Future Proof

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Partners & Friends,

I just finished reading The Future Proof Farm by Steve Groff, and it stimulated many thoughts. The book in itself is a good read about regenerative agriculture. But it also generated thoughts about what we are doing at Hess Family Farm to secure our future with the production and financial/marketing aspects of what we do. In no specific order, here are some of the larger points:

  • Cover cropping for soil health, erosion control, and nutrient availability 

  • Strip-tilling for soil health and labor/equipment savings

  • Applying variable rate fertilizer to deliver nutrients specifically where they are needed

  • Utilizing financial management tools to track and analyze specific costs and income

  • Tiling every acre possible 

  • Placing high value on quality labor—both full- and part-time

  • Cultivating strong lender relationships

  • Locking in long-term low-interest loans

  • Hiring crop consultants to give us the capacity we do not have

  • Securing low-hour equipment with the latest technology 

  • Ensuring each crop is planted to provide the most potential for best yield

  • Having a written marketing plan

These days are filled with equipment and building maintenance, soybean and corn delivery, office tasks, final input purchasing, and attending live and online production and marketing meetings. Green energy is a hot topic on our farm as we analyze offers from wind and solar firms and stay abreast on the daily changes to CO2 pipeline proposals. 

A national energy policy is sorely lacking nationally and globally. Since 70% of everything we do involves energy, this leaves us vulnerable to whatever political winds blow the strongest. What is the long-term play for ethanol? Brazil's soybean harvest is coming on strong and looks to be the best and biggest yet. China's population decline is finally gaining attention…there goes a lot of long-term export demand.🙁 The remaking of global supply chains will change world economics far into the future. Food inflation is here to stay (for a while, anyway), but that does not mean the farmers are raking in more dough—check out this short video (or view the script here) from our friend, John Phipps.

Ali starts her last quarter at UChicago shortly. Goat showing season begins next month in our neck of the woods. Basketball season for our grandson, Walker, is almost over. Lindsay is due April 17th. Phyllis and I are enjoying our annual getaway to Riverview, Florida.

Fall Prices:

Corn—5.76

Soybeans—13.65

All questions and comments are welcome,

Steve