1、2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|1 2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|2 About the 2024 ReportMETHODOLOGYOnline survey Data collected December 2023871 respondentsRespondents didnt answer every question,so responses vary

2、 by question.U.S.row-crop and specialty-crop farmersAlthough efforts have been made to provide complete and accurate information,Bushel does not guarantee,and accepts no legal liability,for the accuracy,reliability,currency,or completeness of any material in this report.You should not rely on materi

3、al in this report.2024 Bushel Inc.KEY QUESTIONSDemographicsFarming practices utilized and business impactGrain marketing strategies and toolsTechnology usage and perceptions2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|3 ABOUT BUSHEL Hey,Were BushelBushels MissionPower o

4、f Bushels NetworkEXECUTIVE SUMMARYGeneral TakeawaysGrain MarketingUse of TechnologyPayments TrendsSustainability PerceptionsDoing Business with FarmersINTRODUCTIONLocation and RoleCrops FeaturedBy AgeRespondents vs.AcresFive-Year Growth PlansFUTURE OF THE FARMING OPERATIONKey Farming Practices Utili

5、zedFarming PracticesCarbon ProgramsTop ConcernsManagement OpportunitiesMARKETING DECISIONSTiming of Grain SalesMarketing PracticesStrategiesSelling Grain to Multiple CompaniesUSE OF TECHNOLOGYAdoption BarriersValue Creation OpportunitiesUsing Technology to Submit Offers or Sell GrainCommunication Ch

6、annelsTable of Contents2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|3253750 41017 2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|4 About Bushel2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|5 Hey,were Bushel.Leadin

7、g provider of software technology solutions for producers,grain buyers,ag retailers,protein producers,and food companiesBushels Network securely connects 45%+of U.S.Grain Origination and 2,600 Grain Buying locationsSOC 2 Type II Compliant;annual audits to ensure ongoing security complianceFounded in

8、 2011 and headquartered in Fargo,ND;independently owned and operatedGet in Touch2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|6 Agricultures physical infrastructure-the network of highways,rivers,rail,on-farm grain storage,commercial grain handling and processing facilit

9、ies-is the greatest advancement in the grain industry in the last century that resulted in a huge productivity increase.But there is no comparable digital infrastructure to securely move data,transactions,and money.Bushel is building the necessary digital infrastructure for the next era of agricultu

10、re value chain productivity.To connect the agriculture industry through digital infrastructure.Bushels Mission2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|62 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|7 Bushel reaches every facet of agricul

11、ture:from seed in the ground to cash in your bank.Secured digital payments between you and your growersManage your day-to-day farm operations with data-driven insightsShare key information and digitize your business with your growers Digitize your offer&hedge managementAutomatically reconcile your c

12、ommercial scale tickets and contractsThe Power of the Bushel Network2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|8 Secured digital payments between you and your growersManage your day-to-day farm operations with data-driven insightsShare key information and digitize you

13、r business with your growers Digitize your offer and hedge managementAutomatically reconcile your commercial scale tickets and contractsBushels Product SuiteClick on product logos to learn more.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|9 2 0 2 4 S T A T E O F T H E F

14、 A R M R E P O R T 2 0 2 4 B U S H E L I N C.|10 Executive Summary2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|11 General TakeawaysLarge farms(2,000-plus acres)can account for a disproportionately larger share of the market.Farmers under 40 years old and high-growth far

15、mers represent future customers and markets.There is aggressive adoption of technology by younger and growing farmers.Price of equipment,profitability,and inflation are the top three concerns reported by surveyed farmers.Increasing operational efficiencies,improving marketing strategy,and tracking/i

16、mproving field performance were the highest-rated management opportunities.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|12 Grain MarketingLarge and growing farms are more comfortable pricing production early.Large-scale farms are more likely to follow advisors recommend

17、ations and set price targets when profits are achievable.Farmers under 40 are still dependent on cash flow for making grain marketing decisions.35%of 2000-acre farm respondents are comfortable marketing 50%at or before planting,whereas only 25%of smaller-sized farm respondents feel the same.Overall,

18、these larger and growing farms use a balanced approach when it comes to marketing grain.While spot cash sale was the most prevalent strategy,nearly all grain marketing strategies(11 total were offered as a choice)are used by at least 20%of respondents.Among respondents under the age of 60,65%leave o

19、pen orders(offers)with grain buyers,contrasted with only 45%of respondents older than 60.The most influential grain marketing resource by far is local grain buyers with 38%of respondents saying they rely on that resource the most.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I

20、N C.|13 Use of TechnologyWeather,accounting,and financial record-keeping are the highest-ranked activities for which farmers use a farm-related app or software.Farmers under 40 view softwares value beyond just convenience-with an even split between helping them manage costs and increasing revenue.33

21、%of respondents are willing to submit grain offers/sell grain to grain buyers through an app or website.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|14 Payments TrendsFor the second year in a row,Bushels State of the Farm survey asked about payment trends.This years rep

22、ort shows a 12%decrease in paper check payments to farmers,with increases in payments via ACH and digital wallets.Still,more than 70%of grain settlements are being paid by paper check.The USPS continues to warn against mailing paper checks due to increased fraud.The report shows a steady rise in the

23、 use of digital payment processors over the last year;last year 61%of respondents selected none of the above when asked if they use various popular digital payment platforms.This years showed 24%.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|15 Sustainability Perceptions

24、More farmers said they participated in carbon programs than in the previous year.The 2024 report shows a nearly 10%increase from last years survey responses asking about carbon program participation.Younger farmers are much more likely to participate in these types of programs:50%of the 18-40 age gr

25、oup reported participating in some kind of payment-based carbon program.Nutrient management is the most widely adopted practice by farms(57%)and more than 50%of larger farms report using no-till on some or all of their fields.Cover crops are more popular with younger farmers with a little over 40%of

26、 farmers ages 18-40 reporting that they use cover crops as a farming practice.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|16 Doing Business with FarmersIf bids and hauling distance are similar among competing grain buyers,farmers under 40 said fastest payments and mark

27、eting programs are the primary reasons they would sell to one grain company over another.Farmers under 40 are showing less emphasis on relationships with staff with only 12%responding as a key factor in selling to a grain company,compared to 21%overall.When communicating with grain buyers,farmers pr

28、efer text messages.Telephone and websites have the largest gap between actual and preferred communication channels(-11 percentage points).The challenge-or opportunity-for agribusinesses is to understand which concerns they can help farmers manage.For example,while commodity prices and production cos

29、ts are largely out of a farmers control(see page 32),knowing when the market is offering a profit and having tools to swiftly execute on profit-generating scenarios are potential key opportunities.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|17 Introduction2 0 2 4 S T A

30、 T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|18 Respondents Location and RoleLocation of RespondentQ:What is your primary relationship to farming?2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|19 Crops Featured2 0 2 4 S T A T E O F T H E F A R M R E P O R

31、 T 2 0 2 4 B U S H E L I N C.|20 By AgeRespondents were classified into four different age divisions.18-40 yo24%41-60 yo32%61-70 yo28%70+yo16%While the segments are similarly sized,the age ranges vary.44%:Older than 61 years.56%:60 years or younger.Survey Respondents(By age)2 0 2 4 S T A T E O F T H

32、 E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|21 Respondents vs.AcresThe largest producers(2,000 acres)represented 27%of respondents,but 76%of acres.It is important to consider these size segments when creating,testing,and launching offerings.2022 Census of Ag:2,000 acres=4.3%of operations,61%of

33、 acresFarm Size(By respondents and surveyed acres)2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|22 Five-Year Farm Growth Plans39%have aggressive growth plans for their farm,broken into two different growth segments:19%plan to grow their farm by 10-25%.20%plan to grow the

34、ir farm by more than 25%46%plan to keep their farm about the same size over the next five years.15%plan to retire,exit,or reduce the size of their farm over the next five years.5-Year Farm Growth Plans2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|23 Five-Year Farm Growth

35、 PlansBoth younger and larger producers have aggressive growth plans.Those 18-40 represent a small portion of todays market,but will account for a large share of future business activity.5-Year Farm Growth Plans-%of Farms with Increased Growth Plans(By age and farm size)2 0 2 4 S T A T E O F T H E F

36、 A R M R E P O R T 2 0 2 4 B U S H E L I N C.|24 Introduction|RecapSurvey focused on commercial farm operations.By design,survey respondent farms are larger than USDA average.Each age segment has roughly the same share of total respondents,but the range of ages varies.44%are 61 years old.56%are 60 o

37、r younger.Respondents vs Acres:Not every respondent has the same market impact.Behaviors and trends of young and high-growth farms will impact the future marketplace.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|25 Future of the Farming Operation2 0 2 4 S T A T E O F T H

38、 E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|26 Key Farming Practices UtilizedNutrient management was the most widely adopted practice by farms.Reduced and no tillage also popular.Only 20%utilizing govt programs(EQUIP/CSP).Nutrient Management:Fertilizer recommendations based on annual soil test

39、s and yield goals.Water Management/Stewardship:Setbacks,buffer strips,precision irrigation,etc.Q:Which of the following practices do you use?2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|27 Farming Practices:Different Adoption RatesUse of Cover Crops(By age)Use of No Til

40、lage(By size)No-tillage adoption greater for larger operations,suggesting the practice scales.Cover crops are more popular among younger producers.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|28 Farming Practices:BenefitsQ:Rate the soil and farm profitability benefits.S

41、oil health benefits tended to score higher than farm profitability.Especially for cover crops and reduced tillage.Reduced Tillage rated highest for soil health benefits.Nutrient Management rated highest for profitability.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|29 2

42、 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|30 but young producers are much more likely to participate.Q:Do you participate in any payment-based carbon programs?Carbon Program Adoption is SlowTrending higher:Only 10%reported using a carbon program in 2023.Q:Do you parti

43、cipate in any payment-based carbon programs?(By age)2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|31 Moving the Needle on Carbon AdoptionQ:What are the barriers for Not Participating in a carbon program?Q:Where do you gather information about sustainability programs?Unce

44、rtainty and lack of information were key barriers for more than one-third of those not participating in a carbon program.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|32 Top ConcernsTop Concerns by Age Category:18-40:Profitability Price of equipmentInflation41-60:Profita

45、bility Price of equipmentPrice of inputs61-70:Price of equipmentInflationGovt policy®ulationsOlder than 70:Price of grainWeatherPrice of equipmentQ:How concerned are you about the following?(%rating very concerning)2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|33 Mana

46、gement Opportunities:Top PriorityOperational efficiencies,marketing strategies,and field performance were the highest rated management opportunities.None of the opportunities were overwhelmingly rated as a top priority.Carbon and regenerative ag efforts were among the lowest rated opportunities.Q:Ho

47、w would you rate the following management opportunities?(%rating top priority)Adopting Regenerative Ag Efforts:No-till,Cover crops,Crop diversity for soil healthCarbon Opportunities:Pursuing carbon sequestration and carbon market opportunities2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B

48、 U S H E L I N C.|34 2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|35 Management Opportunities:Demographic DifferencesYoung producers(18-40):More emphasis on field-level performance.More emphasis on carbon and regenerative ag.Better use of farm management technology.Larg

49、e-scale producers(2,000 acres):High ratings on marketing strategies and operational efficiencies.Growing producers(25%larger growth plans):While still low(14%),twice as likely to rate carbon opportunities as a top priority.Adopting Regenerative Ag Efforts:No-till,Cover crops,Crop diversity for soil

50、healthCarbon Opportunities:Pursuing carbon sequestration and carbon market opportunitiesQ:How would you rate the following management opportunities?(%rating as top priority by select demographics)2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|36 Future of the Farming Oper

51、ation|RecapAdoption rate and perceived benefits of farming practices can vary widely.Younger producers are more likely to participate in carbon programs.Producer concern=agribusiness opportunity?Producer concerns about profitability and grain prices creates additional value for management and market

52、ing tools.Aligning opportunities.Operational efficiencies,marketing strategies,and tracking field-level performance are the highest rated opportunities.Technology-driven tools can help.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|37 Marketing Decisions2 0 2 4 S T A T E

53、O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|38 Timing of Grain SalesQ:When are you comfortable pricing 50%of anticipated production?Larger and Growing Farms More Comfortable Pricing Production EarlyRespondents comfortable marketing 50%at or before planting(select demographics)All respon

54、dents2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|39 Marketing PracticesSpot cash sales the most common(56%).When storing grain to price later,producers were more likely to store grain on farm(50%)than at the elevator(28%).Hedging via futures(26%)and options(13%)have lo

55、w utilization.Q:Which grain marketing practices do you use?Managed pricing:Elevator pricing program,i.e.,moving average2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|40 Larger operations are more likely to use almost every practice.Q:Do you lock in the carry(spread)for st

56、ored grain?Usage of some marketing practices varies by segmentQ:Which grain marketing practices do you use?(By size)2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|41 A strategy that most would like to avoid-pricing when cash flow is needed-is more likely to be used by you

57、ng producers becauseyoung producers are more likely to be impacted by cash flow needs.Q:Grain marketing strategies that you rely on:“Price when I need cash flow.”(By age)Strategies2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|42 StrategiesQ:Grain marketing strategies tha

58、t you rely on:High-growth producers more likely to:Price multiple crop years Price when profits are achievable Large-scale producers more likely to:Follow advisors recommendationPrice when profits are achievable2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|43 Leaving Off

59、ers with Grain BuyersQ:Do you leave open grain orders with buyers?Producers or Acres?Large-scale producers more likely to leave open grain offers with buyers,potentially skewing the actual popularity of the strategy.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|44 Young&

60、Growing Farms More Likely to Leave Open Grain Orders(Offers)Q:Do you leave open grain orders with buyers?(Yes Responses;By age)Q:Do you leave open grain orders with buyers?(Yes Responses;By growth)2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|45 Selling Grain to Multiple

61、 Companies44%of respondents sold grain to more than three different companies.However,those 44%accounted for large share of market acres(65%).Activity varied by age,farm growth plans,and farm size.Q:How many grain companies do you sell to?3 or more.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0

62、 2 4 B U S H E L I N C.|46 2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|47 After price&hauling,no dominant competitive strategyYoung producers:More emphasis on fast payment and programs.Trade-off:Less emphasis on relationships(12%for 18-40yo).Fast payments&marketing pro

63、grams selected as primary reason for selling to a grain company.(By age)Q:After bids and distance,primary reason for selling to a grain company?2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|48 Local buyers dominate as marketing resourceOnly 13%of respondents selected “ma

64、rketing advisor”as the most relied upon resource.However,marketing advisors accounted for 24%of surveyed acres.Q:Which grain market resources do you rely on the most?2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|49 Marketing Decisions RecapAfter bids and hauling are acco

65、unted for,no dominant competitive strategy.Grain buyers must be competent on many fronts.Some competitive strategies are especially important for key demographics.Young producers:More emphasis on timely payments&marketing programs.Local grain buyer=dominant grain market resource.Some will leverage t

66、his to create additional value and loyalty.Young,high-growth,and large-scale producers have more aggressive marketing plans.Example:Pricing grain earlier in season,using marketing services,leaving open orders/offers,selling to several buyers.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B

67、U S H E L I N C.|50 Use of Technology2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|51 Not All Apps/Software Are EqualQ:I use an app or software for the following activities2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|52 Adoption Barriers:Too

68、 Costly and Unclear BenefitsLarge-scale farms:More emphasis on unclear benefits&privacy concerns.Small-scale farms:Cost and usability a more significant concern.Q:Common reason for not adopting a potential farm management app or software?Q:Common reason for not adopting a potential farm management a

69、pp or software?(By size)2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|53 Q:Common reason for not adopting a potential farm management app or software?(By age)“Too costly”a greater barrier for young producersAn opportunity for agribusinesses to create value and loyalty am

70、ong a key demographic?2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|54 Convenience is the largest value creation for farm apps&software.But stated differently,it could be hard to find value if the technology makes life more difficult.Convenience:Easier/faster to accompli

71、sh tasks or manage the business.Increasing revenue:Higher yields,better marketing,etc.Managing costs:Measuring,cost reduction,etc.Q:How have apps/software created value for your farm?Value Creation Opportunities2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|55 2 0 2 4 S T

72、 A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|56 Convenience:Magnitude of convenience varies but remains dominant when looking at younger and non-growing farmsQ:How have apps/software created value for your farm?Age:18-405-Year Growth Plans:Small,Exit,RetirementConvenience:Easier/f

73、aster to accomplish tasks or manage the business.Increasing revenue:Higher yields,better marketing,etc.Managing costs:Measuring,cost reduction,etc.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|57 Using Technology to Submit Offers or Sell Grain33%were“likely”or“very likel

74、y”to submit a grain offer or sell grain through an app or website.Likelihood approaches 50%of younger and high-growth producers.Q:Respondents likely or very likely to use an app/website to submit offers or sell grain?Q:Respondents likely or very likely to use an app/website to submit offers or sell

75、grain?(By age)(By growth)2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|58 Reason for using an App/Website to Submit Offers or Sell GrainAdvantage of using an app/website to submit offer or sell grain.(Those likely to use.)Barrier of using an app/website to submit offer o

76、r sell grain.(Those not likely to use.)One producers frustration,is another producers solution.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|59 Communication ChannelsQ:How do you receive information from grain buyers?Producers prefer more text message updates than they a

77、re receiving.Phone and websites have the largest gap between actual and preferred(-11 percentage points).Remember:Young producers earlier stated a preference for timely payments&marketing programs,trading-off relationship with staff.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L

78、 I N C.|60 2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|61 Communication ChannelsText messages very popular among large producers.Q:How do you prefer to receive information from grain buyers?Q:How do you prefer to receive information from grain buyers?(Select methods;By

79、 age)Text and Apps have strong preference among young producers.Older producers have stronger preference for websites.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|62 70%receive payments via check.40%receive payments via ACH.Is anyone satisfied?Preferences vary:18-40 yea

80、r olds:20%prefer digital wallet payments.61 or older:Majority prefer paper check.ACH stuck in the middle?Q:How do you receive grain payments?How do you prefer grain payments?(By age)Grain Payments2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|63 Use of Technology RecapAgg

81、ressive usage of technology by young and growing farms.Cost and unclear benefits are frequent barriers for not adopting technology.Cost is an issue for younger producers.Can alternative business models help producers access resources(i.e.tools provided by grain buyers)?Convenience dominates.Lesson:T

82、echnologies that make our lives easier are always popular.The future of the marketplace:50%of young and high-growth respondents“likely”or“very likely”to submit offers or sell grain via app/website.Selling grain via App/Software vs Phone:Ones barrier is anothers advantage.2 0 2 4 S T A T E O F T H E

83、F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|64 Insights from Bushel TrendsIn 2023,producers were actively submitting grain offers in June,July,November,and December.47%of all offers occurred in those four months.“Busy seasons”can make grain buyers lives hectic.Seasonality of Mobile-submitted Grai

84、n Offers via Bushel,20232 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|65 Insights from Bushel TrendsIn 2023,the average size of mobile offers submitted via Bushel was 18%larger than in 2022.Technology allows more grain to be sold in a new way.In 2023,57%of all mobile off

85、ers submitted via Bushel were filled.Comparison:Only 43%of non-mobile*offers filled.*Non-mobile=traditional offer submission methods,including telephone and text messaging.+18%57%2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|66 Key FindingsThree key demographics emerge:Y

86、oung producersHigh-growth producersLarge acreage producersThese demographics are important because:Number of respondents versus the acres represented.Young and high-growth farms represent future customers and market.Technology adoption:Aggressive adoption by young and growing farms.How can agribusin

87、esses and grain buyers respond?Deliver technology-powered solutions that align with the preference,needs,concerns,and opportunities of key segments.Opportunities to create long-term value for customers.2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|67 2 0 2 4 S T A T E O

88、F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|68 2 0 2 4 S T A T E O F T H E F A R M R E P O R T 2 0 2 4 B U S H E L I N C.|69 | Thank YouDigitization in agriculture might be inevitable,but it has to matter.Bushel provides farmers and agribusinesses digital tools and experiences that matter to your operations bottom line and your hard-earned relationships.Thanks for reading,and thank you to all the farmers who took our survey to help create this report.You can learn more about how Bushel impacts farmers and agribusinesses at .Get In Touch