Kriti PatelTLDR:
- Bushel has released its annual State of the Farm Report, based on one of the largest farmer surveys in the industry.
- The report highlights the preferences and opinions of U.S. farmers, particularly focusing on technology usage and perceptions.
The latest State of the Farm Report from Bushel sheds light on key trends in farming technology for 2024. The report, based on a large farmer survey, reveals that a significant portion of respondents are from larger farms, with many having aggressive growth plans for the future. Younger farmers, especially those under 40 years old, are identified as key future customers and markets.
One of the key findings of the report is the aggressive adoption of technology by younger and growing farmers. Weather, accounting, and financial record-keeping emerged as high-priority activities for which farmers are using farm-related apps and software. Additionally, the report highlights a willingness among farmers to use digital platforms for submitting grain offers and selling grain to grain buyers.
Payment trends in the farming industry are also evolving, with a decrease in paper check payments and a rise in digital payment processors. Sustainability perceptions among farmers are also shifting, with more participants in carbon programs and increased adoption of practices like nutrient management and cover crops, especially among younger farmers.
When it comes to doing business with farmers, factors such as fast payments and marketing programs are identified as key reasons why farmers under 40 would choose to sell to one grain company over another. Communication preferences also play a role, with text messages emerging as the preferred channel of communication for farmers when engaging with grain buyers.
The State of the Farm Report by Bushel provides valuable insights into the current landscape of farming technology trends for 2024, emphasizing the importance of technology adoption among younger farmers, evolving payment methods, sustainability practices, and preferred communication channels in the industry.
