Agtech Action | Week of 06.13.20 - 06.19.20
China is buying US soy, Asia Pacific is adopting digital agriculture at rapid rate, and interesting perspective on uncertainty from a Maine lobsterman
Wow, what a week! I am exhausted, I do not know about you! So let’s take a break and read up on the news. From the newly formed Syngenta Group, to people wanting backyard chickens (sounds like a lot of work!), and Asia Pacific becoming the fastest growing market for digital agriculture. Exciting! And a friendly reminder about the Soy Challenge application (deadline tomorrow) and I will share some news on that very soon! Stay tuned and read on!
Food and the World:
BASF, Corteva file motions to intervene in federal court case that vacated Dicamba registrations
Coronavirus threatens Chicago’s last remaining trading pits
Trump’s trade representative says UK-US deal ‘almost impossible’ before 2020 election
Dairy farms’ emissions: one report says emissions from 13 big farms match that of entire UK while the dairy farms push back on the assumptions, findings made in that report
China buys 1.11M tonnes of US soy in 4 days (Wow! Great signs towards an economic recovery)
Big Four meatpackers accused of conspiring to inflate beef prices
‘Worst outbreak ever’: Nearly a 1M pigs culled in Nigeria due to swine fever(ASF demands more attention, press and resources to resolve)
As Mali fights coronavirus, cotton farmers fear loss of climate aid
More people eat frog legs than you think – and humans are harvesting frogs at unsustainable rates (I am NOT one of those that do, I will kindly pass on frog legs)
Why cattlemen should care about dog import legislation
Ag groups tell Court of Appeals to respect EPA’s dicamba decision
How coronavirus could change the way you get your favorite craft beer
192 Farm groups reiterate China must meet Phase 1 obligations
In new fuel clash, oil refiners ask for 52 retroactive ethanol exemptions
Retail beef prices up 13.2% in May
Corn sales window could be closing
Agriculture in the News:
Syngenta Group is launched (encompasses 4 business units including seeds and crop protection)
Americans support COVID-19 aid to farmers; trust remains high
Iowa’s new ag trespass law seeks to ‘intimidate and silence’ animal rights activists (it’s pretty clear where this author leans)
School lunch as we know it is over. But for school nutrition directors, the lessons keep coming
Aunt Jemima is out, and Uncle Ben is rebranding
In a rare outcome, former Bumble Bee CEO will be sent to prison for price-fixing
Asia-Pacific to be the fastest-growing market in digital agriculture sector, says study
The corn belt’s summer starts with rain, meteorologist says
Dicamba plaintiffs ask for immediate cutoff of weedkiller
Meatpacking workers often absent after Trump order to reopen (some are scared to return to work and have lost confidence with leadership during pandemic)
US corn crop’s condition dips, USDA says (soybean planting nears the finish line)
NY’s police will no longer crack down on street vendors – but who will?
Can cover crops save FL’s citrus?
Bayer scraps US plans to produce crop chemical blocked by court
Helpful Resources:
What’s it like to apply for CFAP? Article on applying for Coronavirus Food Assistance Program (CFAP)
Conservation Legacy Awards applications now open
Crop residue decisions can affect soil life
USDA Dairy Safety-Net Program signup to begin October 12
Fun:
FFA celebrates 2020 graduates through Forever Blue Network
Backyard chickens gain popularity in 2020. Here’s why (that is quite an undertaking to have chickens)
Virtual ‘Miles for Monarchs’ set for National Pollinator Week
Michigan dairy farmers partner with Domino’s to help flood victims
Interesting Reads:
Avocado oil is booming but most of it is rancid
The table says white: A national discussion has erupted, again, over racism in food media
Interview with Scott Horsfall, CEO of the California Leafy Greens Marketing Agreement
A piece on a Maine lobsterman and the uncertainty of his livelihood, industry
Pork producer cuts electricity bill, nitrates by more than half
Reduce antibiotic usage with on-farm culturing technology
Don’t sacrifice safety for ‘likes’ and ‘shares’
15 minutes with … Andrey Zarur of GreenLight Biosciences
Finance:
McKinsey sees momentum behind ag emissions reduction
Primewest acquires goFARM Asset Management for A$10M
Export opportunity convinces DPI to invest $56M into tomato processor
PA Capital aims to boost ag within second real assets fund
Willis Towers Watson seeds UK forestry fund with £30M
PSP-backed Aurora Dairies buys 4 farms in South Australia for A$40M
AgroFresh receives $150M commitment from Paine Schwartz through stock sale
Mindset Ventures announces new partner, $35M first close on $50M Fund III
You have only 1 day left to apply to the Soy Innovation Challenge (deadline of June 20th). This is a challenge centered around business mentorship, entrepreneurial networking with the Yield Lab's and the USB's network to help those soy innovations with the most promise grow, scale and commercialize. Our focus is on those technologies, innovations and ideas that better communicate market signals from the demand side back upstream to the farmers, and those ideas that are able to capture sustainability, environmental impacts and monetize that more directly back to farmers.
We invite startups, teams (research and project teams are welcome) with innovations all along the soy value chain that align with our outlined mission of capturing value back to farmers. Each selected participant gets assigned a business mentor for the duration of the challenge (1 year) and they are eligible for $100k in non-dilutive prizes. Apply now before the June 20th deadline.
Food and agriculture systems are showing great promise and resilience, from the successful raises and partnerships of several startups (Brightseed and AgroFresh to name a few) to the large exports of US goods. I have a feeling we are primed for a bounce back and agriculture and agtech will play an huge role in that. And hopefully the Yield Lab Institute can play a small but important role in accelerating agtech innovations to market for the benefit of the community, the US and the world.
If you would like to get involved or support the Yield Lab Institute initiatives, please email me at brandon@theyieldlab.com. Stay safe and wash your hands.
Brandon