Good morning.
Calling all life-without-banana stories!
That's what Dole is asking for this week anyways. The company kicked off National Banana Day (April 19) by searching for people who have never tried a banana. (Ever!)
This "banana unicorn" stands to win a year of free bananas—which might not be an apeeling prize if they end up not liking that first bite.
Stories:
- Supporting Ukraine, Nyet its Grain
- Soy-Based Road Improvements
- Alt. Financing
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Supporting Ukraine, Nyet its Grain |
turbo83 from Getty Images
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You’re not you when you’re Hungary. Snickers won’t help here, though.
In case you’ve been living under a rock the size of Moscow: Russia invaded Ukraine last February, and things have been USSReally tense since. Russians blocked Ukrainian grain exports, but eventually agreed on the Black Sea Grain Initiative to alleviate threats of hunger in Africa, the Middle East, and Asia.
The deal was extended but is set to expire in May. Meanwhile, Russia has said nyet to extending it again if the West doesn’t remove sanctions on Russian grain.
Bans, bans everywhere: Hungary, Poland, Slovakia, Romania, and Bulgaria recently banned imports of Ukrainian grain to protect their own farmers’ bottom line as news of Russia’s hesitation to extend the Black Sea grain deal broke. Plus, bottlenecks in transportation are still impacting Ukrainian grain exports and have caused prices to plummet—cutting into farmers’ incomes in other countries.
Bitter in Brussels: But Brussels is roasting its sprouts as the headquarters of the European Commission, which manages trade on behalf of the 27 member countries. They’ve said the unilateral moves by the European Union members "will not be tolerated."
In a letter to the countries, European Commission President Ursula von der Leyen wrote, "Unilateral measures can only play into the hands of the adversaries of Ukraine and should not erode our unwavering support for Ukraine."
The European Commission has proposed an initial support package for the most affected farmers.
Where this goes: Talks between Ukrainian authorities and those in the countries banning its grain imports are expected in the coming days.
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→ Not on our street. Several ag organizations have written a letter to the SEC asking it to reconsider asking farmers to follow Wall Street rules, like Scope 3 reporting requirements.
→ Connecting, connecting… Broadband technical assistance is coming to rural communities, thanks to $20M in funding from the USDA.
→ Slowdown in getting seeds down. Planting progress could stall this month, with freezing temperatures predicted in the upper Midwest and wet weather coming to the Delta and mid-South.
→ Processors in trouble. The Department of Labor is asking meat and poultry processors to eliminate illegal child labor within their supply chains, especially since incidents have increased by almost 70% since 2018.
→ Start building! Almost 30 AgTech companies and nonprofits are asking Congress to bump up manufacturing capacity for new ag technologies.
→ Dollars for AI. After raising $22M, San Francisco-based ClimateAi will expand its platform, which offers actionable insights on future pest/disease pressure, weather patterns, water risks, and more.
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Soy-Based Road Improvements |
Jupiterimages from Photo Images
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Solving rural infrastructure problems and creating a new market for soybeans just might be a double win for farmers. Several U.S. companies are engineering ways to improve asphalt and concrete durability… using soybeans.
Rough roads: Nationwide, U.S. roads received a C- in the 2021 Infrastructure Report Card, released by the American Society of Civil Engineers. While C’s get degrees, poor road conditions make rural life and commodity transportation that much more difficult—considering 43% of public roads are in poor or mediocre condition.
Soundbite: "If we don’t have a well-maintained system of rural roads and bridges, farmers will not be able to efficiently get their soybeans and grain to market." – Tim Scates, Illinois soybean farmer.
Salvation through soy: PoreShield, an Indiana-based company, claims to have a solution: a concrete enhancer with a soybean base that can drastically extend the life of the concrete—by up to 9 times. Each gallon of PoreShield uses a bushel of soybeans.
Another benefit to the product? It’s 93% bio-based, making it safer for handlers and reducing potential runoff.
PoreShield isn’t alone. RePlay, produced by BioSpan Technologies, is also pushing into the soy-based concrete supplement market.
Putting soy to the test: The Soy Transportation Coalition (STC) has partnered with both RePlay and PoreSheid in various Illinois and Ohio counties to pilot their products.
If the soy-based road improvements pan out as expected, farmers will be able to celebrate a new avenue for smoothly hauling their soybeans to market.
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SPONSORED BY GRAIN MARKET INSIDER
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Your Commodity Market Guide
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There’s no crystal ball for the grain market. But we believe this is pretty close.
Welcome to Grain Market Insider, a new service from Stewart-Peterson. It’s where corn, soy, and wheat farmers get daily commentary, market recommendations, weather, and more to make the best market decisions for their farms. Plus, understand the "why" behind those choices. So you feel confident in the direction you’re headed.
You want to maximize your profits — and we think that now you finally have the straightforward tools to do exactly that. Insights will come straight to your phone, with 3x/day texts and emails.
So easy, you can make marketing decisions right from the field.
Grain Market Insider is priced at a low $39.99/month. Because we believe every farmer deserves the insight and confidence to maximize their livelihood.
But that price is only after a free 60-day trial — exclusively available to Magnetic Ag subscribers. Sign up here.
Disclaimer: Grain Market Insider is a service of Stewart-Peterson Inc., a publishing company. Futures and options trading involve significant risk of loss and may not be suitable for everyone.Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.
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Tomorrow is Earth Day! Earth Day began in the United States in 1970. But when did Earth Day go international?
- 1975
- 1988
- 1990
- 1995
Answer at the bottom of the email.
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When the perfect agricultural investment opportunity comes along, the first question is usually, "What’s in your wallet?" And most of the time you likely need a little help financing those large purchases.
Tradition, tradition! While traditional lending is the most common funding method, alternate lending methods are gaining traction.
Alt.-what? Alternative ag lenders aren’t banks, but rather private companies and publicly traded firms searching for chances to use their wealth to back meaningful work.
Do we know them? You may have heard of a few: AgAmerica, Alternative Equity Advisors, Conterra Ag Capital, Farmers Business Network, and Sandton Capital Partners.
It’s a no-brainer to search for the lowest interest rate, especially with crazy high input costs and shrinking margins. Creative funding with alternative ag lenders might be the option you need.
How to talk to an alt. ag lender: don’t go alone. Bring your lawyer, your accountant, tax advisor, and others who you trust to help with your business decisions and in the negotiation process.
Find the right fit: Are you a traditional financer or would you prefer a profit(and loss)-sharing model?
Soundbite: "Make sure you run the numbers, be aware of any limitations and understand the farming election if necessary." – Scott Miller, principal and director of national tax solutions with Pinion
And don’t forget to check with FSA to make sure your financing arrangement doesn’t make you ineligible for their payments.
"Why’d you have to go and make things so complicated?" Alternative ag lending might feel like uncharted waters but it can be an innovative way to finance your dreams. Do your research and keep an open mind. Knowledge is power!
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C. 1990. That year, 200M people in 141 countries participated in the modern environmental movement. Today more than 1B people are involved in the Earth Day movement in 193 countries.
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Written & Edited by Sheridan Wimmer, Jen Hill, Amelia VanLandegen, and Ashley Scoby
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