18 October 2024
ATR: Harvesting Dry Soybeans, Meat Recalls, and Skyrocketing Egg Prices @TheChadColby - E396
The Ag tribes Report discussed the impact of drought on soybean yields, with farmers facing significant losses due to low moisture levels. Soybeans are coming in at 8-10% moisture, well below the ideal 13%, leading to lower weights and potential quality issues.
A nationwide recall of 12 million pounds of meat and poultry due to listeria contamination was highlighted, affecting major retailers.
Egg prices have surged by 8.4% from August to September, reaching $3.82 per dozen, driven by avian flu outbreaks and the hurricane.
The Bitcoin price report revealed that one acre of high-quality farmland in Woodford County costs 0.26 Bitcoin. During his Peter Thiel Paradox Chad Colby emphasized the importance of upgrading smartphones for better productivity.
List of Worthy Adversaries: List of Worthy adversaries: https://x.com/i/lists/1815850820195475962
To learn more about Legacy Interviews visit https://www.legacyinterviews.com/
Speaker 1 0:00
The Ag tribes Report is brought to you by farm test, a field trial design, execution and analysis service that makes it easy to ask your fields which management practices perform best to start your field trials, visit farmtest.ag, and legacy interviews, a service that video records individuals and couples telling their life stories so that future generations have the opportunity to know their family history. Here's legacy interviews guest John Werner, detailing how the experience allowed him time to reflect and connect more deeply with his family.
Unknown Speaker 0:38
So what is it like to do a legacy interview.
Speaker 2 0:40
It made me think about things that I would probably never think about on my own, and certainly things that I may have said that when my family sees this, that I wouldn't, that we wouldn't have the occasion for me to say them to them, but it's incredibly important that they do hear it. What did you do to get ready for the interview? I did exactly what you said in your pamphlet when I first got it. I read it, and then I read it last night. It's different for everybody, but I can certainly see how you could over prepare for this, and that would not come out like I would think you would like it to if you just waiting for the questions. You know, if somebody's
Speaker 3 1:17
like, nervous or they don't really know what the value of this would be, what would you tell them?
Speaker 2 1:21
Get in here, get in here and do it. What do you got to lose? It's a chance that you will never take again. Probably good, bad or indifferent. I don't see any bad or indifferent on this. It's just all good stuff.
Speaker 1 1:40
Welcome to the Ag tribes report, a breakdown of the top stories affecting the culture of agriculture with your host. Vance Crowe, the report begins in 321, let's begin.
Speaker 3 1:55
Welcome to the Ag tribes Report. I'm your host. Vance Crowe, each week, I bring a co host to represent the perspectives of one of the many ag tribes that collectively make up US agriculture. This week, I am joined by the Chad Colby. Colby is recognized as a pioneer in agricultural technology, serving as the founder and principal of Colby AgTech, where he provides insights into emerging technologies for agriculture. He's originally from Central Illinois, just like me, and he has a farming background. He is speaks at conferences worldwide, and he hosts a segment on This Week in agribusiness focusing on the latest in farm technology. Chat. Welcome to the Ag tribes report.
Speaker 4 2:39
It's great to be here Vance a little different than our normal how we usually meet at a conference, but looking forward to it. My friend,
Speaker 3 2:46
in this episode of the Ag tribes report, we are going to delve into the drought conditions affecting soybeans across the Midwest. The moisture levels are way down. We're going to explore how this is going to impact farmers. We're also going to discuss the massive recall of 12 million pounds of meat and poultry potentially contaminated with listeria. And then we're going to talk about the soaring prices of things like eggs due to the avian flu outbreaks and the hurricane. So after that, we're going to jump into the bitcoin price report. We're going to talk about Chad's Peter Thiel paradox, and, of course, figure out who his worthy adversary. So since we're going to do it in just 30 minutes, we better get started right now. This is coming straight from x. The beans are dry. Farmers from across the Midwest are bringing in beans well below 13% and this is everybody from private messages to text messages I'm getting are talking about how growers are going to take a pretty big hit. They don't get docked necessarily for low moisture if it's above 11% but what happens is, normally, soybeans, you want them to be at about 13% when you go below that, you start losing the amount of weight that you would get. And so farmers are actually bringing in the huge amount of bushels off their acreage, but because they're weighing less, they're not doing as well. Chad, what do you think are things looking pretty rough in in near Goodfield, Illinois, where you're at, are they doing okay for moisture?
Speaker 4 4:19
Now you're 100% right? There's some pockets of places where the yields have been really good, and they were able to get them out early. But lo and behold, most of this, it's been really dry. I've been in some combines here the last week and a half, and I can tell you a frustration Vance. You know, when guys have to cut the beans because it's time, but the moisture is seven, 8% that's a that's a problem, and they know they're losing there's no two ways around it. Now, we did have frost here recently. That was a concern. A couple weeks ago, it was so warm here in the Midwest, if you remember, we had 80 and 85 degree temperatures, but there were still a lot of big green stems, a lot of the other issues in the field, because we hadn't had a frost yet. So they were not only. Were they hard to combine? Okay? Because of that, they were also super dry. And I know several, several producers that foregoed and said, we're just going to wait. There's no reason to and now they're back into beans now, because obviously, when you get frosty mornings, they'll pick up some moisture and so forth. But it's been a it's been a real thing this year. Is really dry soybeans, and it's pretty well everywhere. Yeah,
Speaker 3 5:22
this morning I woke up and I was checking a report and said, Missouri right now is the driest October on record. And I had planted several trees in my backyard. I love to plant them in fall. And, man, digging out there, the soil just turned to powder. Same, same. Up there.
Speaker 4 5:40
Yeah, absolutely. Actually, I was north of where you grew up, just a little bit ago, north of Eureka, which is right between Bloomington and Peoria, and there was a fellow chisel plowing, and I swear to goodness, he was making as much dust as spring tillage out in a field. And that is so rare in the fall, that powdery dust kind of the dust cloud with a chisel in the field. And that we don't, we don't ever see that. It's super dry here as well.
Speaker 3 6:03
I gotta say, I don't even know what a chisel plow is. What is that
Speaker 4 6:06
it's doing deep tillage after harvest. So big, heavy tillage, where you're in the ground, you know, could be eight to 10 inches deep. Typically there's disc blades on the front, but real heavy tillage. And normally in the fall, there's plenty of moisture still in the ground. And this time of year, because it's so dry, I talked to one other fellow who is prematurely getting a lot of wear on his chisel plow because the ground is so dry, it's so abrasive. I mean, there's just, there's a lot of challenges with that. I know everybody that I talked to can't wait for a good rain. I don't mean a quarter inch or half inch. I mean a couple three inches. That's if you look at the drought map. Like you mentioned, there's a lot of places quickly getting to that severe area where we really need some moisture. So hopefully it looks like the winter forecast is pretty good. Vance, I'm sure you've seen it. You know, obviously moisture, whether it comes in snow or not, doesn't matter. We just need moisture. Yeah.
Speaker 3 6:57
Phil Luce of white commercial tweeted out he said a bushel of soybeans is 60 pounds, so it takes more beans to make a bushel when they have less water in them. And I was hearing numbers like 11% 10% and then, just like you said, 8% it seems like at that point you could start having beans shatter. You could start getting docked for them not being high quality.
Speaker 4 7:18
And the next conversation you're going to have is corn moisture. Because corn moisture is the is in the exact same boat where guys got in the field early. Wanted to pick some corn because they have drying, you know, facilities. You know, their start typically around 30% 25% wherever you wherever your happy spot is. And guess what? They go play with beans for a little bit. Come back, because of the weather that you and I talked about a lot of guys I heard of some 10% moisture corn out of the field, which is absolutely unheard of. And it's the same scenario in corn too. So this, this with this moisture? Should
Unknown Speaker 7:51
corn be 1515?
Speaker 4 7:52
Oh, wow. Okay, same thing. And a lot of guys are using their facility. So what they're doing is they're putting their their corn in in bends. Even though it's a little dry, they'll turn the fans on at night to draw in some moisture so they can get the moisture up in corn. But a lot of producers also don't have that ability, and they've got to take it to the to the elevator. So there's a fine line there. Certainly it is a challenge right now. I'll tell you that. And anybody listening tonight in the combine, we hear your frustration, because it's a real thing right now, and harvest is going to come out lightning fast. We're already seeing the numbers crazy. Most of my friends are just burning through harvest. Because no
Speaker 3 8:34
nothing you say, burning through the fields. I was actually just talking with Zach Smith up in Northern Iowa, and he was saying they've actually had to shut down a little bit because the stuff is so dry. They're worried about fires.
Speaker 4 8:44
Oh, yeah, this has been, that's a real thing, yeah, for good friend of mine, the other day called me. He's like, is this crazy? But I brought a water wagon out to the field, because at least if there's a fire. He goes, I can't afford to lose a combine or a tractor and I don't want the neighbor's field to go up. He's, like, they got a water wagon. They actually brought something out, because the fire departments have been really busy. And if you're on X looking around, it's not hard to find a combine or a cotton harvester or whatever it is catching on fire this time of year just because it's so dry right now. So you're 100% right Vance,
Speaker 3 9:14
well, harvest is always got its quirks, you know, if you can't get into the fields because of rain, and this year it's too dry, and so it's always like that. All right, on to headline number two. This comes from PBS. I saw this when people were talking about meat production in the United States, and pointed out that just yesterday, 12 million pounds of meat and poultry were recalled over possible listeria contamination, a nationwide recall of meat and poultry products potentially contaminated with listeria has expanded to nearly 12 million pounds and now includes ready to eat meals sent to us, schools, restaurants and major retailers. The updated recall includes prepared salads, burritos, other foods sold at places like. Costco Trader Joe's Target, Walmart Kroger. And the meat used in these products were processed at one facility in Durant, Oklahoma, and while no illnesses have been confirmed in connection with this recall, about 1600 people are infected every year with listeria, and frankly, 260 people die each year, according to the CDC Chad, had you heard about this food recall? And do you shop at any of the places that are saying they might have that food?
Speaker 4 10:29
Yeah, I actually had heard about it. And then you and I were kind of talking off air, a little bit coincidentally, yesterday, I was at one of the listed retailers here yesterday, and there were plenty of eggs in the in the in the counter there, if you would, for sale. But certainly, you know, one of the things that, and I've seen it in my lifetime, that we all take for granted for is the safety of our food, the USDA, we can't talk high enough about what they do in regards of keeping our food supply safe. It's only until you see issues like this that you realize that that's happening out there in the background, and thank goodness it is. Vance,
Speaker 3 11:07
well, I completely disagree with you on the USDA is the thing that keeps us so safe. I think, I think that meat producers want to produce a safe product, and they make mistakes. And I think that oftentimes a big thing that's going on, and this was a conversation going on on X was we're paying people so cheap because consumers are so unwilling to pay high prices for meat that we produce it cheaply. And then you have all these circumstances where you have people that are maybe not the most skilled, or you're making work too long, or they're not doing the cleanup that they have to do. So I when I look at a huge recall like this, I think of when I was living in Africa, and everybody was worried that their corn had been contaminated with aflatoxin, and I remember how scary that was, because they were like, you can't see it, you can't smell it, you can't cook it away. There's nothing you can do. And if you get it, it's gonna mess you up. It may even kill you. And that made me like realize that if you don't trust your food to your to your point about having safe food, it is a scary thing, and it can make you do all kinds of weird things when you're wondering, is there something hidden in here? Is there something I should be afraid of? Well,
Speaker 4 12:18
one thing's for sure, that I've seen a lot here, maybe in the last 10 years, kind of maybe a little more to your point is there's a lot of really good local, you know, places that you can go and buy your meats that are not in big box retailers. And those businesses are thriving big time across the Midwest. Several of my friends that I know. One in particular, all his cattle goes to himself. He sells them privately. And there's a ton of that that goes on now, way more than it was when maybe you and I were young. I mean, I don't know how it was for you, but when we grew up on our farm as a kid, you know what, we butchered our own hawks, and my dad would send them to the local butcher and we would eat livestock that we raised. Well, now you're not doing that because it's too easy at Target or Walmart or Costco or wherever to just go put it in your cart, but the reality is, especially since covid, there's a lot of there's a lot of farmers that have said, You know what, I don't care. They're going to pay for advance if they want it, and we're going to sell it to them. And I think that's one of the things that's really been nice locally. I know here locally, there's two or three of them. I know that you can go to the local Berkshire shop, and I tell my wife that all the time, their stuff is fantastic, and it's all local. So there's
Speaker 3 13:33
been there, yeah, one of the best things to come out of covid was when people saw, Oh, hey, the supply chains can actually get wrecked. And then they went out and found people. I know for us, we started getting a regular supply of beef, and we had one of chicken. I'm actually open to one now. So if anybody is in the St Louis area and has their own pasture raised chicken, I'd be into that. But it is. It is a fantastic component, and the more we can get regulations out of the way to make it as easy as possible, because I believe if you're a producer, if you're a butcher, your name is on that, on that sign, and so you're going to take care of it way more than if we rely on on huge, high volume packing houses and being sold through big box stores
Speaker 4 14:15
well, and a lot of thing too. It's regionalized, right? It's where you are in the country. I know good farmer friend of mine in central California. I visit them two or three times a year, and I'll never forget, this was probably five or six years ago. Vance, their doorbell rang and I went, there was nobody there, but there was a box, and in the box was their local was their local produce for the week. I mean, it was, and I'm like, well, we can't get that in Illinois, and we're laughing about it, because we don't, we don't have those crops right here. Vance, right? I mean, you know, you're a Midwest guy, but listen, in central California, that's what they do. They don't go to the store and get vegetables. It's on their porch every week, fresh. And he's like, we've been doing that for years, Chad. And I'm like, that's the coolest thing ever.
Speaker 3 14:56
It's a great thing. And you know, everybody wins. In that circumstance, the farmer gets paid a lot closer to what it's worth, and the consumer gets to have high quality stuff that they didn't have to wait for. Okay, moving on to our final headline. This was actually brought to my attention by a previous podcast guest, which is Christina Hudson Kohler, who said, Hey, watch out. There is a whole lot of egg laying hens that are that are dying right now. Avian Flu just hit a flock in Utah, and I think we're going to see prices continue to spike. According to the Bureau of Labor Statistics, the index for eggs was up 8.4% from August to September on a seasonally adjusted basis, after climbing 4.8% from July to August, the agency says the average price of a dozen large eggs in the US was $3.82 in September, up from $2.07 in September of 2023 this is something that people really feel quite acutely, because eggs are something you buy regularly, you start to get a pace for it. I know that that when you see those prices go up, you can tell a the whole CPI is going up. And part of the reason that this is going on is because there's now this highly pathogenic avian flu that's been confirmed in cache County, Utah, and then also, we lost a huge number of egg laying hens in places like Georgia and North Carolina, so more than 20 million egg laying hens are out of commission. Chad, with all this news, are you seeing the prices of eggs go up where you're at?
Speaker 4 16:38
Vance, it must be a sign of the times, because yesterday, in fact, we stopped at a store and I needed to get eggs and milk and bread. So when we were talking about this off air, I went, Well, I just did it yesterday. So the the counter that I saw, they were probably two thirds full price looked really normal to me, of what they what they had been. So maybe not quite yet, but certainly, you know, when you look at the numbers, it should be alarming to everybody to keep this on your radar. You know, you mentioned it when we were talking about about even beef production. There are a lot of local egg suppliers around here, quite a few farms that do that. Obviously they're not going to keep up with with the huge demand, especially. What about the holidays, Vance, you got a major, major holiday push here over the next six, seven weeks. That's that's a major concern for a lot of people.
Speaker 3 17:27
Yeah, that's a great point. You know, I was at the grocery store and all of the large amounts of eggs where you could buy them in 18 or 24 that was all sold out. And in fact, really, the only eggs you could get the in a large volume, which I need, because I got all these little kids at home, is that I was paying about 450 for for a dozen eggs. And I was the first time I've probably ever paid that amount. It was pretty shocking to me. And I think if, if eggs are a core part, a core staple of your diet, you're going to be feeling that on the bottom line of your budget,
Speaker 4 18:03
yeah, there's no question. I want to say the the eggs I bought yesterday, you can only buy them in an 18 pack, and don't quote me, but it was in the high threes. It wasn't four, it was three something. But certainly I kind of did my homework too. It's this has been a growing thing here the last year. Is looking at that egg price, and you know, you don't really notice it when it just goes up a little bit. But when you hear these issues that are coming, it's probably watchful to think that it's going to keep going and maybe a little quicker than you used to.
Speaker 3 18:29
Yeah, with little kids, I know we eat somewhere between six to eight eggs every single morning. So that's like, you just see it immediately. Yeah,
Speaker 4 18:37
that's right, us too. My wife said she cooks amazing eggs, and we go through a ton here as well. That's right,
Speaker 3 18:43
all right. Well, we'll keep an eye on that. And thank you to Christina Hudson Kohler for sending that story. If you have news that you think we should be reporting on the Ag tribes report, you can always send it to me on x at Vance Crowe, it is really helpful to me. I know that all of my friends in ag, on Thursday morning or Wednesday night, start getting poked by me to say, like, hey, what's the big story? What's the big story. So thank you to Christina and ROI farmer for bringing up some of the other cases, other stories we talked about here. All right, now on to the Bitcoin land price report. So, Chad, where do you live in this here United States, and how much does an acre of high quality farm ground go for?
Speaker 4 19:24
You know, we're kind of in the mid teens. Is pretty typical. You got to remember, we're close enough to enough big cities that a lot of it depends on location, location where things can get crazy. But, you know, good flat land here Woodford County, you know, you're in that 17 arena somewhere like that. I think the interesting part is, is certainly it seems like there's less farms for sale. That's been a that's been a trend, that's been going around as well. And I don't know if it's going to stay that way. Obviously estate sales always kind of seem to be the driver of that, right? When somebody's retiring or it's. Getting passed on where a lot of the a lot of the ground around us, as you know, growing up here, it stays in the family for generations and generations, and never comes available, right? So we have a lot of that right now too.
Speaker 3 20:11
Yeah, it's fun to talk to somebody from Woodford County where I grew up, because now, if we're saying that the price of land is 17,000 we'll say 17 five is what we kind of talked about before. And when I was growing up, I remember when an acre of ground sold for $9,000 and people were like, absolutely floored by this. This was like, this is absolutely absurd that it's going for so much, and now you're seeing almost double that. If we compare this to the price of Bitcoin, today's price, when I checked, was 67,500 so one acre of farm ground would cost you about point two, six Bitcoin per acre. And in other words, one bitcoin in Woodford County would buy you 3.86 acres of farmland in Woodford County. Chad, how does that sit with you pricing land in Bitcoin.
Speaker 4 21:02
You know, I think it's safe to say, and we you and I kind of laughed about it before the show is, I'm one of those guys that's just totally on the fence with Bitcoin. You know, certainly, there's a lot of people that have capitalized in that market well. And I think it's, it's probably getting to the point where it's going to stay. There's been some bumps in the in the road over the years with that product and and what it all means for agriculture, but I think, I think it's obviously, it's got its place. And you know, when you talked about what the land price was when you were a kid, I remember having those come in my early 50s. And I remember when 3500 acres was a ton of money for land. And you know, now it's not uncommon, if land's in the right place for it to bring north of 20. I mean, it happens all the time, so it's just a different animal. And the reality is, is guys are buying land for different reasons, right? And what I mean by that they're not necessarily buying it because they need a return on the on that farm ground for the cash rent. That's not what they're doing. And I think that's been the interesting part about farm ground for the last well, forever is there's always peaks and valleys in that. And I remember being in college, and, you know, my dad was fortunate enough when he farmed to not buy land at those peaks before the fall. And I remember some good friends of mine that bought some land, and they told me, you know, it nearly took us out because they leveraged the acres, they had to buy that. And now, guess what? It's worth, you know, 60% less than they paid. And, oh no, what are we going to do? And that was a real deal, and I don't think we're going to be back to that. But, you know, interest rates were high. I mean, everything was a perfect storm when that happened, you know, well, you
Speaker 3 22:37
made the perfect case for me for why ag and Bitcoin should be going hand in hand, because one of the big reasons that people buy land is because it's scarce, and they know that their dollars can be printed away. But if they put those dollars into land, you can't just go out and print more land and just like that, just like land Bitcoin, you can't go print more of and so it is a finite resource, and so people that are trying to park their money in land in order to be able to preserve its value have the opportunity to buy it in Bitcoin, and then it's a lot more liquid of an investment. You can trade it, you can sell it, you can do it much faster. And that brings land prices way closer to the utility value, so that it's we want the land to be as close to the utility value as possible, because then it makes it easier for farms to get passed down. It makes it so people that are living on those farms are the ones working that land, as opposed to farming it out to somebody else. Have you ever heard Bitcoin explained as a way of getting land prices back to a sane place?
Speaker 4 23:37
No, I haven't, but I'll tell you this, and I know you're in that space heavily. You know, the challenge of getting farms to the next generationism is it's a monumental effort that we it had, I would tell you, it hasn't improved the last 10 or 15 years at all. There's still a lot of people that struggle with that transition Vance. And you're in that space, you know, the stories. And I think whatever the tool is, it takes you to get from point A to B, which I mean through a Generation Change man, all hands on deck. To get that done successfully takes a lot, a lot of expertise.
Speaker 3 24:12
Well, all right, now let's move on to the Peter Thiel paradox. This is where I'm going to ask Chad, what is one thing that you believe that almost nobody you know in your ag tribe agrees with you on see
Speaker 4 24:24
this thing right here? Go upgrade your phone. It drives Vance. It drives me out of my mind when I jump in a cab and talk to a farmer and they got a button on their smartphone. Still, it's look, it's one of those tools that you have that you think I don't need to upgrade it, because the one I have still works. Well, that's wonderful, that it still works. They're not work boots. You don't wear out the soles in them and then get a new pair. What you have to understand is the new technology in these devices is monument. All especially, you know, I'm a bad example, because I'm going to get a new phone every year I have since the first iPhone. I think I'm a number 23 or 24 whatever it is. I'm not saying you need to go to hyper speed, but by all means, if your device is more than two years old, call Verizon tomorrow, go online and get yourself a new phone and thank me later, because that $500 is very well spent, and it drives me crazy that people don't do that. It's it makes no sense to me. It's
Speaker 3 25:25
well spent. What are they going to get for that upgrade? What's holding them back by having these old phones? Well, I
Speaker 4 25:31
think the thing is, is it's all the things that people get frustrated with their phones with, whether it's battery life, connectivity, the screen you can't see in bright light, even the speakers, everything gets so much better, especially if you're jumping two or three generations. It's not like it's just a little change. It's a massive change. The analogy I always give when I speak is if I told you tomorrow that Chevrolet is coming out with a new diesel pickup that has 2000 that has, you know, 1500 horsepower, gets 60 miles of the gallon and cost the same amount of money. You guys would all go buy it tomorrow. You would drive to the Chevy dealer and go, I'll take one of those. Oh, twice the fuel economy and twice the horsepower. It's still 100 I'll buy one, but on a smartphone, they'll use a five year old one, okay? Because it still works while they're in their $90,000 pickup buying their next 160 acre farm, they got a five year old phone next to him, and I It baffles me. Sorry, I'll get off the soapbox, but I gotta
Speaker 3 26:25
say you converted me in a way. When you first started off with this, I was, I was gonna tank your score. You're gonna get, like, a two or something, because I figure basically everybody's wife already agrees with you. Like, yes, finally, get a new phone so I can get a hold of you. But you have convinced me of one thing, is that there, lark, likely are a lot of people out there that don't see that it is a worthwhile investment, and it would change the way they're doing things. So I'm gonna go ahead and give you a four nine for for your Peter Thiel paradox. That's
Speaker 4 26:56
That's, well, listen, it's one of those things when I, when I do presentations, and I and I explain to them gently on why three or four slides, talk about the performance, show them about it. You know, one of the best things Vance, and I know you've gotten this when you speak, is the replies you get from people after, when it's three days later or a week later, and I get a text and I say, Hey, no problem. You're welcome. And the text is, hey, I just left the cell phone store. I got a new phone. I've had it for two days, Chad, and you know what? You were, right? Thank you. And I think, Well, I
Speaker 3 27:31
gotta give you credit. That's, that's, if people will go out and spend money based on something you said. That's, that's, that's respecting all right, we got to keep moving if we're gonna stay on time, because now we're moving to the worthy adversary. This is where I asked Chad, who is one person that you respect but you strongly disagree with? You
Speaker 4 27:50
know, you and I talked off air about this. You know, when I grew up, my mom says, If you can't say something nice about something, you don't say anything at all. And you know, I know this is a blanket statement. I warned you I was going to say it is, you know, I have a lot of respect for politicians. I don't care what side of the aisle you're on. I don't care what you do because you're you're taking upon yourself to invest your time and energy to go make a difference. Okay, in that same breath, I get beyond frustrated with, you know, you've been there for 20 years or 30 years, and now it's time to get some different people in, to do some different things. And it's just frustrating for me, because, you know, I'm not 35 years old anymore. I'm like, you I'm, you know, I've got kids, and I, you think about their futures and what they're doing. That's, that's, that's frustrating for me, that that's probably a pretty lame, pretty lame definition. You
Speaker 3 28:49
definitely get a tank for that one. That's like a cop out answer. But I also think that is who you are, right? And that's exactly what this is designed to do, and that's the way you think. So I'm going to throw something out there. There is a podcast out there called the Red Scare podcast. I often refer to this as, imagine if you stumbled upon a group of off work strippers, right? And they're smoking cigarettes and they're gossiping, you know, you would like sit there and say, what would they have that's interesting to say, and then all of a sudden you realize they're talking about Tolstoy and Dostoyevsky and modern culture. So if you want to find something that will rock your world, you will not anticipate what you're about to hear. Go check out the Red Scare podcast. I did that because Chad's was lame, but this one will, uh, blow your hair back a little bit. So thanks for letting me have a good reason for that. All right, that is our it for the worthy adversaries. There is a list of worthy adversaries on my ex. I hope you go check it out. Chad, I want to thank you so much for coming on. If people wanted to know more about your work, your marketing work, where should they go to find out more? You can go
Speaker 4 29:59
to Cole. The agtech.com you can certainly enjoy us every week on This Week in agribusiness, we talk about the latest this week, we're talking about the new combine from Case IH, and some of the cool automation with that, which will be a lot of fun. We talk about everything under the sun there. And a lot of those episodes now, I think we've done, I don't know, north of 300 of them, most of them you can find on YouTube. And a lot of people have questions about stuff. If you got any questions, don't hesitate to reach out. I'm pretty easy to find, but you have to go to Colby agtech.com you can learn more.
Speaker 3 30:28
And I also want to thank our sponsors, farm test.ag that allows you to test products and that that marketers are selling to you, you can find out. Hey, is this a scientifically valid way? Is this really going to produce the type of product that I expect that it's going to and legacy interviews. If you are interested in getting your loved ones to record their life stories so that you can capture who they really are and be able to share that with your kids and grandkids in the future, go to the legacyinterviews.com website and join the wait list we are now really backing up as the holidays are approaching. And if you have been thinking about doing this, I implore you, don't wait any longer. Go to legacyinnervis.com All right, thank you for coming to this week's ag tribes report. We'll be back next week, and as always, feel free to disagree. You.
The Ag tribes Report is brought to you by farm test, a field trial design, execution and analysis service that makes it easy to ask your fields which management practices perform best to start your field trials, visit farmtest.ag, and legacy interviews, a service that video records individuals and couples telling their life stories so that future generations have the opportunity to know their family history. Here's legacy interviews guest John Werner, detailing how the experience allowed him time to reflect and connect more deeply with his family.
Unknown Speaker 0:38
So what is it like to do a legacy interview.
Speaker 2 0:40
It made me think about things that I would probably never think about on my own, and certainly things that I may have said that when my family sees this, that I wouldn't, that we wouldn't have the occasion for me to say them to them, but it's incredibly important that they do hear it. What did you do to get ready for the interview? I did exactly what you said in your pamphlet when I first got it. I read it, and then I read it last night. It's different for everybody, but I can certainly see how you could over prepare for this, and that would not come out like I would think you would like it to if you just waiting for the questions. You know, if somebody's
Speaker 3 1:17
like, nervous or they don't really know what the value of this would be, what would you tell them?
Speaker 2 1:21
Get in here, get in here and do it. What do you got to lose? It's a chance that you will never take again. Probably good, bad or indifferent. I don't see any bad or indifferent on this. It's just all good stuff.
Speaker 1 1:40
Welcome to the Ag tribes report, a breakdown of the top stories affecting the culture of agriculture with your host. Vance Crowe, the report begins in 321, let's begin.
Speaker 3 1:55
Welcome to the Ag tribes Report. I'm your host. Vance Crowe, each week, I bring a co host to represent the perspectives of one of the many ag tribes that collectively make up US agriculture. This week, I am joined by the Chad Colby. Colby is recognized as a pioneer in agricultural technology, serving as the founder and principal of Colby AgTech, where he provides insights into emerging technologies for agriculture. He's originally from Central Illinois, just like me, and he has a farming background. He is speaks at conferences worldwide, and he hosts a segment on This Week in agribusiness focusing on the latest in farm technology. Chat. Welcome to the Ag tribes report.
Speaker 4 2:39
It's great to be here Vance a little different than our normal how we usually meet at a conference, but looking forward to it. My friend,
Speaker 3 2:46
in this episode of the Ag tribes report, we are going to delve into the drought conditions affecting soybeans across the Midwest. The moisture levels are way down. We're going to explore how this is going to impact farmers. We're also going to discuss the massive recall of 12 million pounds of meat and poultry potentially contaminated with listeria. And then we're going to talk about the soaring prices of things like eggs due to the avian flu outbreaks and the hurricane. So after that, we're going to jump into the bitcoin price report. We're going to talk about Chad's Peter Thiel paradox, and, of course, figure out who his worthy adversary. So since we're going to do it in just 30 minutes, we better get started right now. This is coming straight from x. The beans are dry. Farmers from across the Midwest are bringing in beans well below 13% and this is everybody from private messages to text messages I'm getting are talking about how growers are going to take a pretty big hit. They don't get docked necessarily for low moisture if it's above 11% but what happens is, normally, soybeans, you want them to be at about 13% when you go below that, you start losing the amount of weight that you would get. And so farmers are actually bringing in the huge amount of bushels off their acreage, but because they're weighing less, they're not doing as well. Chad, what do you think are things looking pretty rough in in near Goodfield, Illinois, where you're at, are they doing okay for moisture?
Speaker 4 4:19
Now you're 100% right? There's some pockets of places where the yields have been really good, and they were able to get them out early. But lo and behold, most of this, it's been really dry. I've been in some combines here the last week and a half, and I can tell you a frustration Vance. You know, when guys have to cut the beans because it's time, but the moisture is seven, 8% that's a that's a problem, and they know they're losing there's no two ways around it. Now, we did have frost here recently. That was a concern. A couple weeks ago, it was so warm here in the Midwest, if you remember, we had 80 and 85 degree temperatures, but there were still a lot of big green stems, a lot of the other issues in the field, because we hadn't had a frost yet. So they were not only. Were they hard to combine? Okay? Because of that, they were also super dry. And I know several, several producers that foregoed and said, we're just going to wait. There's no reason to and now they're back into beans now, because obviously, when you get frosty mornings, they'll pick up some moisture and so forth. But it's been a it's been a real thing this year. Is really dry soybeans, and it's pretty well everywhere. Yeah,
Speaker 3 5:22
this morning I woke up and I was checking a report and said, Missouri right now is the driest October on record. And I had planted several trees in my backyard. I love to plant them in fall. And, man, digging out there, the soil just turned to powder. Same, same. Up there.
Speaker 4 5:40
Yeah, absolutely. Actually, I was north of where you grew up, just a little bit ago, north of Eureka, which is right between Bloomington and Peoria, and there was a fellow chisel plowing, and I swear to goodness, he was making as much dust as spring tillage out in a field. And that is so rare in the fall, that powdery dust kind of the dust cloud with a chisel in the field. And that we don't, we don't ever see that. It's super dry here as well.
Speaker 3 6:03
I gotta say, I don't even know what a chisel plow is. What is that
Speaker 4 6:06
it's doing deep tillage after harvest. So big, heavy tillage, where you're in the ground, you know, could be eight to 10 inches deep. Typically there's disc blades on the front, but real heavy tillage. And normally in the fall, there's plenty of moisture still in the ground. And this time of year, because it's so dry, I talked to one other fellow who is prematurely getting a lot of wear on his chisel plow because the ground is so dry, it's so abrasive. I mean, there's just, there's a lot of challenges with that. I know everybody that I talked to can't wait for a good rain. I don't mean a quarter inch or half inch. I mean a couple three inches. That's if you look at the drought map. Like you mentioned, there's a lot of places quickly getting to that severe area where we really need some moisture. So hopefully it looks like the winter forecast is pretty good. Vance, I'm sure you've seen it. You know, obviously moisture, whether it comes in snow or not, doesn't matter. We just need moisture. Yeah.
Speaker 3 6:57
Phil Luce of white commercial tweeted out he said a bushel of soybeans is 60 pounds, so it takes more beans to make a bushel when they have less water in them. And I was hearing numbers like 11% 10% and then, just like you said, 8% it seems like at that point you could start having beans shatter. You could start getting docked for them not being high quality.
Speaker 4 7:18
And the next conversation you're going to have is corn moisture. Because corn moisture is the is in the exact same boat where guys got in the field early. Wanted to pick some corn because they have drying, you know, facilities. You know, their start typically around 30% 25% wherever you wherever your happy spot is. And guess what? They go play with beans for a little bit. Come back, because of the weather that you and I talked about a lot of guys I heard of some 10% moisture corn out of the field, which is absolutely unheard of. And it's the same scenario in corn too. So this, this with this moisture? Should
Unknown Speaker 7:51
corn be 1515?
Speaker 4 7:52
Oh, wow. Okay, same thing. And a lot of guys are using their facility. So what they're doing is they're putting their their corn in in bends. Even though it's a little dry, they'll turn the fans on at night to draw in some moisture so they can get the moisture up in corn. But a lot of producers also don't have that ability, and they've got to take it to the to the elevator. So there's a fine line there. Certainly it is a challenge right now. I'll tell you that. And anybody listening tonight in the combine, we hear your frustration, because it's a real thing right now, and harvest is going to come out lightning fast. We're already seeing the numbers crazy. Most of my friends are just burning through harvest. Because no
Speaker 3 8:34
nothing you say, burning through the fields. I was actually just talking with Zach Smith up in Northern Iowa, and he was saying they've actually had to shut down a little bit because the stuff is so dry. They're worried about fires.
Speaker 4 8:44
Oh, yeah, this has been, that's a real thing, yeah, for good friend of mine, the other day called me. He's like, is this crazy? But I brought a water wagon out to the field, because at least if there's a fire. He goes, I can't afford to lose a combine or a tractor and I don't want the neighbor's field to go up. He's, like, they got a water wagon. They actually brought something out, because the fire departments have been really busy. And if you're on X looking around, it's not hard to find a combine or a cotton harvester or whatever it is catching on fire this time of year just because it's so dry right now. So you're 100% right Vance,
Speaker 3 9:14
well, harvest is always got its quirks, you know, if you can't get into the fields because of rain, and this year it's too dry, and so it's always like that. All right, on to headline number two. This comes from PBS. I saw this when people were talking about meat production in the United States, and pointed out that just yesterday, 12 million pounds of meat and poultry were recalled over possible listeria contamination, a nationwide recall of meat and poultry products potentially contaminated with listeria has expanded to nearly 12 million pounds and now includes ready to eat meals sent to us, schools, restaurants and major retailers. The updated recall includes prepared salads, burritos, other foods sold at places like. Costco Trader Joe's Target, Walmart Kroger. And the meat used in these products were processed at one facility in Durant, Oklahoma, and while no illnesses have been confirmed in connection with this recall, about 1600 people are infected every year with listeria, and frankly, 260 people die each year, according to the CDC Chad, had you heard about this food recall? And do you shop at any of the places that are saying they might have that food?
Speaker 4 10:29
Yeah, I actually had heard about it. And then you and I were kind of talking off air, a little bit coincidentally, yesterday, I was at one of the listed retailers here yesterday, and there were plenty of eggs in the in the in the counter there, if you would, for sale. But certainly, you know, one of the things that, and I've seen it in my lifetime, that we all take for granted for is the safety of our food, the USDA, we can't talk high enough about what they do in regards of keeping our food supply safe. It's only until you see issues like this that you realize that that's happening out there in the background, and thank goodness it is. Vance,
Speaker 3 11:07
well, I completely disagree with you on the USDA is the thing that keeps us so safe. I think, I think that meat producers want to produce a safe product, and they make mistakes. And I think that oftentimes a big thing that's going on, and this was a conversation going on on X was we're paying people so cheap because consumers are so unwilling to pay high prices for meat that we produce it cheaply. And then you have all these circumstances where you have people that are maybe not the most skilled, or you're making work too long, or they're not doing the cleanup that they have to do. So I when I look at a huge recall like this, I think of when I was living in Africa, and everybody was worried that their corn had been contaminated with aflatoxin, and I remember how scary that was, because they were like, you can't see it, you can't smell it, you can't cook it away. There's nothing you can do. And if you get it, it's gonna mess you up. It may even kill you. And that made me like realize that if you don't trust your food to your to your point about having safe food, it is a scary thing, and it can make you do all kinds of weird things when you're wondering, is there something hidden in here? Is there something I should be afraid of? Well,
Speaker 4 12:18
one thing's for sure, that I've seen a lot here, maybe in the last 10 years, kind of maybe a little more to your point is there's a lot of really good local, you know, places that you can go and buy your meats that are not in big box retailers. And those businesses are thriving big time across the Midwest. Several of my friends that I know. One in particular, all his cattle goes to himself. He sells them privately. And there's a ton of that that goes on now, way more than it was when maybe you and I were young. I mean, I don't know how it was for you, but when we grew up on our farm as a kid, you know what, we butchered our own hawks, and my dad would send them to the local butcher and we would eat livestock that we raised. Well, now you're not doing that because it's too easy at Target or Walmart or Costco or wherever to just go put it in your cart, but the reality is, especially since covid, there's a lot of there's a lot of farmers that have said, You know what, I don't care. They're going to pay for advance if they want it, and we're going to sell it to them. And I think that's one of the things that's really been nice locally. I know here locally, there's two or three of them. I know that you can go to the local Berkshire shop, and I tell my wife that all the time, their stuff is fantastic, and it's all local. So there's
Speaker 3 13:33
been there, yeah, one of the best things to come out of covid was when people saw, Oh, hey, the supply chains can actually get wrecked. And then they went out and found people. I know for us, we started getting a regular supply of beef, and we had one of chicken. I'm actually open to one now. So if anybody is in the St Louis area and has their own pasture raised chicken, I'd be into that. But it is. It is a fantastic component, and the more we can get regulations out of the way to make it as easy as possible, because I believe if you're a producer, if you're a butcher, your name is on that, on that sign, and so you're going to take care of it way more than if we rely on on huge, high volume packing houses and being sold through big box stores
Speaker 4 14:15
well, and a lot of thing too. It's regionalized, right? It's where you are in the country. I know good farmer friend of mine in central California. I visit them two or three times a year, and I'll never forget, this was probably five or six years ago. Vance, their doorbell rang and I went, there was nobody there, but there was a box, and in the box was their local was their local produce for the week. I mean, it was, and I'm like, well, we can't get that in Illinois, and we're laughing about it, because we don't, we don't have those crops right here. Vance, right? I mean, you know, you're a Midwest guy, but listen, in central California, that's what they do. They don't go to the store and get vegetables. It's on their porch every week, fresh. And he's like, we've been doing that for years, Chad. And I'm like, that's the coolest thing ever.
Speaker 3 14:56
It's a great thing. And you know, everybody wins. In that circumstance, the farmer gets paid a lot closer to what it's worth, and the consumer gets to have high quality stuff that they didn't have to wait for. Okay, moving on to our final headline. This was actually brought to my attention by a previous podcast guest, which is Christina Hudson Kohler, who said, Hey, watch out. There is a whole lot of egg laying hens that are that are dying right now. Avian Flu just hit a flock in Utah, and I think we're going to see prices continue to spike. According to the Bureau of Labor Statistics, the index for eggs was up 8.4% from August to September on a seasonally adjusted basis, after climbing 4.8% from July to August, the agency says the average price of a dozen large eggs in the US was $3.82 in September, up from $2.07 in September of 2023 this is something that people really feel quite acutely, because eggs are something you buy regularly, you start to get a pace for it. I know that that when you see those prices go up, you can tell a the whole CPI is going up. And part of the reason that this is going on is because there's now this highly pathogenic avian flu that's been confirmed in cache County, Utah, and then also, we lost a huge number of egg laying hens in places like Georgia and North Carolina, so more than 20 million egg laying hens are out of commission. Chad, with all this news, are you seeing the prices of eggs go up where you're at?
Speaker 4 16:38
Vance, it must be a sign of the times, because yesterday, in fact, we stopped at a store and I needed to get eggs and milk and bread. So when we were talking about this off air, I went, Well, I just did it yesterday. So the the counter that I saw, they were probably two thirds full price looked really normal to me, of what they what they had been. So maybe not quite yet, but certainly, you know, when you look at the numbers, it should be alarming to everybody to keep this on your radar. You know, you mentioned it when we were talking about about even beef production. There are a lot of local egg suppliers around here, quite a few farms that do that. Obviously they're not going to keep up with with the huge demand, especially. What about the holidays, Vance, you got a major, major holiday push here over the next six, seven weeks. That's that's a major concern for a lot of people.
Speaker 3 17:27
Yeah, that's a great point. You know, I was at the grocery store and all of the large amounts of eggs where you could buy them in 18 or 24 that was all sold out. And in fact, really, the only eggs you could get the in a large volume, which I need, because I got all these little kids at home, is that I was paying about 450 for for a dozen eggs. And I was the first time I've probably ever paid that amount. It was pretty shocking to me. And I think if, if eggs are a core part, a core staple of your diet, you're going to be feeling that on the bottom line of your budget,
Speaker 4 18:03
yeah, there's no question. I want to say the the eggs I bought yesterday, you can only buy them in an 18 pack, and don't quote me, but it was in the high threes. It wasn't four, it was three something. But certainly I kind of did my homework too. It's this has been a growing thing here the last year. Is looking at that egg price, and you know, you don't really notice it when it just goes up a little bit. But when you hear these issues that are coming, it's probably watchful to think that it's going to keep going and maybe a little quicker than you used to.
Speaker 3 18:29
Yeah, with little kids, I know we eat somewhere between six to eight eggs every single morning. So that's like, you just see it immediately. Yeah,
Speaker 4 18:37
that's right, us too. My wife said she cooks amazing eggs, and we go through a ton here as well. That's right,
Speaker 3 18:43
all right. Well, we'll keep an eye on that. And thank you to Christina Hudson Kohler for sending that story. If you have news that you think we should be reporting on the Ag tribes report, you can always send it to me on x at Vance Crowe, it is really helpful to me. I know that all of my friends in ag, on Thursday morning or Wednesday night, start getting poked by me to say, like, hey, what's the big story? What's the big story. So thank you to Christina and ROI farmer for bringing up some of the other cases, other stories we talked about here. All right, now on to the Bitcoin land price report. So, Chad, where do you live in this here United States, and how much does an acre of high quality farm ground go for?
Speaker 4 19:24
You know, we're kind of in the mid teens. Is pretty typical. You got to remember, we're close enough to enough big cities that a lot of it depends on location, location where things can get crazy. But, you know, good flat land here Woodford County, you know, you're in that 17 arena somewhere like that. I think the interesting part is, is certainly it seems like there's less farms for sale. That's been a that's been a trend, that's been going around as well. And I don't know if it's going to stay that way. Obviously estate sales always kind of seem to be the driver of that, right? When somebody's retiring or it's. Getting passed on where a lot of the a lot of the ground around us, as you know, growing up here, it stays in the family for generations and generations, and never comes available, right? So we have a lot of that right now too.
Speaker 3 20:11
Yeah, it's fun to talk to somebody from Woodford County where I grew up, because now, if we're saying that the price of land is 17,000 we'll say 17 five is what we kind of talked about before. And when I was growing up, I remember when an acre of ground sold for $9,000 and people were like, absolutely floored by this. This was like, this is absolutely absurd that it's going for so much, and now you're seeing almost double that. If we compare this to the price of Bitcoin, today's price, when I checked, was 67,500 so one acre of farm ground would cost you about point two, six Bitcoin per acre. And in other words, one bitcoin in Woodford County would buy you 3.86 acres of farmland in Woodford County. Chad, how does that sit with you pricing land in Bitcoin.
Speaker 4 21:02
You know, I think it's safe to say, and we you and I kind of laughed about it before the show is, I'm one of those guys that's just totally on the fence with Bitcoin. You know, certainly, there's a lot of people that have capitalized in that market well. And I think it's, it's probably getting to the point where it's going to stay. There's been some bumps in the in the road over the years with that product and and what it all means for agriculture, but I think, I think it's obviously, it's got its place. And you know, when you talked about what the land price was when you were a kid, I remember having those come in my early 50s. And I remember when 3500 acres was a ton of money for land. And you know, now it's not uncommon, if land's in the right place for it to bring north of 20. I mean, it happens all the time, so it's just a different animal. And the reality is, is guys are buying land for different reasons, right? And what I mean by that they're not necessarily buying it because they need a return on the on that farm ground for the cash rent. That's not what they're doing. And I think that's been the interesting part about farm ground for the last well, forever is there's always peaks and valleys in that. And I remember being in college, and, you know, my dad was fortunate enough when he farmed to not buy land at those peaks before the fall. And I remember some good friends of mine that bought some land, and they told me, you know, it nearly took us out because they leveraged the acres, they had to buy that. And now, guess what? It's worth, you know, 60% less than they paid. And, oh no, what are we going to do? And that was a real deal, and I don't think we're going to be back to that. But, you know, interest rates were high. I mean, everything was a perfect storm when that happened, you know, well, you
Speaker 3 22:37
made the perfect case for me for why ag and Bitcoin should be going hand in hand, because one of the big reasons that people buy land is because it's scarce, and they know that their dollars can be printed away. But if they put those dollars into land, you can't just go out and print more land and just like that, just like land Bitcoin, you can't go print more of and so it is a finite resource, and so people that are trying to park their money in land in order to be able to preserve its value have the opportunity to buy it in Bitcoin, and then it's a lot more liquid of an investment. You can trade it, you can sell it, you can do it much faster. And that brings land prices way closer to the utility value, so that it's we want the land to be as close to the utility value as possible, because then it makes it easier for farms to get passed down. It makes it so people that are living on those farms are the ones working that land, as opposed to farming it out to somebody else. Have you ever heard Bitcoin explained as a way of getting land prices back to a sane place?
Speaker 4 23:37
No, I haven't, but I'll tell you this, and I know you're in that space heavily. You know, the challenge of getting farms to the next generationism is it's a monumental effort that we it had, I would tell you, it hasn't improved the last 10 or 15 years at all. There's still a lot of people that struggle with that transition Vance. And you're in that space, you know, the stories. And I think whatever the tool is, it takes you to get from point A to B, which I mean through a Generation Change man, all hands on deck. To get that done successfully takes a lot, a lot of expertise.
Speaker 3 24:12
Well, all right, now let's move on to the Peter Thiel paradox. This is where I'm going to ask Chad, what is one thing that you believe that almost nobody you know in your ag tribe agrees with you on see
Speaker 4 24:24
this thing right here? Go upgrade your phone. It drives Vance. It drives me out of my mind when I jump in a cab and talk to a farmer and they got a button on their smartphone. Still, it's look, it's one of those tools that you have that you think I don't need to upgrade it, because the one I have still works. Well, that's wonderful, that it still works. They're not work boots. You don't wear out the soles in them and then get a new pair. What you have to understand is the new technology in these devices is monument. All especially, you know, I'm a bad example, because I'm going to get a new phone every year I have since the first iPhone. I think I'm a number 23 or 24 whatever it is. I'm not saying you need to go to hyper speed, but by all means, if your device is more than two years old, call Verizon tomorrow, go online and get yourself a new phone and thank me later, because that $500 is very well spent, and it drives me crazy that people don't do that. It's it makes no sense to me. It's
Speaker 3 25:25
well spent. What are they going to get for that upgrade? What's holding them back by having these old phones? Well, I
Speaker 4 25:31
think the thing is, is it's all the things that people get frustrated with their phones with, whether it's battery life, connectivity, the screen you can't see in bright light, even the speakers, everything gets so much better, especially if you're jumping two or three generations. It's not like it's just a little change. It's a massive change. The analogy I always give when I speak is if I told you tomorrow that Chevrolet is coming out with a new diesel pickup that has 2000 that has, you know, 1500 horsepower, gets 60 miles of the gallon and cost the same amount of money. You guys would all go buy it tomorrow. You would drive to the Chevy dealer and go, I'll take one of those. Oh, twice the fuel economy and twice the horsepower. It's still 100 I'll buy one, but on a smartphone, they'll use a five year old one, okay? Because it still works while they're in their $90,000 pickup buying their next 160 acre farm, they got a five year old phone next to him, and I It baffles me. Sorry, I'll get off the soapbox, but I gotta
Speaker 3 26:25
say you converted me in a way. When you first started off with this, I was, I was gonna tank your score. You're gonna get, like, a two or something, because I figure basically everybody's wife already agrees with you. Like, yes, finally, get a new phone so I can get a hold of you. But you have convinced me of one thing, is that there, lark, likely are a lot of people out there that don't see that it is a worthwhile investment, and it would change the way they're doing things. So I'm gonna go ahead and give you a four nine for for your Peter Thiel paradox. That's
Speaker 4 26:56
That's, well, listen, it's one of those things when I, when I do presentations, and I and I explain to them gently on why three or four slides, talk about the performance, show them about it. You know, one of the best things Vance, and I know you've gotten this when you speak, is the replies you get from people after, when it's three days later or a week later, and I get a text and I say, Hey, no problem. You're welcome. And the text is, hey, I just left the cell phone store. I got a new phone. I've had it for two days, Chad, and you know what? You were, right? Thank you. And I think, Well, I
Speaker 3 27:31
gotta give you credit. That's, that's, if people will go out and spend money based on something you said. That's, that's, that's respecting all right, we got to keep moving if we're gonna stay on time, because now we're moving to the worthy adversary. This is where I asked Chad, who is one person that you respect but you strongly disagree with? You
Speaker 4 27:50
know, you and I talked off air about this. You know, when I grew up, my mom says, If you can't say something nice about something, you don't say anything at all. And you know, I know this is a blanket statement. I warned you I was going to say it is, you know, I have a lot of respect for politicians. I don't care what side of the aisle you're on. I don't care what you do because you're you're taking upon yourself to invest your time and energy to go make a difference. Okay, in that same breath, I get beyond frustrated with, you know, you've been there for 20 years or 30 years, and now it's time to get some different people in, to do some different things. And it's just frustrating for me, because, you know, I'm not 35 years old anymore. I'm like, you I'm, you know, I've got kids, and I, you think about their futures and what they're doing. That's, that's, that's frustrating for me, that that's probably a pretty lame, pretty lame definition. You
Speaker 3 28:49
definitely get a tank for that one. That's like a cop out answer. But I also think that is who you are, right? And that's exactly what this is designed to do, and that's the way you think. So I'm going to throw something out there. There is a podcast out there called the Red Scare podcast. I often refer to this as, imagine if you stumbled upon a group of off work strippers, right? And they're smoking cigarettes and they're gossiping, you know, you would like sit there and say, what would they have that's interesting to say, and then all of a sudden you realize they're talking about Tolstoy and Dostoyevsky and modern culture. So if you want to find something that will rock your world, you will not anticipate what you're about to hear. Go check out the Red Scare podcast. I did that because Chad's was lame, but this one will, uh, blow your hair back a little bit. So thanks for letting me have a good reason for that. All right, that is our it for the worthy adversaries. There is a list of worthy adversaries on my ex. I hope you go check it out. Chad, I want to thank you so much for coming on. If people wanted to know more about your work, your marketing work, where should they go to find out more? You can go
Speaker 4 29:59
to Cole. The agtech.com you can certainly enjoy us every week on This Week in agribusiness, we talk about the latest this week, we're talking about the new combine from Case IH, and some of the cool automation with that, which will be a lot of fun. We talk about everything under the sun there. And a lot of those episodes now, I think we've done, I don't know, north of 300 of them, most of them you can find on YouTube. And a lot of people have questions about stuff. If you got any questions, don't hesitate to reach out. I'm pretty easy to find, but you have to go to Colby agtech.com you can learn more.
Speaker 3 30:28
And I also want to thank our sponsors, farm test.ag that allows you to test products and that that marketers are selling to you, you can find out. Hey, is this a scientifically valid way? Is this really going to produce the type of product that I expect that it's going to and legacy interviews. If you are interested in getting your loved ones to record their life stories so that you can capture who they really are and be able to share that with your kids and grandkids in the future, go to the legacyinterviews.com website and join the wait list we are now really backing up as the holidays are approaching. And if you have been thinking about doing this, I implore you, don't wait any longer. Go to legacyinnervis.com All right, thank you for coming to this week's ag tribes report. We'll be back next week, and as always, feel free to disagree. You.
