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C IL | Given the recent concerns about profitability and cutting input costs, I looked into Farmers Business Network today.
As far as I can tell, they make money from subscriptions to aggregate farmer data and give you performance benchmarks and metrics for input rates and returns. If I understand correctly, they don't sell individual data and it is implied they don't sell aggregated data other than sharing it with internal customers. I don't quite have a handle on where all the aggregated data goes yet.
They make money from selling you chemicals, if you choose to go that route. You've just told them what you are paying locally, but they will offer you a price on chemicals.
They maybe make some money originating loans.
They are owned by a couple three Silicon Valley investors, are run out of CA, and have local-ish DSM type reps.
So ... I'm not against them making moneyif it makes me money, as long as they aren't turning around and giving that info out to agribusiness so they can capture more of my margin. For those of you who participate and are willing to share, what changes have you made based on your involvement, and where has the return shown Itself?
Have you changed hybrid choices and/or seeding/fertilizer rates/RX's? Made operational changes and achieved higher yields/lower marginal cost/Bu?
Beaten local retail chemical prices? Beaten local wholesale prices? Ordered Chemicals direct because it is cheaper? Switched to generics?
I suppose there is peace of mind simply in knowing where you stand, for input cost and yield/marginal-cost-per-bu vs other, probably savvy farmers even if not locally.
Thanks for any specifics and business-oriented comments. | |
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FBN users - what changes have you made/returns have you seen from it?
