Good Morning.
Call up Netflix: we have another heist on our hands.
Actually... several heists. A heck of a lot of heists. Way too many heists!
There's been a recent wave of precision ag equipment theft, which means thieves have targeted both retail locations and farmers themselves. Yield monitors, navigation systems, spray equipment, and more have all been up for grabs.
So if you're someone who uses this type of equipment, check out these helpful tips for securing your investments.
More (hopefully better) news on the scroll...
Stories:
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H2Oh No You Didn’t
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PayDay for Aphea.Bio
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Women in Ag, Accelerated
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Arizona residents are asking a Saudi Arabian company, "Water you doing?"
Digging themselves a hole: Arizona is notorious for being arid and constantly plagued by drought. Residents have taken steps to cut back on water usage, and there’s even a ban on natural grass in future single-family homes’ front yards in Scottsdale.
Thirst trap: But in La Paz County, there’s a Saudi-owned dairy company growing alfalfa hay, a water-intensive plant, for its dairy cattle. Without a drought, Arizona residents aren’t happy.
The company, Fondomonte Arizona LLC, is utilizing Arizona’s resources through an agricultural lease program. The program is through the Arizona State Land Department and allows land to be leased for agriculture for a maximum of 10 years.
Fondomonte leased 3,500 acres of land in an area west of Phoenix and has had unregulated access to the state’s groundwater. Arizona puts the onus of water conservation measures on local governments, and that’s why the Saudi company hasn’t met restrictions. Reports have shown the company consumes enough water to support a town of more than 50K people. Oh buoy.
Get well soon: The Arizona governor is considering not renewing the company’s lease after 2024.
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→ Carbon capture cooperation. The American Carbon Alliance is launching a coalition of others interested in advocating for the benefits of integrating carbon capture technology.
→ Reupping regen. ADM is expanding its regenerative ag program (from 1M acres to 2M); the program helps producers earn more from their soil health initiatives.
→ Where’s the beef? Japan. In a massive rebound since the 2004 embargo on U.S. beef, Japan is once again importing significant amounts of beef products from the U.S.
→ What year is it again? The current farm bill expires at the end of September this year, but few ag economists think the 2023 farm bill will actually be passed by that deadline.
→ Voting drama. According to students’ TikTok videos, FFA members in Texas are accusing adults of trying to rig a recent representative election.
→ No rain, no problem. Although the Midwest is still dealing with crippling drought conditions, the USDA is still forecasting a record corn yield (of more than 15M bushels).
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Aphea.Bio had a nice payday, and we aren’t talking about chump change.
The Belgian agritech startup pulled $78M in its Series C funding round.
Aphea… what? Founded in 2017, Aphea.Bio is committed to food security and a healthy food chain. Its goal is to provide science-based solutions for a "sustainable, reliable, and profitable" future in agriculture. Aphea.Bio’s portfolio is compiled of biostimulants and biocontrols "based on naturally occurring microorganisms."
With $78M, the company will invest in R&D for future biologicals, commercialize products, expand their markets, and focus on product launches.
Aphea.Bio has connections—and has partnered with the Bill & Melinda Gates Foundation to develop biostimulant products for sub-Saharan Africa and South Asia, two of the foundation’s most critical regions.
Soundbite: "This investment allows us to broaden our operations and bring our products to market at a larger scale, so we can address urgent agricultural challenges and meet the needs of farmers worldwide, while at the same time ensuring accessibility and affordability for smallholder farmers in low-income countries." — Isabel Vercauteren, Aphea.Bio CEO and co-founder
Aphea.Bio backers include European Circular Bioeconomy Fund (ECBF), Korys Investments, the Gates Foundation, SFPIM, and BNP Paribas Fortis.
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Farm/Ranch Employment Trivia
Since 1969 nationwide farm employment has declined by 35%. However, two regions have managed to hold steady to their cowboys. What regions have seen very little change in agricultural employment in the last 50 years?
A) Southeast
B) Northwest
C) Southwest
D) Rocky Mountains
E) Great Plains
Answer at the bottom of the email.
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fatihhoca by Getty Signature
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It seems like Barbie has the whole country thinking pink right now.
Ag is no exception. Four congresswomen have introduced the Women in Agriculture Act to lift up women in U.S. agriculture.
Female forward: The proposed legislation would prioritize research into agricultural machinery and equipment designed for women. The focus would be on tools designed and manufactured for their height and body type.
The Women in Agriculture Act would also create a funding pool for childcare facilities in rural areas. Access to child care is a challenge, especially when scheduling around agriculture’s seasonality and inconsistent revenues.
The act would create a USDA liaison role focused on women-led internships, education, and mentoring opportunities that are in high demand.
By the numbers:
- Women made up 26% of farm labor in 2019
- Women’s makeup of the farm labor force has increased 19% from 2009 to 2019
- Women receive 16% of Natural Resource Conservation Service contracts
Soundbite: "The Women in Agriculture Act provides resources specifically for women farmers and ranchers to level the playing field and work towards a fairer agriculture industry." — Representative Chellie Pingree of Maine, who led the bill’s introduction.
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C) Southwest and D) Rocky Mountain regions have retained stable levels of ag employment.
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Written & Edited by Sheridan Wimmer, Amelia VanLandegen, Kelsey Faivre, Jen Hill and Ashley Scoby
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