1、2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|12 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|2About the ReportMethodologyOnline survey1350+respondentsUS row-and speciality-crop farmersQuestion CategoriesDemographicsTechnologyGrain MarketingPa

2、ymentsSustainabilityConcerns&PrioritiesAlthough 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 material in this re

3、port.2023 Bushel Inc.2022 Bushel Inc.3STATE OF THE FARM REPORT 2022ABOUT BUSHEL Hey,Were BushelBushels MissionPower of Bushels NetworkDEMOGRAPHICSLocationRelationship to FarmingDecision MakingAgeRespondent Age TrendAcreageTECHNOLOGYSoftware ImportanceWillingness to Adopt TechnologySoftware UsageSoft

4、ware Help NeededGRAIN MARKETINGMarketing Results SatisfactionCost of Production UnderstandingMobile-enabled Grain SalesPAYMENTSPrimary Payment for GrainPrimary Payment for Ag RetailDigital Payment AdoptionPayment TrendsSUSTAINABILITY Sustainability PracticesCarbon/Sustainability Program Participatio

5、nBarriers to ParticipationProgram Knowledge SeekingTable of ContentsCONCERNS&PRIORITIESFarm ConcernsFarm PrioritiesCUSTOMER STORIESLuckey FarmersRoggen Farmers Elevator AssociationBig River ResourcesFS GrainAGRIservices of BrunswickThe Arthur CompaniesQuentin Connealy,Farmer2 0 2 3 S T A T E O F T H

6、 E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|33943222733 49162 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|4About Bushel2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|5Hey,were Bushel.Founded in 2011 and headquartered in Fargo,NDIndepende

7、ntly owned and operated technology company with 180+employeesLeading provider of software technology solutions for producers,grain buyers,ag retailers,protein producers,and food companiesGet in Touch2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|6Agricultures physical inf

8、rastructure-the network of highways,rivers,rail,on-farm grain storage,commercial grain handling and processing facilities-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

9、move data,transactions,and money.Bushel is building the necessary digital infrastructure for the next era of agriculture value chain productivity.To connect the agriculture industry through digital infrastructure.Bushels Mission2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N

10、C.|62 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|7Bushel reaches every facet of agriculture: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 inform

11、ation and digitize your business with your growers Digitize your offer&hedge managementAutomatically reconcile your scale tickets and contractsThe Power of the Bushel Network Confidential Materials|2023 Bushel Inc.8The Power of the Bushel Network45%+of U.S.Grain Origination on Bushels Network2 0 2 3

12、 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|9Demographics2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|10LocationState#of RespondentsState#of RespondentsTexas154Pennsylvania14Kansas95Montana14Illinois70Alabama13Iowa66Colorado12Indiana54South Carol

13、ina9Ohio52Virginia7Nebraska48Washington7Minnesota39Idaho6Michigan37Wyoming5Missouri35New Jersey4Arkansas32New Mexico4Kentucky31New York3Oklahoma29Maine2North Carolina27Maryland2Outside of US24Oregon2Wisconsin22Florida2Georgia20California2Tennessee20West Virginia1South Dakota20Arizona1Mississippi18Ne

14、vada1North Dakota18Utah1Louisiana15Vermont166%from the Midwest or Southern PlainsThis aligns with USDA data showing Texas,Missouri,and Iowa as the top three states in regard to number of farmsThe white star denotes State with highest number of respondents in the RegionLocation of Survey Respondents2

15、 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|11Relationship to FarmingMore than 54%full-time farm owner/operators“Other”included descriptions like“crop consultant”,“agronomist”,and“farm manager”What is your primary relationship to farming?2 0 2 3 S T A T E O F T H E F A

16、R M R E P O R T 2 0 2 3 B U S H E L I N C.|12Decision MakingMore than 86%primary financial decision-makersAre you the primary financial decision maker for your farm?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|13Age52%over 61+20%over 50Respondent Age Ranges2 0 2 3 S T A

17、 T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|14Respondent Age TrendThe percentage of respondents age 61+is increasing substantially each year.Over 60 age group growingRespondent Age Change Over Time2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|15AcreageB

18、ushels survey respondents operate larger farms than average50%of respondents farm more than 500 acres vs.USDA 2017 Census of Agriculture reported that 15%of farms were more than 500 acres2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|16Technology2 0 2 3 S T A T E O F T H

19、E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|17Farmers Think Software is Important to the Future RegionAbsolutely essential Very important Of average importance Of little importance Not important at all NNortheast 0%69%27%4%0%26Southeast 9%46%34%7%5%44Midsouth 17%46%28%4%5%106Midwest 21%48%27%2%

20、3%291Southern Plains 13%43%32%6%5%283Northern Plains 16%53%24%6%1%83Northwest 9%64%18%9%0%11Southwest 25%75%0%0%0%4Outside of US35%50%15%0%0%20Total Responses30868Overall%16%48%28%5%4%Age Absolutely essential Very important Of average importance Of little importance Not important at all N

21、18-30 33%44%14%6%3%3631-40 30%46%20%4%1%12341-50 18%51%20%8%3%14851-60 10%52%28%5%5%24161-70 15%41%35%5%4%37171-80 14%49%27%5%6%163Over 80 15%44%33%4%4%27Total Responses441109Overall%17%47%28%5%4%90%believe software technologies are of average importance or higherFarm Management SoftwareT

22、he only FMS to offer automated grain contract entry for farmersLearn MoreHow important is desktop and mobile software for the future of row crop farming?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|18Willingness to Adopt New Technology Age I am willing to experiment wit

23、h new technologies.I want to see others have successfully use a technology before I start using it.I am cautious about experimenting with new technologies I wont use a new technology until convinced it will solve the problem.Im only interested in new technologies when my pain becomes so unbearable t

24、hat the status quo is no longer an option.N18-30 64%22%8%6%0%3631-40 69%18%8%5%0%12241-50 49%22%17%11%1%14651-60 45%21%14%16%4%22861-70 37%20%21%18%3%35371-80 31%29%18%18%4%147Over 80 40%16%24%16%4%25Total Responses4672267Overall%44%21%17%15%3%44%willing to experimentWhat best describes y

25、our willingness to adopt new technology?Simple,engaging,and well-lovedChoose Bushel for your digital engagement partner at your agribusinessLearn More2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|19Farmers are Using Software Region012345678 or moreNNortheast 25%25%25%4%1

26、7%4%0%0%0%24Southeast 26%30%21%9%11%4%0%0%0%47Midsouth 15%25%33%8%11%4%3%0%1%107Midwest 16%17%30%17%12%5%2%1%1%297Southern Plains 25%23%16%15%11%5%2%1%4%297Northern Plains 12%28%21%13%10%3%4%1%8%91Northwest 21%14%21%29%0%7%0%0%7%14Southwest 0%25%0%75%0%0%0%0%0%4Outside of US15%10%25%10%10%20%5%0%5%2

27、0Total Responses8994319624901Overall%19%22%24%14%11%5%2%1%3%Age012345678 or moreN18-30 13%13%24%16%18%8%3%3%3%3831-40 6%16%18%16%17%10%6%2%10%12641-50 12%20%23%16%12%9%4%0%4%14751-60 19%25%24%13%9%4%3%0%3%24461-70 25%20%24%14%12%3%1%1%2%39171-80 24%27%21%10%13%3%2%0%0%167Over 80 28%9%34%2

28、2%6%0%0%0%0%32Total Responses223654296341145Overall%19%21%23%14%12%5%3%1%3%44%use 1-2 software programs for farm business24%use 4 or more software programsOnly 19%use no software programs at allHow many different software programs do you use for your farm business?2 0 2 3 S T A T E O F T

29、H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|20Many of Those Not Using Software,Need/Want Help 40%of those not using software said the primary reasons were:Unclear benefitsUncertainty about how to use it“Other”reasons for not using farm software included small farm size and preferences for spr

30、eadsheets or pen and paperWhat is the primary reason you are not using farm software?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|21Large majority says technology is important to the future Nearly half are willing to experiment with new techNearly half use 1 to 2 softwa

31、re programs for their farm business Less than 20%use no software at all40%of those who dont use software say reasons are:Unclear benefits Uncertainty about how to use itTechnology Recap2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|22Grain Marketing2 0 2 3 S T A T E O F T

32、 H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|23Large Number of Farmers are Satisfied With Their Marketing Results53%are satisfied42%are neutralHow satisfied are you with your grain marketing results?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|24Farmers Who are M

33、ost Satisfied with Their Marketing Results,Know and Use Their Cost of ProductionSatisfaction with Marketing ResultsI have a very good understanding of my cost of productionI use my cost of production to set the price where I will begin pricing my crop.Very Satisfied95%71%Satisfied92%74%Neutral82%62%

34、Dissatisfied80%50%Very Dissatisfied83%67%2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|25GRAIN BUYERSGet Real-time Management of Hedges,Offers,and Cash BidsMobile App Offers&Grain Sales31%likely to try new technologies to submit offersFun Fact:An average of 41%of all off

35、ers received by Bushel grain buying customers with“Make Offer”enabled are submitted via their appLearn MoreHow likely are you to use an app or website to submit a firm offer and/or sell grain?In last years 2022 report:“Do you want to sell your crops through an app?”YES=25%NO=75%2 0 2 3 S T A T E O F

36、 T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|26Grain Marketing RecapMore than 50%of farmers surveyed are“satisfied”about their grain marketing resultsFarmers who know and use their cost of production are more satisfied marketers than those who dont 31%say they are likely to use an app or we

37、bsite to submit firm offers or sell grain 31%are unsure as to whether they would use an app or website to submit firm offers or sell grain2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|27Payments2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|28

38、Checks Are the Primary Form of Payment for Grain82%of farmers say their grain payments are made with checksHow do you get paid for your grain?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|29Checks Most Prominent Payment Form for Inputs83%of farmers say they pay for input

39、s with checksHow do you pay for crop inputs?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|30FOR YOUR AGRIBUSINESSBuild Trust,One Digital Transaction at a TimeGo DigitalOff the Farm,Farmers are Using Digital Payments39%of farmers using digital paymentsHave you used a digi

40、tal payment processor to send or receive money?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|31Tired of Paper Checks?Mitigate FraudChecks for B2B Payments DecliningCheck payments declined by nearly 50%between 2004 and 2023FOR GRAIN BUYERS AND AG RETAILERSPay and get paid

41、 faster,offer convenience,and mitigate fraud with Bushel PaymentsB2B payments in the US&Canada made by check2022 American Finance Professionals Digital Payments Survey2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|32Checks are still dominant form of payment to and from fa

42、rmers for grain and inputs39%of farmers have used a digital payment platformAFP reports B2B payments made by check are down nearly 50%since 2004Payments Recap2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|33Sustainability2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0

43、 2 3 B U S H E L I N C.|34Farmers are Using Sustainable PracticesNo tillReduced tillCover cropsNutrient managementWater management/stewardshipNone of theseNNortheast68%39%77%42%26%3%31Southeast45%43%59%47%36%8%53Midsouth54%51%45%42%44%8%119Midwest66%59%43%43%24%8%319Southern Plains51%44%36%30%30%16%

44、314Northern Plains54%39%25%44%30%15%92Northwest20%26%9%23%17%6%35Southwest0%20%20%20%30%10%10Outside of United States59%50%41%55%32%9%22Total Responses549478394380294108995Overall%57%49%41%39%30%11%Over half of respondents are practicing No TillFarmers practices align with practices desired for part

45、icipation in carbon sustainability programsWhich of the following farming practices do you use?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|35Despite Using Sustainable Practices,Few Farmers are Participating in Carbon/Sustainability Programs AgeYesNoN18-30 21%79%3831-40

46、 17%83%12841-50 9%91%15451-60 9%91%25861-70 8%92%39271-80 9%91%176Over 80 3%97%31Total ResponsesOverall%10%90%Only 10%of respondents said they are participating in carbon or sustainability programsDo you participate in any carbon or sustainability programs?2 0 2 3 S T A T E O F T H E F A

47、R M R E P O R T 2 0 2 3 B U S H E L I N C.|36Farmers Report Lack of Information is Primary Reason for Not Participating in Sustainability/Carbon Program AgeYesNoN18-30 21%79%3831-40 17%83%12841-50 9%91%15451-60 9%91%25861-70 8%92%39271-80 9%91%176Over 80 3%97%31Total ResponsesOverall%10%9

48、0%60%of farmers say they need more information in order to participate in a sustainability or carbon programWhat stands between you and your participation in a sustainability or carbon program?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|37Online Research is Primary Inf

49、ormation Resource for Farmers Looking into Sustainability ProgramsAge Online research Peers Agronomist Ag input dealer None Crop insurance agent OthersGrain buyer N18-30 57%41%45%21%14%24%2%7%4231-40 49%49%45%26%12%19%6%9%13041-50 53%43%41%23%12%11%11%10%16051-60 44%41%32%25%17%13%10%5%25961-70 46%3

50、1%29%26%16%14%8%4%40771-80 39%27%32%26%20%10%11%5%187Over 80 46%30%39%36%15%24%12%6%33Total Responses5634434109701218Overall%46%36%34%26%16%14%9%6%Peers and agronomists are the other primary providers of information on sustainability programsOnly 16%of respondents have not sought informat

51、ion about participating in sustainability programsWhere do you get information about opportunities to participate in sustainability programs?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|38Over half of respondents are practicing No TillOnly 10%say they are participating

52、in a sustainability or carbon program60%of respondents say they need more information to participate in a sustainability or carbon programOnline research is primary source of information for farmers looking into sustainability or carbon programsSustainability Recap2 0 2 3 S T A T E O F T H E F A R M

53、 R E P O R T 2 0 2 3 B U S H E L I N C.|39Concerns&Priorities2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|40Farm ConcernsMost respondents are very concerned with pricing at every level,inflation,and regulatory activitiesIn regard to the potential impact on your farm,how

54、 concerned are you about the following?Percentage of Very Concerned2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|41Farm Priorities Increasing operational efficiencies continues to be the biggest priority;however,there is some interest(22%)in learning how to better use fa

55、rm management technologyHow would you prioritize the following?2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|42The top three concerns mentioned were:Price of InputsInflationPrice of EquipmentThe top three priorities mentioned were:Increasing profitabilityTracking/improvi

56、ng individual field performanceImproving marketing strategyConcerns&Priorities Recap2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|43Customer Stories2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|44“The reason we chose Bushel for our digital pl

57、atform was for better communication with our grower members.Were utilizing the Bushel software to help manage growers data.As our members figure out how easy and simple the software is,the more adoption we get.”-ANDREW GLADDEN,LUCKEY FARMERSLuckey Farmers Partners with Bushel to Streamline Contracts

58、,Ticketing,Settlements,and Beyond“My favorite part about working with the Bushel team is their customer service.”Hear More 2 0 2 3 B U S H E L I N C.|44Bushel Products Used Bushel Mobile Bushel Trade Bushel Website2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|45Revolutio

59、nizing AgTech:Roggen Farmers Elevator Chooses Bushel for Real-Time Ticket Visibility and Contract AccessibilityHear More“Bushel has put us at the forefront of relevancy in the tech advancements of ag.”“Bushel has put us at the forefront of relevancy in the tech advancements of ag.I would highly reco

60、mmend what Bushel provides to you.Bushel has a good start and a willingness to make a product that is tailored to what this industry needs.”-MIKE URBANOWICZ AND COREY HODGE,ROGGEN FARMERS ELEVATOR ASSOCIATION 2 0 2 3 B U S H E L I N C.|45Bushel Products Used Bushel Mobile Bushel Trade Bushel Website

61、2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|46Transforming Grain Trade:Big River Resources Success with Bushel TechnologyHear More“Bushel was the most simple and effective way to offer a hands on experience for our growers.”“If youre looking at placing efficiencies on

62、your employee/staff side and efficiencies with your growers at their fingertips,its definitely the right choice to go with Bushel.”-ALLIE HAGBERG,BIG RIVER RESOURCES 2 0 2 3 B U S H E L I N C.|46Bushel Products Used Bushel Mobile Bushel Trade Bushel Website2 0 2 3 S T A T E O F T H E F A R M R E P O

63、 R T 2 0 2 3 B U S H E L I N C.|47Enhancing Grain Management and Communication with Farmers:Agriland FS Partners with BushelHear More“Weve seen a wonderful return on our investment with Bushel.”“Weve seen a wonderful return on our investment here.The producers love it.We love it as a company.I truly

64、 believe Bushel is one of the industry leaders,if not THE industry leader.I would highly recommend Bushel to anybody.”-FLETCHER SUNDERMAN,FS GRAIN 2 0 2 3 B U S H E L I N C.|47Bushel Products Used Bushel Mobile Bushel Trade 2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|4

65、8AGRIServices of Brunswick Thrives with Bushels Innovative Payment SolutionsHere More“I recommend other companies work with Bushel.I just love whats going on with them.”“We came onto Bushel Payments in 2022,and I think its going to be very good,especially with incoming payments from the retail side.

66、I do recommend other companies work with Bushel.I just love whats going on with them.”-MIKE HAINLINE,AGRISERVICES OF BRUNSWICK 2 0 2 3 B U S H E L I N C.|48Bushel Products Used Bushel Mobile Bushel Wallet 2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|49Transforming Grain

67、 Elevators:The Arthur Companies and Bushels Forward-Thinking PartnershipHear More“Bushel shares the same vision that we have of digitizing our processes.”“Bushel shares the same vision that we have of digitizing our processes and getting rid of the paperwork we have.If youre on the fence,dont hesita

68、te.We highly,highly recommend Bushel.Were excited to continue our partnership.”-JOHN MELLAND AND JEREMY TENBROEK,THE ARTHUR COMPANIES 2 0 2 3 B U S H E L I N C.|49Bushel Products Used Bushel Mobile Bushel Trade Bushel Wallet2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|5

69、0Tech-Driven Farming:Empowering Farmers with BushelHear More“These platforms create a transparency between us and our farm.”“Its a team effort.If we can get all these grain companies on board to work together with Bushel,its a big deal for the farmer.These platforms create a transparency between us

70、and our farm to our inputs,to our finances.Our banker likes to see it and our marketing team likes to see it.Even my wife likes to see it because she likes to know were making money.”-QUENTIN CONNEALY,CONNEALY FARMS,NEBRASKA 2 0 2 3 B U S H E L I N C.|50Bushel Products Used Bushel Mobile(via NORAGs

71、Bushel-powered app)Bushel Farm2 0 2 3 S T A T E O F T H E F A R M R E P O R T 2 0 2 3 B U S H E L I N C.|Thank YDigitization 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 lines 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 100,000+farmers and hundreds of agribusinesses at .Get In Touch