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Agrimarketing : June 2008
Publisher/Editorial Director ____________________________________________ Lynn Henderson (LynnH@AgriMarketing.com) ph: 636/728-1428, ext. 2001 Managing Editor ____________________________________________ Audrey Evans (AudreyE@AgriMarketing.com) ph: 636/728-1428, ext. 2003 EDITORIAL ____________________________________________ NAMA Liaison Editor Jenny Pickett (firstname.lastname@example.org) AM Editorial Advisory Board: Mike Borel, The Context Network Tim Brackman, National Corn Growern Assn Erika Brandt, AgCareers.com Jim Farrell, Farmers National Company Russ Green, CLAAS Jerry Harrington, Pioneer Hi-Bred Laura Henke, Charleston|Orwig Tommy Jones, John Deere Crop Insurance Laura Mayfield, McCormick Company Pat Morrow, BASF Steve Rhea, Rhea & Kaiser Brad Schu, Land O’Lakes/Purina Mills Angie Skochdopole, Quarry Integrated Comms Bob Wilhelm, AdFarm CIRCULATION _________________________________________________ Send subscription inquiries and address changes to: P.O. Box 16123 St. Louis, MO 63105 PRODUCTION _________________________________________________ Design/Layout Audrey Evans Design for NAMA News Jennifer Pickett ADVERTISING SALES ____________________________________________ Advertising Sales and Customer Service Manager Judith Knoll (JudyK@AgriM arketing.com) ph: 636/728-1428, ext. 2002 AgriMarketing is sent to qualified executives employed by corporate agribusinesses and their communication agencies, farm media, trade associations and others providing services to North American agriculture. is published by: Henderson Communications L.L.C. 1422 Elbridge Payne Road, #250 Chesterfield, MO 63017 Phone: 636/728-1428 FAX: 636/777-4178 E-mail: email@example.com ® THE CURRENT LANDSCAPE Even the most clairvoyant of agri-marketers probably couldn’t predict the impact of $6 corn and $14 soybeans. Here’s how it looks today: • Unprecedented profitability for most crop producers a 2,000 acre corn producer’s net income has grown from $98,000 in 2005 to over $760,000 last year. • Higher costs for a variety of reasons, including energy costs, supply, and demand, agribusinesses have increased their prices significantly. Notable examples are the 40% increase in the glyphosate market and the tripling of fertilizer prices. As a result of the price increases and volumes sold, their earnings and stock values are at record levels, making them the darlings of Wall Street in the midst of a dreary general economy. • High level of anxiety. High prices and costs do not guarantee a crop. Rolling the dice that Mother Nature will play fair, producers laid out the money, hoping for the best. This year’s planting season threw most of them a spitter. Complicating things, many producers still anguish over when to sell their crop. With 25% moves in the market, their lives have become even more stressful. And, their significantly higher lines of credit have their lenders’ full attention. • The livestock industry is suffering (see this issue’s cover article, pg 44). • A new crop of millionaires. As prices have gone up, so has the price of land. Anyone who owns 200 acres of average producing corn/soybean land now has an asset of $1,000,000. Although there is no data showing the mag- nitude of this change, we can safely assume that 10% of the 1.8 million owners of U.S. cropland fall in that category. So, our estimate is 180,000 people have crossed over the millionaire threshold (on paper, anyway). • Remember the landlord. With an average increase of $100 an acre in rent over the past three years, those 900,000 owners who rent out their land are receiving, collectively, an additional $15 billion annually. • The Food “vs.” Fuel debate. Wasn’t even an issue. That’s where the industry stands today. What will it look like if corn hits $10 and soybeans are at $20? AM 4 AgriMarketing ¦ June 2008 THIS MONTH IN AgriMarketing Five Years Ago (2003) • Pioneer signs a licensing agreement with Monsanto for the YieldGard Rootworm corn technology. • Case IH moves its cotton picker production to Benson, MN, and its com- bine plant to Grand Island, NE. Both had been located in E. Moline, IL. Ten Years Ago (1998) • Monsanto acquires DeKalb Genetics Corp. for $2.5 billion. • Farm Journal acquires Professional Farmers of America. • Brad Robb is promoted to Ass’t Dir of Comms at the Cotton Board. • Harvest States Cooperatives and Cenex merge to create Cenex Harvest States Cooperatives (now CHS) . Harvest State’s John Johnson is named Pres/Gen’l Mgr. Twenty Years Ago (1988) • Monsanto names Bartels & Carstens, St. Louis, MO, as its agency for its ag business. Joining the agency are former Monsanto staff members Jim Robertson , Dave Althaus and Steve Barr. Joe Osborn joins the agency from former Monsanto agency Muller Jordan Weiss. • Dutch Ver Steegh, long time Acc’t Supv on American Cyanamid retires. • Fletcher/Mayo/Assoc., St. Joseph, MO, is acquired by Doremus & Co., owned by the Omnicom Group. AM Daily news and updates about the Agricultural Industry can be obtained by going to: www.AgriMarketing.com. For a free subscription to AgriMarketing Weekly e-newsletter, go to www.AgriMarketing.com. Lynn Henderson Publisher
July August 2008
Canadian Agribusiness Employer Guide 08