As unpredictable economic conditions persist, farmers, ranchers, producers and agribusiness leaders gathered for Bell Bank’s 11th annual AgViews Live seminar in Fargo, Mankato and Wisconsin Dells this summer. Lynn Paulson and Dr. David Kohl discussed takeaways for adapting to uncertainty, and touched on the biggest issues in the world of agriculture today.

Rick Brandenburger, president of Richland IFC in Breckenridge, Minn., appreciated the event’s comprehensive nature.

“AgViews Live provided an instructive, informational platform for the overall state of the ag economy, from where we have been recently to where we are now, and what the future looks like,” Rick said.

“Lynn and Dr. Kohl were very engaging,” added James Loe, president and CEO of Community Resource Bank in Northfield, Minn. “It was like we were just having a conversation.”

Thanks to everyone who attended this year’s AgViews Live!

Navigating Through Chaos

At this year’s event, Dr. Kohl’s presentation focused on how producers could take advantage of difficult circumstances, even though nobody knows what tomorrow will bring.

“It’s easy to say I don’t know what’s going to happen with tariffs, or I don’t know what China is going to do,” he said. “You can let chaos lock you up, or you can get your gameplan together and make opportunities of the chaos.”

Dr. Kohl’s tips for navigating through chaos included: 

• Cultivate a behavioral and management mindset. More than just checking off boxes, a behavioral mindset involves the ability to watch, respond to and implement your plan. “A lot of people can check boxes, but can you monitor, and can you execute?” he asked. Focus on building resiliency in your operation, and set goals for areas where you can improve.
• Build working capital. Financial liquidity can build a buffer for your operation during downturns, while also allowing you to be proactive when opportunities come along.
• Take care of yourself: While taking care of your financials is critical during uncertainty, Dr. Kohl also stressed the importance of taking care of yourself at the same time. Chaotic conditions can lead to anxiety and stress, which can take its toll over time. “Invest in yourself – pay attention to your physical, mental and spiritual health,” he advised.
   

Other topics covered at this year’s AgViews Live included:

Growing Global Competition: Both Lynn and Dr. Kohl discussed how intense competition from countries in the Global South presents a serious challenge to U.S. agriculture.

“It’s not just what those countries currently produce, but the potential of land they still have left to add to production is astonishing,” Lynn said.

“The world is catching up to us,” Dr. Kohl added.

Artificial Intelligence and Agriculture: From pest and disease detection to water management and livestock monitoring, the role of artificial intelligence (AI) in ag was a popular topic at AgViews Live. AI represents significant opportunities for an operation, and we’ll continue to see it becoming more involved with day-to-day farm and ranch operations.

Optimism About the Future: Despite the current challenges facing farmers and producers, both Lynn and Dr. Kohl expressed optimism about the future of U.S. agriculture. Toward the end of Fargo’s session, Dr. Kohl invited 23-year-old Jaden Hamilton from Rugby, N.D., and 16-year-old Riley Rickford from Barnesville, Minn., to participate in the question-and-answer portion of the event.

“We’ve talked about the challenges and all the uncertainty right now, but I’m optimistic about agriculture,” Lynn said, with the future of agriculture sitting next to him. “It’s people showing up for events like this – getting all the stakeholders of ag together. It’s really powerful.”