Bell Bank Hosts AgViews Live Conference

"You can't manage the weather. You can't manage GO politics, but you can manage the farm and the ranch business, in other words, manage your finances, manage the business."

FARGO, N.D. (KVRR) — Times are tough for producers with the drought and the pandemic, but Bell Bank’s AgViews Live Conference is providing tips on how to handle operations.

“You can’t manage the weather. You can’t manage GO politics, but you can manage the farm and the ranch business, in other words, manage your finances, manage the business,” Virginia Tech Agriculture Finance Professor Dr. David Kohl said.

Bell Bank brings together producers, agribusiness people, and guest speakers for their agriculture conference.

Lynn Paulson leads Bell Bank’s Agribusiness development. He says the industry is moving towards organic products.

“Cell-based is coming really quickly. We were talking to a silicon valley investor on a deal and he was talking about all the money that is coming into the alternative protein space from outside. It’s huge,” Paulson said.

Agriculture Finance professor Dr. David Kohl says 61-percent of 2020 farm income came from government payments. He says we are in a supercycle.

“What a supercycle is conversions of events that bring unprecedented high prices for 4,5 or a 6 year period,” Kohl said.

Kohl doesn’t believe the supercycle we’re in will last very long. He says China is our biggest competitor in the agriculture industry.

“Over the past 8 years, they have invested a tremendous amount of money in countries around the world. 68 countries around the world over a trillion dollars. Places like Brazil and Argentina. They want to become the world economic military leader by 2040 and they’re on the path to do that,” Kohl said.

Kohl believes producers in North Dakota need to focus on their management. Beginning with the Business IQ test, which is a 15 questionnaire assessing how operations are doing.

“It’s a device that will help you incrementally improve your business, so it puts the odds on your side, so you can maintain competitiveness in the business. One of the things we found in a recent study is that the higher the business IQ the better the financials. That was pretty exciting,” Kohl said.

There are two more conferences in Sioux Falls and Wisconsin.

You can find more information by clicking here.

Categories: Business, North Dakota News