools that may generate additional income for your operation versus simply writing a check for interest.
Master the fundamentals at key points throughout the season.
This year, we introduced The Fundamental Five, a collection of critical agronomic actions you can take to support season-long crop management and, most importantly, provide a better return on your input investment. It’s practices like using plant growth regulators and seed treatments to foster early-season plant health. Targeting spray applications. Using a fungicide to manage disease. When properly implemented, they can all add to your bottom line at the end of the season.
Use data and digital tools to maximize your management plan.
With the volume of yield and profit potential that continues to be left on the table every year – we’re talking hundreds of dollars per acre in some cases – it’s critical you consult with your local trusted advisor and leverage quality data sets that are backed by extensive replicated trials and undergo a quality assurance process.
But that’s just step one because data without action is irrelevant. It should always be prescriptive. That’s why our system has invested in a suite of digital tools that can analyze this data and your local conditions to let you know exactly when and how to apply specific inputs to generate the most profitable and sustainable acre possible.
Your local WinField United retailer can help you pair data from your farm with the more than 6 million quality data points that are generated annually from our Answer Plot® program to find the practices and products that are right for your operation. From there, you can build a plan together for putting that data into action throughout the season.
Through our Truterra business, we’re also helping farmers identify and capitalize on positive environmental outcomes that support profitability. Through the Truterra™ Insights Engine technology and our Data Silo, we are building an industry leading approach to aggregating the data needed to support new carbon credit markets and help farmers monetize their efforts, while simultaneously leading the charge in advocating for these farmer and retail friendly solutions with policy makers.
At the end of the day, we know your resources – time, money, talent –are precious. That’s why we’re working with our retail-owners to deliver end-to-end solutions (products and services) to support the profitability of each and every acre. When you combine the offerings above with our retail owners’ local expertise and customized solutions, our system has a recipe to support farmers’ economic success that can’t be matched.
We also have a greater incentive because, when farmers are successful, our retail system is successful. And when we’re all successful, the communities we serve are able to thrive.
All photos are either the property of WinField United or used with permission.
Important: Before use always read and follow label instructions. Crop performance is dependent on several factors many of which are beyond the control of WinField United, including without limitation, soil type, pest pressures, agronomic practices, and weather conditions. Growers are encouraged to consider data from multiple locations, over multiple years, and be mindful of how such agronomic conditions could impact results.
© 2020 WinField United. Advanced Acre™, Answer Plot® and WinField® are trademarks of WinField United.
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