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MARCH 5, 2021
Magnetic Ag News
TOGETHER WITH
Tom Farms Thread
Happy Friday. Parton us, but a country music icon has taken over the vaccine promo scene, and it's got us screaming 'Ooooh Dolly.'

Not only did the Queen of Country swap out 'Jolene' for 'vaccine' while humming along during her shot, but remember, she donated $1 million to Moderna's vaccine efforts last year. #Legend

Friday's news:
  • Crop Insurance Creeps Up
  • Pork's PRRS Problems
  • Coffee Needs A Lift

P.S. Magnetic needs help. Our team is on the hunt for a witty, creative, community-building Social Media Intern. Think you or someone you know has got the goods? Apply here.

MARKETS

A Quick Check Of Those Crop Insurance Quotes...
Cringing Farmers
GIPHY
Oh, snap. With planting season just around the corner, farmers might be experiencing a bit of β€œsticker shock” when making their crop insurance decisions this month.

Up, up, and away: According to ag economists, crop insurance prices have experienced the largest increase in more than a decade.

Here’s a breakdown of the USDA-set limits serving as β€œfloor prices”:

  • Corn: Up 18%, at $4.58/bushel, the highest price since 2014.
  • Soybeans: A 30% spike has prices at $11.87/bushel, not seen since 2013.
  • Cotton: A 22% jump has prices set at $0.83/pound, a 22% jump.


And as Successful Farming noted, producers will be incentivized to take supreme advantage of prices and plant β€œfencepost to fencepost and ditch to ditch.”

Go big or go home: With more export demand [see: China] and less of a stash of crop inventories than originally anticipated, prices are expected to drive higher.

But with higher prices, come higher premiums, and producers have seen a surge in crop insurance quotes as a result.

+ While we’re here: The latest trillion-dollar COVID-19 aid package has the House and Senate at odds. Recent bill tweaks left out help for farmers who suffered crop losses from 2020’s Iowa derecho and California wildfires. The Senate is working to reinstate what was stripped, but Democrat and Republican fisticuffs are expected before a resolution is agreed upon.

COMMODITY CORNER
Commodity Prices
Grains: Soybeans traded a 34.5Β’ range, yet settled within 3Β’ of the opening after a volatile day of trading.

Livestock: Larger than expected pork exports to China have the trade watching potentially rising rates of African Swine Fever in the Chinese hog herd.

+ Worth noting: The Fed announced limited changes to interest rates and inflation, sending the U.S. Dollar higher.

*as of market close 3/4/21*

QUICK HITS
β†’ Winter blitz knocks out chickens. The frigid February storm left Sanderson Farms with 1.6 million fewer chickens to process at plants in Mississippi, Louisiana, and Texas.

β†’ Syngenta speaks up. The crop input maker refuted a 2020 National Geographic article with flawed claims on wallabies' exposure to atrazine leading to reproductive abnormalities.

β†’ Bunge’s soybean solution. To curb deforestation by 2025 in Brazil, the global grain giant is partnering with dealers to use geospatial monitoring for environmentally-friendly soybean sourcing.

β†’ Blue light saves blueberries. Research at the University of Georgia found blue light can extend blueberry shelf life with no effects on fruit quality or disease development.


β†’ See it. Spray it. John Deere introduced its first factory-installed option in the See & Spray tech category with the ability to identify and spray growing plants at 12 mph.

PORK PRODUCTION

Pork's PRRS Problem
Pork Production PRRS
Waldemaus | Getty Images
The 4-1-1 on the newish porcine reproductive and respiratory virus (PRRS) strain 1-4-4 is that it hits incredibly hard and moves fast.

"The last thing the world needs right now is another virus." Say it again for the folks in the back Russ Quinn, DTN reporter.

Pork producers in the U.S. are not strangers to PRRS, but this highly infectious strain is turning heads. Popping up last October, PRRS 1-4-4 has a distinct MO: pigs going off feed, abortions, increased sow and piglet mortality, and increased mummies.

Infected herds also see higher post-weaning mortality and slowed growth in the finishing phase. One site saw a drop of 1.4 lbs of daily gain.

Pair 1-4-4 with another disease like the flu?Β  Things hit the fan. Not. good. things.

By the grim numbers:

  • 4-7 weeks of production aborted
  • 10-20% sow death losses in a matter of weeks
  • 50-80% weaned pig losses in the nursery


Zoom out: It’s not time to sound the alarms just yet. The strain is a fairly regional outbreak in the upper Midwest and positivity rates are comparable to what’s expected seasonally.

But you don’t hear about your neighbor’s house invasion and do nothing. You batten down the hatches.

Farmers’ response: Check your [biosecurity plan] before you wreck your [herd]. Experts note the importance of doubling down on biosecurity procedures ASAP.

JUST FOR FUN
Colorado Ranch
Powderhorn Ranch in Gunnison, Colorado is up for sale. Wanna getaway to this 2,117-acre retreat with top notch trophy mule deer units, summer grazing operations, and a cozy lodge to rest your head at night?

Put on those appraiser pants: what's the asking price?

Answer on the scroll
SPONSORED BY TOM FARMS THREAD

Does Your Farm Brand Need A Facelift?
Tom Farms Thread
Tom Farms doesn’t do things small.

The 69-year old global operation has always been a forward-thinker and early-adopter in production agriculture. And the same is true when it comes to increasing public awareness of the industry.

Just ask the 65,000+ social media followers they have.

That’s why they created Tom Farms Thread - a social, public relations, and branding consulting offering for farmers by farmers.

Kassi can help you and your team:

  • Build your farm’s brand voice.
  • Drive agriculturally-rich social engagement and education.
  • Measure your operation’s influence across your audience.


Just take it from Elizabeth at the Silent Shade Planting Company,

β€œTom Farms Thread & Kassi inspired our farm to begin telling our ag story on social media.Β  Kassi was an outstanding sounding board for how to get started and how to effectively communicate our message to the public.”

Level up your farm brand game and contact Kassi today.

SPECIALTY CROP

The Costly Coffee Shipping Situation
Coffee Shipping Prices
U.S. coffee processors are going stir crazy eyeing their cash flow these days.

What’s brewing: Skyrocketing shipping costs are forcing the caffeine connoisseurs to eat the influx or consider raising prices.

While small to mid-sized roasters feel the brunt of the hike, the big dogs aren’t immune either. Peet’s and JM Smucker Co - the owner of Folgers and Dunkin - are feeling the pinch, too.

Inflation issues: Freight across all commodities added $10 billion to costs in Q4 of 2020. For coffee, that meant prices spiked to their highest in a year, with upcoming summer and fall contracts already up an additional 15%.

All in all, getting coffee to consumers is currently more expensive than at any point in the past 5-10 years.

Where this goes: Delays are already expected for roasters waiting on coffee from Africa and South America. In other words, don’t be surprised if coffee prices creep up in 2021.

FRIDAY'S FEATURED GIGS

Corporate Development Manager | Cargill
β†’ Cargill needs the street smarts and board room savvy of a driven individual looking to manage complex mergers and acquisitions across a wide spectrum of its agrifood business units.

Director of Global Partnerships - Environment | Bayer
β†’ Are environmental initiatives your thing? Bayer is looking for a manager of platforms and partnerships on all things sustainability with a global view and strong thought leadership.

Global Market Insights & Business Development Manager | Pivot Bio
β†’ A strategy guru in the shifting nitrogen fertilizer market is Pivot Bio’s next hire. An ability to translate industry happenings and data into actionable business recommendations is the key here.

REFER & REWARDS
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Your link:

*Curious where you stand? You can always check your referral hub here.
ANSWER

Hall & Hall has the listing pegged at $3.39 million.
Written by: Travis Martin, Sheridan Wimmer, Savanna Barksdale

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