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July 16, 2021
Magnetic
TOGETHER WITH:
CashRent
Good morning.

'Back to school’ aisles at Target are stocked, which means we’ve got some exciting news to drop… it’s time to relaunch the Magnetic Campus Ambassador program for the fall semester!

We’re looking for 50 driven ag students who want to grow Magnetic’s reach and brand on their campus (and beyond!) with a goal of making Magnetic the go-to digital media resource for young ag professionals and farmers.

Gain marketing experience. Build a cross-country network. Get early access to job and internship opportunities. Plus, snag sweet Magnetic SWAG. What else do you need?

Interested or know someone who should be? See all the details and application here.

Friday’s headlines:
  • Mic(robes) Drop
  • Brazil: The Bean Queen
  • Yogurt's Identity Crisis

AGTECH

Mic(robes) Drop
Soil Meme
Fact: soil health fanatics can be the life of the party.

Also fact: soil health fanatics might just be saving the world.

Or at least that’s what one Arizona-based soil science startup is trying to do. MyLand is a soil health company that believes “healthy soil gives us healthy food, healthy people, and a healthy planet.”

And Canada-based Ag Growth International (AGI) is saying “us too!” They are acquiring a minority stake in MyLand so they can have a seat at the board table and install some of the MyLand systems throughout North America.

Soil systems service: The systems AGI wants to install would extract live, native microorganisms from a farmer’s soil and reproduce them in mass quantities. Those organisms are then integrated in a farm’s irrigation system to deliver them back to the ground. It’s like a chocolate fountain, but with soil.

Laying the groundwork: The MyLand system has been in development since 2010 and is unique in that it’s a service-based subscription model with a monthly fee. There’s no up-front cost, and farmers get full benefits of the cost savings, increased yields, increased land values, and carbon captures.

The president and CEO of AGI says this implementation of regenerative agriculture technology like MyLand’s is “critical from a sustainability perspective.”

Successful soil story: A farmer in the Arizona desert was able to increase organic matter from less than 1%  to more than 3% in a three-year period. Of course, the total impact of the technology depends on plenty of variables, but the company has proven results that continuous use of the MyLand System reduces input costs and increases yields.

Next up: The company is planning flagship soil health centers in Florida, California, and Texas to increase interaction with farmers.

Commodity Corner
Commodity Corner
Grains: Corn and soybeans sputtered to close the day while wheat made solid inroads as the markets watch continued hot, dry weather in the Plains and Pacific Northwest.

Livestock: Lower export sales dinged hogs while the cattle futures ended in opposite directions.


*As of Market Close [7/15/21]
Quick Hits

→ Someone’s yelling timber. July futures for the lumber market plunged nearly 70% from their historic highs in May, but don’t expect new home prices to shrink.

→ With a side of space rice, please. China harvested its first batch of rice that took a lunar voyage last year as the country has claimed some seeds mutate and can produce higher yields when planted back on Earth.

→ Livestock producers to get paid. Ag Secretary Tom Vilsack announced this week that producers who had to euthanize animals during the pandemic due to lack of access to processing will receive payments based on 80% of the fair market value.

→ Almonds’ sad summer. California’s drought-stricken almond operations are now expected to produce 13% less than original forecasts and 10% less than the 2020 crop.

→ France’s Amazon for tractors. Farmitoo, an online marketplace for farm equipment, raised $12M to scale its platform as 70% of French farmers surveyed shared they shop for equipment on the web.

→ Another attempt to kill off CAFOs. Several ag industry groups are already joining forces against a proposed bill from Sen. Cory Booker (D-N.J.) and Rep. Ro Khanna (D-Calif.) that would place an immediate moratorium on CAFO construction and phase them out by 2040.

→ India’s rain dance worked. Monsoon season came back to life after three weeks of dryness in key growing regions for rice, cane, corn, cotton, and soybeans.

→ Midnight pickin’. Farm laborers in the Pacific Northwest have begun cherry-picking duties as early as 1 a.m. to beat the daytime heat that’s both a safety hazard and can make the fruit mushy.

INTERNATIONAL AG

Brazil: The Bean Queen
Brazil Soybeans
alffoto | Getty Images
The U.S. is the reigning bean queen no more: instead, Brazil is now leading the global pack in soybean production.

In the 2020-21 season, Brazil produced a record 4.99B bushels of soybeans, up 8.9% from last season’s record crop of 4.59B bushels. This year’s land harvested will break the country’s record yet again with 95.16M acres, up 4.2% from last season.

Clearing new frontiers: Brazil’s soybean crop has grown exponentially in the last two decades, with production expanding first from the Southeast up to the Midwest and now to the North/Northeast regions.

No Some trees were harmed in the making of those soybeans. The soybean boom has come at the expense of millions of acres of Brazil’s forests and grasslands.

And mama’s always right: Mother Nature is seemingly warning against clearing forests and vegetation in Brazil for ag production, with signs of local and regional temperature increases.

But even with these regional weather changes costing Brazil's soybean farmers an estimated $3B+ per year in lost productivity, profits grabbed by claiming more land for soybeans outweigh the economic harm.

Carbon credit conservator: One new initiative involving 55 growers in MaranhĂŁo and Mato Grosso states, in the heart of Brazil's farm country, is trying to change that economic incentive by rewarding producers for their "environmental services."

Just for Fun
We’ve got a fan favorite today… our mystery crop acres map from @ZacharyStansell using USDA data.

Can you guess which vegetable crop is being mapped below?

Hint: it’s very popular in Southern-inspired dishes.

Answer on the scroll.
Okra Map
SPONSORED BY CASHRENT

A Farmland Marketplace, Not a Middleman
CashRent
When it comes to managing your farmland inventory, you should use the tools at your disposal.

Just take CashRent.com, for example.

CashRent is a farmland marketplace and land management system, where landowners and farmers can establish the lessor/lessee relationship and manage their current inventory.

Farmers can search and bid on available ground, allowing them to grow and maximize their yields, while landowners can award bids to farmers of their choice based on listing criteria. Our land values and rent data coupled with our aerial and soil maps, will increase your ROI and maximize your yield.

The math is simple… CashRent.com can elevate your farmland's potential. Check it out today.

Friday's Featured Gigs

A bunch of new roles calling your name on the Magnetic Ag Job Board:
  • Marketing Communications Specialist | AgVend
  • Livestock Accounting Manager / Senior Associates | KCoe Isom
  • Tax Managers / Senior Associates - Agriculture | KCoe Isom
  • Client Development Executive | Think Shift
  • Software Engineer | Tractor Zoom
  • Director, Communication Strategy | Feeding America
  • Director of Marketing | Ag Future of America

*Last day to snag the discount code -- post a job for only $1/day! Reply to this email to get the goods.
DAIRY

New Yogurt Ruling Fermenting
Yogurt is having an identity crisis.

The FDA set out to clear up the complex that’s been brewing since their last ruling in 1982 and after a National Yogurt Association citizen’s petition in 2000. Needless to say, things have evolved since then.

The ruling took effect July 12 and will allow for new “standards of identity for low-fat and nonfat yogurt” and update labeling requirements.

What it really means:  Additional products can be classified as yogurt under certain conditions as long as they are made with suitable milk-derived ingredients. The ruling also defines when certain labels can be used.

Positives: It encourages transparent food labeling (if you say you’re yogurt, you better be milk-based), and… ahem… might help out a certain other dairy labeling issue next June.

Downsides: The International Dairy Foods Association (IDFA) issued a formal objection to the FDA ruling. From their view, the new ruling doesn’t take into account a modernized view of yogurt and will remove some products from shelves. IDFA represents many yogurt manufacturers and offered feedback it says was “largely ignored” by the FDA.

Time will tell if the ruling has time to culture before the dust settles.

Refer & Rewards

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

Okra
Written by: Sheridan Wimmer, Savanna Barksdale, Rachel Robinson, Travis Martin
Editor: Ashley Scoby



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