Dr. David Kohl
Are You Prepared for Agriculture’s Wild Ride?
It’s clear the wild ride in agriculture isn’t likely to end anytime soon. As a bank committed to ag lending for the long haul, we host this event to arm producers and others in agribusiness with as much information as possible for the best chance for success.
With expert insight from author and speaker Dr. David Kohl and Lynn Paulson, Bell’s director of agribusiness development, attendees will learn about new mega trends and how to make long-term decisions when dealing with short-term highs and lows.
“Seldom has there been a time with more issues, questions and concerns affecting agriculture,” Lynn notes. “With all the information coming at us from so many directions and sources, AgViews Live will help you figure out what’s important and what’s just noise.”
From Black Swan to Rising Phoenix
After years of depressed commodity prices following the super-cycle years of 2006-2013 and the “black swan” event that was the COVID-19 pandemic, the recent surge in commodity prices producers have been experiencing feels like a phoenix rising from the ashes.
One of the ways David says producers can continue “fueling the phoenix” is to look at financials for both the farm business and household budget more than once a year.
“When you’re dealing with bigger numbers in a very volatile, inflationary environment, things can get out of hand very fast,” David remarks. “Financial management intensity must pick up.”
He recommends producers look at their numbers once a month or at least once a quarter – adding that it can also be good practice to have “another set of eyes on the books.” He also reminds producers to focus on what you can control, and remember, “Business principals work regardless of where we are on the agricultural roller coaster.”
Those who attend AgViews Live will find out more of Dr. Kohl’s tips for “fueling the phoenix,” along with his thoughts on global issues and the state of the U.S. economy.
Land & Equipment Auction Experts Address Ag Trends
At the Fargo conference, which is open to the public, nationally recognized auction experts Kevin Pifer and Scott Steffes will explain why land and farm equipment values are red hot – and they’ll answer audience questions.
In the meantime, they both say what everyone is looking for right now is consistency.
“Generally moderation is always better in ag markets, whether you’re taking about commodity prices or land and equipment values,” Kevin comments. “Ideally it would be better if the market reflected more moderate changes in land and equipment values. Anytime we see bold increases, it seems to take a while for cash rents and land values catch up to what the market is able to pay.”
Like the auction industry, many facets of agriculture are changing – that’s why Kevin and Scott say it’s important to attend events like AgViews Live.
“You can always learn from your peers’ successes and mistakes, and the best environment to learn from them is when you’re together at a conference,” Kevin comments. “You’ll always leave with something you can implement in your own operation.
“Knowledge is power, and constant and consistent learning is the cornerstone of successful people,” Scott notes.
A great opportunity to stay on top of agriculture trends and hot topics, the conference has provided a lot of value to past attendees.
Logan Langerud of Hawley, Minn.-based Langerud and Sons, says, “Year after year, Dr. Kohl paints a broad perspective of the overall state of the economy, giving out important trends to follow over the next year, while doing it in an entertaining way.”
Dean D. Dreessen, president and CEO of Merchants State Bank in Freeman, S.D., says the conference offers valuable insights, and he would encourage younger producers to attend and more bankers to bring their customers.
“Bell does a good job of explaining what Midwest farmers are facing, and I’m always interested in Dr. Kohl’s impression of what’s impacting worldwide markets, as well as different parameters for debt-service management,” Dean explains. “As volatile as things are today, I’m interested to hear their ideas on what they think the next 12 to 24 months might bring.”
Lynn notes that while virtual ways of connecting and allowing groups to meet have been invaluable over the last 18 months, it seems many have missed in-person events and the social interaction such events provide.
“I’ve been part of a number of in-person presentations over the last few months, and they’ve all been very well-received and attended,” he explains. “We’re looking forward to seeing as many people as possible at our ag conference in July!”To read more about what Lynn, David, Kevin and Scott have to say about current trends and the ag economy, download the July AgViews newsletter.