1 00:00:00,030 --> 00:00:02,309 They're safer. 2 00:00:02,310 --> 00:00:04,569 Just imagine, 3 00:00:04,570 --> 00:00:06,629 do you think about what's next in 4 00:00:06,630 --> 00:00:09,929 terms of technological investments? 5 00:00:09,930 --> 00:00:12,049 AI farmers, we don't need humans 6 00:00:12,050 --> 00:00:13,509 anymore, sort of. 7 00:00:16,940 --> 00:00:18,559 Amazing what they do already. 8 00:00:20,130 --> 00:00:22,649 I was in 9 00:00:22,650 --> 00:00:24,689 a meeting, this was 20 10 00:00:24,690 --> 00:00:26,549 years ago, and they're like, what 11 00:00:26,550 --> 00:00:28,069 do you see coming in 10 years? 12 00:00:28,070 --> 00:00:30,009 I'm like, I'm 13 00:00:30,010 --> 00:00:31,369 not understanding what's here now. 14 00:00:31,370 --> 00:00:32,548 I don't know in 10 year, and that 15 00:00:32,549 --> 00:00:33,750 was 20 year ago. 16 00:00:34,870 --> 00:00:37,589 Like I said, it's what these 17 00:00:37,590 --> 00:00:39,569 pieces of equipment can do, it just 18 00:00:39,570 --> 00:00:41,969 line by. I don't even drive the 19 00:00:41,970 --> 00:00:43,409 tractors anymore because it's too 20 00:00:43,410 --> 00:00:44,499 computerized for me. 21 00:00:44,500 --> 00:00:45,500 Yeah. 22 00:00:46,340 --> 00:00:47,719 I'm sure your brothers are thankful 23 00:00:47,720 --> 00:00:49,099 for that too. 24 00:00:49,100 --> 00:00:50,159 Yes, my nephews are. 25 00:00:51,820 --> 00:00:53,379 And I think we're good to roll. 26 00:00:53,380 --> 00:00:54,959 OK. Senator, I don't know if you 27 00:00:54,960 --> 00:00:55,799 want to open it up. 28 00:00:55,800 --> 00:00:56,800 I do. 29 00:00:59,110 --> 00:01:00,929 Yeah, so Doug, thank 30 00:01:00,930 --> 00:01:03,249 you so much for hosting us at your 31 00:01:03,250 --> 00:01:05,128 farm and your leadership 32 00:01:05,129 --> 00:01:06,769 with the Soybean Association. 33 00:01:06,770 --> 00:01:08,609 That is outstanding 34 00:01:08,610 --> 00:01:10,449 and very pertinent to 35 00:01:10,450 --> 00:01:11,449 our discussion today. 36 00:01:11,450 --> 00:01:13,389 And I want to thank both Matt and 37 00:01:13,390 --> 00:01:15,469 Casey for being here today also. 38 00:01:17,730 --> 00:01:19,849 And just looking out 39 00:01:19,850 --> 00:01:21,729 at this beautiful farm, I just think 40 00:01:21,730 --> 00:01:23,729 about how much of 41 00:01:23,730 --> 00:01:25,939 a that agriculture 42 00:01:25,940 --> 00:01:27,039 is sort of the backbone in 43 00:01:27,040 --> 00:01:28,559 Wisconsin. 44 00:01:28,560 --> 00:01:30,439 And farmers that I know work 45 00:01:30,440 --> 00:01:32,180 harder than anyone else I know, 46 00:01:33,900 --> 00:01:35,939 and with great benefit 47 00:01:35,940 --> 00:01:37,899 to our state and our nation, 48 00:01:37,900 --> 00:01:39,819 and frankly with soybeans the whole 49 00:01:39,820 --> 00:01:40,820 world. 50 00:01:41,260 --> 00:01:43,779 And I know that farmers during 51 00:01:43,780 --> 00:01:45,699 tough times want markets and 52 00:01:45,700 --> 00:01:47,659 opportunities, not handouts from 53 00:01:47,660 --> 00:01:49,159 the government. 54 00:01:49,160 --> 00:01:51,399 So I want to acknowledge 55 00:01:51,400 --> 00:01:53,379 the headwinds that farmers have 56 00:01:53,380 --> 00:01:54,609 faced. 57 00:01:54,610 --> 00:01:57,289 Sort of historically, but also 58 00:01:57,290 --> 00:01:58,709 currently. 59 00:01:58,710 --> 00:02:00,629 You know, natural disasters and 60 00:02:00,630 --> 00:02:02,789 mother nature sort of, 61 00:02:02,790 --> 00:02:04,769 you know, there's no one to 62 00:02:04,770 --> 00:02:06,769 blame, but that's something that 63 00:02:06,770 --> 00:02:08,269 you have to deal with. 64 00:02:08,270 --> 00:02:10,089 Volatile markets, that happens 65 00:02:10,090 --> 00:02:12,289 with ups and downs routinely, 66 00:02:13,290 --> 00:02:15,129 and low commodity prices 67 00:02:15,130 --> 00:02:17,549 can be a 68 00:02:17,550 --> 00:02:19,929 real strain on our farmers. 69 00:02:19,930 --> 00:02:22,369 But there's some recent actions 70 00:02:22,370 --> 00:02:24,639 that also 71 00:02:24,640 --> 00:02:27,459 have impacted our 72 00:02:27,460 --> 00:02:29,839 soy economy as well as 73 00:02:29,840 --> 00:02:32,099 other other crops. 74 00:02:32,100 --> 00:02:33,899 The trade war. 75 00:02:33,900 --> 00:02:36,079 I think about how when 76 00:02:36,080 --> 00:02:37,819 President Trump announced that there 77 00:02:37,820 --> 00:02:40,059 would be tariffs a 78 00:02:40,060 --> 00:02:41,339 lot of our trading partners 79 00:02:41,340 --> 00:02:43,099 announced that they would be 80 00:02:43,100 --> 00:02:45,339 retaliatory tariffs and 81 00:02:45,340 --> 00:02:47,159 some of our trading partners said if 82 00:02:47,160 --> 00:02:48,979 you're going to put a 50 percent 83 00:02:48,980 --> 00:02:51,379 or whatever percent tariff on 84 00:02:51,380 --> 00:02:52,439 certain products. 85 00:02:52,440 --> 00:02:54,719 We're gonna find other countries to 86 00:02:54,720 --> 00:02:56,479 make deals with and buy from. 87 00:02:58,140 --> 00:03:00,419 And so that created a 88 00:03:00,420 --> 00:03:02,699 huge impact for 89 00:03:02,700 --> 00:03:04,539 our soy farmers. 90 00:03:04,540 --> 00:03:07,299 There were also, last summer, 91 00:03:07,300 --> 00:03:08,659 there was a bill that President 92 00:03:08,660 --> 00:03:10,579 Trump pushed that 93 00:03:10,580 --> 00:03:12,579 cut nutrition programs in 94 00:03:12,580 --> 00:03:14,439 this country, the largest 95 00:03:14,440 --> 00:03:16,989 ever cut to SNAP 96 00:03:16,990 --> 00:03:18,859 and other cuts we saw 97 00:03:18,860 --> 00:03:19,779 in USDA. 98 00:03:19,780 --> 00:03:20,939 The 99 00:03:22,130 --> 00:03:23,529 The cumulative effect of some of 100 00:03:23,530 --> 00:03:25,429 these created a 101 00:03:25,430 --> 00:03:27,529 $15 billion export loss 102 00:03:27,530 --> 00:03:29,589 to China since March of last 103 00:03:29,590 --> 00:03:31,609 year, and nearly half of that 104 00:03:31,610 --> 00:03:33,149 was soybeans. 105 00:03:33,150 --> 00:03:35,369 So really significant 106 00:03:35,370 --> 00:03:36,609 impact. 107 00:03:36,610 --> 00:03:38,669 And all of this is driving 108 00:03:38,670 --> 00:03:40,889 up cost, but also driving 109 00:03:40,890 --> 00:03:42,889 uncertainty, which is the 110 00:03:42,890 --> 00:03:45,049 enemy of farmers and 111 00:03:45,050 --> 00:03:47,169 businesses across the board. 112 00:03:47,170 --> 00:03:48,969 For planning purposes, you need 113 00:03:48,970 --> 00:03:50,849 certainty. And I 114 00:03:50,850 --> 00:03:52,479 had one. 115 00:03:52,480 --> 00:03:54,839 One person say, you know, 116 00:03:54,840 --> 00:03:56,839 the uncertainty is like a tariff in 117 00:03:56,840 --> 00:03:59,559 and of itself, you know. 118 00:03:59,560 --> 00:04:01,559 But now recently 119 00:04:01,560 --> 00:04:03,899 we've had a lot of major 120 00:04:03,900 --> 00:04:06,299 additional impacts. 121 00:04:06,300 --> 00:04:08,999 The war in Iran has 122 00:04:09,000 --> 00:04:10,979 caused the closing 123 00:04:10,980 --> 00:04:12,979 of the Strait of Hormuz through 124 00:04:12,980 --> 00:04:15,619 which about a third of all 125 00:04:15,620 --> 00:04:18,739 fertilizer inputs travel. 126 00:04:18,740 --> 00:04:20,679 And so farmers have 127 00:04:20,680 --> 00:04:22,589 seen an incredible 128 00:04:22,590 --> 00:04:24,409 spike in the cost 129 00:04:24,410 --> 00:04:26,389 of fertilizer and 130 00:04:26,390 --> 00:04:28,429 sometimes the availability of 131 00:04:28,430 --> 00:04:29,749 fertilizer has been in question. 132 00:04:29,750 --> 00:04:31,909 A recent survey said 133 00:04:31,910 --> 00:04:33,909 that 70 134 00:04:33,910 --> 00:04:36,019 percent of farmers... 135 00:04:36,020 --> 00:04:37,759 Right now cannot afford all the 136 00:04:37,760 --> 00:04:39,059 fertilizer they need for their 137 00:04:39,060 --> 00:04:41,159 operations or so are taking 138 00:04:41,160 --> 00:04:43,559 lots of additional steps to 139 00:04:43,560 --> 00:04:45,219 see what they can do without and 140 00:04:45,220 --> 00:04:47,159 where they can be more tactical 141 00:04:47,160 --> 00:04:50,379 and strategic in fertilizing 142 00:04:50,380 --> 00:04:51,920 in the planting season. 143 00:04:53,680 --> 00:04:55,659 Diesel is up nearly $2 a 144 00:04:55,660 --> 00:04:57,519 gallon compared to what it was last 145 00:04:57,520 --> 00:04:59,479 year. And again, 146 00:04:59,480 --> 00:05:01,399 a lot of our nation, our 147 00:05:01,400 --> 00:05:02,279 world. 148 00:05:02,280 --> 00:05:04,179 Global supply of oil travels 149 00:05:04,180 --> 00:05:05,739 through the Strait of Hormuz, so 150 00:05:05,740 --> 00:05:07,699 that's had a real, a shocking 151 00:05:07,700 --> 00:05:11,039 impact, both for automobile 152 00:05:11,040 --> 00:05:12,979 fuel, jet fuel, but 153 00:05:12,980 --> 00:05:13,980 certainly diesel. 154 00:05:15,699 --> 00:05:17,559 And so it 155 00:05:17,560 --> 00:05:19,039 makes it really difficult for 156 00:05:19,040 --> 00:05:20,319 farmers to plan. 157 00:05:20,320 --> 00:05:22,019 And of course, you're also struck 158 00:05:22,020 --> 00:05:24,059 with all the other increases in 159 00:05:24,060 --> 00:05:26,199 costs that all families are facing, 160 00:05:26,200 --> 00:05:28,119 right? Groceries and housing 161 00:05:28,120 --> 00:05:28,919 and. 162 00:05:28,920 --> 00:05:30,859 Child care and all the things 163 00:05:30,860 --> 00:05:33,319 that people struggle with. 164 00:05:33,320 --> 00:05:35,299 So on my part, 165 00:05:35,300 --> 00:05:36,979 I wanted to just make a couple of 166 00:05:36,980 --> 00:05:38,859 things given these 167 00:05:38,860 --> 00:05:40,259 challenges. 168 00:05:40,260 --> 00:05:42,099 I am opposed to the war in 169 00:05:42,100 --> 00:05:43,999 Iran. I feel as 170 00:05:44,000 --> 00:05:46,179 though it were, well, 171 00:05:46,180 --> 00:05:47,559 I feel strongly that it's a war of 172 00:05:47,560 --> 00:05:48,959 choice, that we weren't under 173 00:05:48,960 --> 00:05:50,879 attack. And so the president. 174 00:05:50,880 --> 00:05:53,099 Went in without congressional 175 00:05:53,100 --> 00:05:54,379 authorization. 176 00:05:54,380 --> 00:05:55,839 And because of that, and I know I'm 177 00:05:55,840 --> 00:05:57,819 getting in the weeds, but because 178 00:05:57,820 --> 00:05:59,779 of we've been forcing 179 00:05:59,780 --> 00:06:01,839 votes on war powers 180 00:06:01,840 --> 00:06:03,739 resolutions to contend 181 00:06:03,740 --> 00:06:05,239 that the president doesn't have the 182 00:06:05,240 --> 00:06:07,179 authority to just declare war on 183 00:06:07,180 --> 00:06:08,180 his own. 184 00:06:08,900 --> 00:06:11,119 And we are actually 185 00:06:11,120 --> 00:06:12,839 steadily gaining support. 186 00:06:14,259 --> 00:06:16,319 And our last vote 187 00:06:16,320 --> 00:06:17,999 right before the Memorial Day 188 00:06:18,000 --> 00:06:19,000 recess. 189 00:06:20,960 --> 00:06:23,039 Resulted in 50 in 190 00:06:23,040 --> 00:06:25,379 favor, 47 opposed to 191 00:06:25,380 --> 00:06:27,559 bringing the War Powers Resolution 192 00:06:27,560 --> 00:06:29,179 to the floor. So we now have a 193 00:06:29,180 --> 00:06:31,119 majority in the Senate, but we need 194 00:06:31,120 --> 00:06:32,959 more than that to actually 195 00:06:32,960 --> 00:06:34,859 drive a vote to bring it to an 196 00:06:34,860 --> 00:06:35,860 end. 197 00:06:36,580 --> 00:06:38,459 In addition, I'm involved in a 198 00:06:38,460 --> 00:06:40,399 number of pieces of legislation 199 00:06:40,400 --> 00:06:42,839 regarding the price of fertilizer. 200 00:06:42,840 --> 00:06:44,639 I wanted to just highlight the 201 00:06:44,640 --> 00:06:46,479 Fertilizer Transparency Act 202 00:06:46,480 --> 00:06:47,459 of 2026. 203 00:06:47,460 --> 00:06:49,149 This is a bipartisan. 204 00:06:49,150 --> 00:06:51,129 A bill that will give farmers 205 00:06:51,130 --> 00:06:53,029 more insight into input 206 00:06:53,030 --> 00:06:54,929 costs in 207 00:06:54,930 --> 00:06:57,369 real time so 208 00:06:57,370 --> 00:06:59,709 that planning can be, 209 00:06:59,710 --> 00:07:01,189 so you can rely on that for 210 00:07:01,190 --> 00:07:01,989 planning. 211 00:07:01,990 --> 00:07:03,589 I've also been involved in a couple 212 00:07:03,590 --> 00:07:05,429 of other bipartisan bills relating 213 00:07:05,430 --> 00:07:07,389 to fertilizer and looking at 214 00:07:07,390 --> 00:07:09,489 some more that might be introduced 215 00:07:09,490 --> 00:07:10,790 in the coming months. 216 00:07:12,210 --> 00:07:14,489 I'd like to have us more 217 00:07:14,490 --> 00:07:16,249 independent, self-sufficient as 218 00:07:16,250 --> 00:07:18,229 Americans on fertilizer 219 00:07:18,230 --> 00:07:19,199 production. 220 00:07:19,200 --> 00:07:21,259 There's been some initiatives to 221 00:07:21,260 --> 00:07:23,159 do that. It's a struggle 222 00:07:23,160 --> 00:07:25,219 because a lot of the inputs that 223 00:07:25,220 --> 00:07:26,959 we rely on are produced in other 224 00:07:26,960 --> 00:07:29,419 nations, including Canada, 225 00:07:29,420 --> 00:07:31,479 where we have a trade 226 00:07:31,480 --> 00:07:34,219 agreement that's being re-evaluated 227 00:07:34,220 --> 00:07:35,579 right now. 228 00:07:35,580 --> 00:07:38,059 So what I really wanna do is 229 00:07:38,060 --> 00:07:40,099 elevate the stories of how this is 230 00:07:40,100 --> 00:07:42,479 impacting Wisconsin farmers, 231 00:07:42,480 --> 00:07:44,599 soybean farmers, corn farmers, 232 00:07:44,600 --> 00:07:45,699 and... 233 00:07:47,580 --> 00:07:49,839 And talk about 234 00:07:49,840 --> 00:07:52,439 how this is impacting you. 235 00:07:52,440 --> 00:07:54,519 And so I want to just 236 00:07:54,520 --> 00:07:56,399 start with the 237 00:07:56,400 --> 00:07:58,279 question of how you're 238 00:07:58,280 --> 00:07:59,759 experiencing the rising fuel, 239 00:07:59,760 --> 00:08:02,019 diesel, and fertilizer costs 240 00:08:02,020 --> 00:08:04,419 in your operation, 241 00:08:04,420 --> 00:08:06,399 sort of happening at 242 00:08:06,400 --> 00:08:08,299 the same time as spring planting 243 00:08:08,300 --> 00:08:10,499 season, et cetera. 244 00:08:10,500 --> 00:08:12,799 And just for folks who aren't 245 00:08:12,800 --> 00:08:13,800 in agriculture 246 00:08:15,030 --> 00:08:16,949 We're sitting in a 247 00:08:16,950 --> 00:08:18,209 location that has a lot of 248 00:08:18,210 --> 00:08:20,069 diesel-consuming equipment. 249 00:08:20,070 --> 00:08:21,269 Tell me a little bit about what you 250 00:08:21,270 --> 00:08:22,789 have on your farms and how much 251 00:08:22,790 --> 00:08:24,449 diesel you need throughout the 252 00:08:24,450 --> 00:08:26,169 season and what you're doing when it 253 00:08:26,170 --> 00:08:28,329 goes up $2 over 254 00:08:28,330 --> 00:08:30,299 a gallon over last year. 255 00:08:30,300 --> 00:08:31,679 Jeff, do you want to start? 256 00:08:31,680 --> 00:08:32,879 Yeah, I'll start. 257 00:08:32,880 --> 00:08:34,699 I mean, here we got our one 258 00:08:34,700 --> 00:08:36,759 tractor that we use for strip 259 00:08:36,760 --> 00:08:39,139 tailing and multiple other things. 260 00:08:39,140 --> 00:08:41,099 That's got a 300-gallon fuel tank 261 00:08:41,100 --> 00:08:42,178 in it. 262 00:08:42,179 --> 00:08:44,139 And so we're putting in 200 263 00:08:44,140 --> 00:08:45,340 gallons a day. 264 00:08:47,380 --> 00:08:49,339 This year, we usually go 265 00:08:49,340 --> 00:08:51,539 through six 266 00:08:51,540 --> 00:08:53,979 semi-loads of diesel fuel, 267 00:08:53,980 --> 00:08:55,759 off-road diesel fuel in a year. 268 00:08:55,760 --> 00:08:57,779 And this 269 00:08:57,780 --> 00:08:59,739 year We didn't go 270 00:08:59,740 --> 00:09:01,899 and contract much out because, 271 00:09:01,900 --> 00:09:04,339 you know, prices were good and 272 00:09:04,340 --> 00:09:06,359 there was no 273 00:09:06,360 --> 00:09:08,199 indication that things were going to 274 00:09:08,200 --> 00:09:09,359 change. 275 00:09:09,360 --> 00:09:11,399 Right. So we didn't go and 276 00:09:11,400 --> 00:09:13,259 on our farm we didn't contract 277 00:09:13,260 --> 00:09:14,199 any out, you know. 278 00:09:14,200 --> 00:09:16,199 That's going to come back and 279 00:09:16,200 --> 00:09:17,799 really affect us. 280 00:09:17,800 --> 00:09:19,320 Like I said, when you put in, You 281 00:09:19,321 --> 00:09:21,339 know, 200 gallons into 282 00:09:21,340 --> 00:09:22,929 one tank. 283 00:09:22,930 --> 00:09:25,829 That $2 increase, $400, 284 00:09:25,830 --> 00:09:27,889 you know right there, I looked 285 00:09:27,890 --> 00:09:30,349 last year, we spent $120,000 286 00:09:30,350 --> 00:09:32,329 in fuel on the farm last year 287 00:09:32,330 --> 00:09:34,309 for both equipment and 288 00:09:34,310 --> 00:09:35,310 for our trucks. 289 00:09:37,050 --> 00:09:39,049 This year, that price 290 00:09:39,050 --> 00:09:40,690 has gone up a lot. 291 00:09:42,690 --> 00:09:45,409 So I mean, 292 00:09:45,410 --> 00:09:47,249 yeah, we've got storage here for us 293 00:09:47,250 --> 00:09:49,089 in the mold each time 294 00:09:49,090 --> 00:09:50,959 that we have to go. 295 00:09:50,960 --> 00:09:52,879 We still, similarly, come in 296 00:09:52,880 --> 00:09:54,539 and obviously we do these different 297 00:09:54,540 --> 00:09:56,500 practices, but we still burn fuel. 298 00:09:58,260 --> 00:10:00,599 Springtime, luckily, is our 299 00:10:00,600 --> 00:10:01,600 low unit of fuel. 300 00:10:02,660 --> 00:10:04,799 I did the math and per acre, we're 301 00:10:04,800 --> 00:10:05,819 probably going to be spending 302 00:10:05,820 --> 00:10:08,899 between $2 and $3 on fuel. 303 00:10:08,900 --> 00:10:10,979 We did have some water early 304 00:10:10,980 --> 00:10:12,999 before this all started, 305 00:10:14,380 --> 00:10:15,639 and the process always took about 306 00:10:15,640 --> 00:10:16,640 three weeks. 307 00:10:18,180 --> 00:10:19,459 But luckily we didn't go through 308 00:10:19,460 --> 00:10:21,939 much trouble. 309 00:10:21,940 --> 00:10:23,179 But it followed a different story. 310 00:10:23,180 --> 00:10:24,019 We've been hearing a whole lot of 311 00:10:24,020 --> 00:10:25,279 human talks. 312 00:10:25,280 --> 00:10:26,280 Yeah. 313 00:10:27,040 --> 00:10:27,839 I don't know. 314 00:10:27,840 --> 00:10:28,840 I don't know. 315 00:10:33,210 --> 00:10:35,409 Yeah, we're similar to 316 00:10:35,410 --> 00:10:37,309 Casey. We don't raise livestock at 317 00:10:37,310 --> 00:10:38,849 all. We're purely row crop. 318 00:10:38,850 --> 00:10:40,869 And so for us, 319 00:10:40,870 --> 00:10:43,409 spring, no till, 320 00:10:43,410 --> 00:10:44,949 so we're not running a bunch of 321 00:10:44,950 --> 00:10:46,209 tillage equipment in the spring. 322 00:10:46,210 --> 00:10:47,489 We're just running a planter, a 323 00:10:47,490 --> 00:10:48,349 sprayer. 324 00:10:48,350 --> 00:10:49,909 So our field demand in the springs 325 00:10:49,910 --> 00:10:51,989 is low, but it'll 326 00:10:51,990 --> 00:10:54,229 ramp up considerably in 327 00:10:54,230 --> 00:10:55,529 the fall of harvest. 328 00:10:55,530 --> 00:10:56,829 Where I think it does affect guys 329 00:10:56,830 --> 00:10:58,869 more is if they're full 330 00:10:58,870 --> 00:11:00,489 of tillage or livestock operations 331 00:11:00,490 --> 00:11:01,969 making hang, you know, your dairies 332 00:11:01,970 --> 00:11:03,289 and stuff. They're running equipment 333 00:11:03,290 --> 00:11:04,450 all the time. 334 00:11:06,230 --> 00:11:07,889 Yeah, pump and manure and some of 335 00:11:07,890 --> 00:11:09,389 these other processes. 336 00:11:13,530 --> 00:11:15,949 And thankfully, we have had an 337 00:11:15,950 --> 00:11:18,449 increasing commodity price, so 338 00:11:18,450 --> 00:11:20,549 that does help us out a little bit. 339 00:11:20,550 --> 00:11:22,409 I mean, if the bottom comes 340 00:11:22,410 --> 00:11:23,809 up, hopefully the top comes up a 341 00:11:23,810 --> 00:11:25,589 little too, but it makes everything 342 00:11:25,590 --> 00:11:26,909 more expensive. 343 00:11:26,910 --> 00:11:28,670 Your lives are under more stress. 344 00:11:30,050 --> 00:11:32,349 Well now, we don't have irrigation 345 00:11:32,350 --> 00:11:33,350 on our farm, 346 00:11:34,950 --> 00:11:36,789 but irrigators, those are 347 00:11:36,790 --> 00:11:38,989 run by diesel pumps and everything, 348 00:11:38,990 --> 00:11:40,609 so to water their crops. 349 00:11:40,610 --> 00:11:41,049 Yep. 350 00:11:41,050 --> 00:11:42,629 It's costing them a lot more money. 351 00:11:43,949 --> 00:11:45,629 Yeah, we've run ours a couple times, 352 00:11:45,630 --> 00:11:47,449 ours were electric, and 353 00:11:47,450 --> 00:11:49,289 then the time of day we run, 354 00:11:49,290 --> 00:11:50,290 so... 355 00:11:51,510 --> 00:11:53,469 I want to talk about fertilizer 356 00:11:53,470 --> 00:11:55,429 prices, too. 357 00:11:55,430 --> 00:11:57,249 But you're saying the price 358 00:11:57,250 --> 00:11:59,069 you're getting from the crop is up 359 00:11:59,070 --> 00:12:01,309 also, so I 360 00:12:01,310 --> 00:12:03,329 want to talk a little bit about 361 00:12:03,330 --> 00:12:04,330 that 362 00:12:05,250 --> 00:12:07,249 and the impact on 363 00:12:07,250 --> 00:12:08,250 the... 364 00:12:09,670 --> 00:12:11,569 Issue last year when China 365 00:12:11,570 --> 00:12:14,249 started buying from other countries, 366 00:12:14,250 --> 00:12:15,250 but 367 00:12:17,030 --> 00:12:18,429 fertilizer. 368 00:12:18,430 --> 00:12:20,199 What else do you need? 369 00:12:20,200 --> 00:12:22,019 That's much more impactful to 370 00:12:22,020 --> 00:12:24,239 us row crop guys as 371 00:12:24,240 --> 00:12:26,259 fertilizer and especially, 372 00:12:26,260 --> 00:12:27,639 no secret, I've got a soybean shirt 373 00:12:27,640 --> 00:12:29,559 on, Casey's wearing a corn shirt. 374 00:12:29,560 --> 00:12:31,459 We both grow corn, we 375 00:12:31,460 --> 00:12:33,359 grow soybeans as well. 376 00:12:33,360 --> 00:12:35,659 So in the soybean space, 377 00:12:35,660 --> 00:12:37,929 fertilizer is a lower demand. 378 00:12:37,930 --> 00:12:39,909 We've got great soils here 379 00:12:39,910 --> 00:12:41,469 in southern Wisconsin, we're good 380 00:12:41,470 --> 00:12:43,449 farmers, we take care of the land. 381 00:12:43,450 --> 00:12:45,929 So we do have a question of certain 382 00:12:45,930 --> 00:12:47,409 fertilizers. 383 00:12:47,410 --> 00:12:49,209 The big one is of course nitrogen 384 00:12:49,210 --> 00:12:50,469 for growing corn. 385 00:12:50,470 --> 00:12:52,589 Soil doesn't store it, 386 00:12:52,590 --> 00:12:54,209 you need to purchase that every 387 00:12:54,210 --> 00:12:55,169 year. 388 00:12:55,170 --> 00:12:56,689 So that's kind of the one I think a 389 00:12:56,690 --> 00:12:58,629 lot of guys are zooming in right 390 00:12:58,630 --> 00:12:59,909 now. 391 00:12:59,910 --> 00:13:01,449 And just ways that we should 392 00:13:01,450 --> 00:13:03,209 increase domestic nitrogen 393 00:13:03,210 --> 00:13:05,569 production and keep that production 394 00:13:05,570 --> 00:13:06,570 here. 395 00:13:07,680 --> 00:13:09,119 That's, that's, I think it would be 396 00:13:09,120 --> 00:13:11,139 some puzzle that we 397 00:13:11,140 --> 00:13:12,140 can figure out. 398 00:13:13,910 --> 00:13:15,470 This goes back to last fall, 399 00:13:17,470 --> 00:13:19,069 the P&K that we put down in the bus 400 00:13:19,070 --> 00:13:20,949 for some testing down last fall was 401 00:13:20,950 --> 00:13:22,929 probably $30 more in acre 402 00:13:22,930 --> 00:13:24,789 total than 403 00:13:24,790 --> 00:13:25,790 previous years. 404 00:13:27,090 --> 00:13:28,929 We have our nutrient levels up where 405 00:13:28,930 --> 00:13:30,089 they're supposed to be, so we were 406 00:13:30,090 --> 00:13:32,109 able to cut back on certain areas. 407 00:13:35,890 --> 00:13:37,349 We'll see what happens next. 408 00:13:37,350 --> 00:13:39,029 We'll get started. 409 00:13:56,080 --> 00:13:58,399 But when it spikes, 410 00:13:58,400 --> 00:14:00,559 like we're seeing, and of course if 411 00:14:00,560 --> 00:14:02,559 you pay contractor for it and you're 412 00:14:02,560 --> 00:14:04,279 not looking at the spike, you don't 413 00:14:04,280 --> 00:14:05,759 have to necessarily make all the 414 00:14:05,760 --> 00:14:06,679 adjustments. 415 00:14:06,680 --> 00:14:08,419 But when I was visiting a farm a 416 00:14:08,420 --> 00:14:10,319 week and a half ago in northern 417 00:14:10,320 --> 00:14:12,419 Wisconsin, he's 418 00:14:12,420 --> 00:14:14,319 out testing every field, going, 419 00:14:14,320 --> 00:14:16,339 what can I do without this year? 420 00:14:16,340 --> 00:14:18,479 And really it was 421 00:14:18,480 --> 00:14:20,759 micro-managing, 422 00:14:20,760 --> 00:14:22,579 is that what you might call it? 423 00:14:22,580 --> 00:14:23,829 His farm operation. 424 00:14:23,830 --> 00:14:25,749 And there are farmers that 425 00:14:25,750 --> 00:14:26,729 are doing that. 426 00:14:26,730 --> 00:14:28,349 I mean, the majority of farmers buy 427 00:14:28,350 --> 00:14:30,169 their, you know, 428 00:14:30,170 --> 00:14:32,369 all their inputs like in 429 00:14:32,370 --> 00:14:33,370 December, January. 430 00:14:34,390 --> 00:14:36,529 So most farmers had their 431 00:14:36,530 --> 00:14:39,029 stuff paid for for this year. 432 00:14:39,030 --> 00:14:40,829 But now I was just talking to a guy 433 00:14:40,830 --> 00:14:43,029 from the local co-op that 434 00:14:43,030 --> 00:14:45,129 works on buying for next year, 435 00:14:45,130 --> 00:14:46,329 and they're going to start buying in 436 00:14:46,330 --> 00:14:48,799 July for next month. 437 00:14:48,800 --> 00:14:50,819 And they said, even if 438 00:14:50,820 --> 00:14:52,699 the Iran War stopped right 439 00:14:52,700 --> 00:14:55,299 now, the Strait of Hormuz was open, 440 00:14:55,300 --> 00:14:57,999 it would take six months to 441 00:14:58,000 --> 00:15:00,059 get things figured out before prices 442 00:15:00,060 --> 00:15:01,879 would even think to stop coming 443 00:15:01,880 --> 00:15:03,399 down. 444 00:15:03,400 --> 00:15:05,559 Well, these co-ops and different 445 00:15:05,560 --> 00:15:07,419 dealers are buying that stuff 446 00:15:07,420 --> 00:15:09,679 now at these high prices. 447 00:15:09,680 --> 00:15:11,399 And so that's going to be 448 00:15:11,400 --> 00:15:13,379 transferred to us when we're 449 00:15:13,380 --> 00:15:15,040 buying this December and January. 450 00:15:16,980 --> 00:15:19,839 So, I mean, this year, 451 00:15:19,840 --> 00:15:21,699 yeah, it's an impact, but 452 00:15:21,700 --> 00:15:23,259 it's next year that's going to be 453 00:15:23,260 --> 00:15:24,289 the big impact. 454 00:15:24,290 --> 00:15:25,290 That's right. 455 00:15:26,090 --> 00:15:27,949 Would you say most soy 456 00:15:27,950 --> 00:15:31,089 and corn farmers would 457 00:15:31,090 --> 00:15:33,069 buy by 458 00:15:33,070 --> 00:15:34,070 the end of January? 459 00:15:35,140 --> 00:15:37,219 The majority of them do, I'd 460 00:15:37,220 --> 00:15:39,699 say. Squall operations, maybe not. 461 00:15:39,700 --> 00:15:41,179 The ones that don't are the ones 462 00:15:41,180 --> 00:15:42,679 that are doing canning crops. 463 00:15:42,680 --> 00:15:44,319 They're not sure what they're going 464 00:15:44,320 --> 00:15:46,259 to, you know, 465 00:15:46,260 --> 00:15:47,419 what's going to be in canning crops 466 00:15:47,420 --> 00:15:48,519 or what they are going to put in the 467 00:15:48,520 --> 00:15:49,319 corner of soybeans. 468 00:15:49,320 --> 00:15:50,959 Those are the one that are buying 469 00:15:50,960 --> 00:15:51,960 them this morning. 470 00:15:53,470 --> 00:15:55,389 Tell me a little bit 471 00:15:55,390 --> 00:15:57,249 more about how 472 00:15:57,250 --> 00:15:59,789 the trade wars and especially 473 00:15:59,790 --> 00:16:04,549 the cancelation of 474 00:16:04,550 --> 00:16:07,389 contracts with China impacted 475 00:16:07,390 --> 00:16:09,449 the 476 00:16:09,450 --> 00:16:11,689 demand, the global demand for soy, 477 00:16:11,690 --> 00:16:13,609 and how that trickles down 478 00:16:13,610 --> 00:16:15,749 to each of your operations. 479 00:16:15,750 --> 00:16:17,309 You know, when you hear that... 480 00:16:18,710 --> 00:16:21,309 China decided to 481 00:16:21,310 --> 00:16:23,289 retaliate for our tariffs 482 00:16:23,290 --> 00:16:25,789 and purchase from 483 00:16:25,790 --> 00:16:27,809 Argentina, purchase from Brazil, 484 00:16:27,810 --> 00:16:29,169 purchase from other countries. 485 00:16:30,910 --> 00:16:33,069 What's the impact on 486 00:16:33,070 --> 00:16:34,949 each individual operation 487 00:16:34,950 --> 00:16:36,449 and where do you see that? 488 00:16:36,450 --> 00:16:38,749 You sell to someone who then 489 00:16:38,750 --> 00:16:40,949 sells into the global market, 490 00:16:40,950 --> 00:16:41,950 right? 491 00:16:42,170 --> 00:16:43,989 Just explain to a lay person 492 00:16:43,990 --> 00:16:44,869 how that works. 493 00:16:44,870 --> 00:16:47,149 And yeah, I mean we're 494 00:16:47,150 --> 00:16:49,009 selling to our local co-ops or 495 00:16:49,010 --> 00:16:50,629 local elevators and they're the ones 496 00:16:50,630 --> 00:16:52,209 that are selling to the bigger 497 00:16:52,210 --> 00:16:53,870 companies that ship it worldwide. 498 00:16:55,250 --> 00:16:56,529 You know someone like Matt's got 499 00:16:56,530 --> 00:16:58,429 DeLong's close to him that does 500 00:16:58,430 --> 00:17:00,490 the worldwide shipping right there. 501 00:17:02,190 --> 00:17:04,129 But you know what I see 502 00:17:04,130 --> 00:17:06,469 when it comes down to 503 00:17:06,470 --> 00:17:08,389 all this stuff is like 504 00:17:08,390 --> 00:17:10,469 when China 505 00:17:10,470 --> 00:17:12,229 was going back and forth we're 506 00:17:12,230 --> 00:17:13,608 buying, we're not buying. 507 00:17:13,609 --> 00:17:13,959 Thank you. 508 00:17:13,960 --> 00:17:16,078 You know as farmers 509 00:17:16,079 --> 00:17:18,279 we're pretty optimistic people 510 00:17:18,280 --> 00:17:19,818 you know things are going to work 511 00:17:19,819 --> 00:17:21,858 out we're gonna get through 512 00:17:21,859 --> 00:17:23,899 yeah we may have a bad few bad 513 00:17:23,900 --> 00:17:25,739 years here and there but 514 00:17:25,740 --> 00:17:27,059 we're going to have those good years 515 00:17:27,060 --> 00:17:28,399 to help us get through and 516 00:17:28,400 --> 00:17:30,719 everything with 517 00:17:30,720 --> 00:17:33,079 stuff that's been going on I'm 518 00:17:33,080 --> 00:17:34,959 seeing less optimism when I talk to 519 00:17:34,960 --> 00:17:37,359 my neighbors because 520 00:17:37,360 --> 00:17:39,579 okay yeah our prices they 521 00:17:39,580 --> 00:17:41,499 didn't dropped dramatically 522 00:17:41,500 --> 00:17:42,679 through all this. 523 00:17:43,920 --> 00:17:45,739 But we're not 524 00:17:45,740 --> 00:17:47,759 seeing that build up of 525 00:17:47,760 --> 00:17:49,799 okay in the future we're going to be 526 00:17:49,800 --> 00:17:51,619 you know sending you 527 00:17:51,620 --> 00:17:53,639 know soybeans to China 528 00:17:53,640 --> 00:17:54,229 or anything. 529 00:17:54,230 --> 00:17:55,749 This is kind of a lag effect when 530 00:17:55,750 --> 00:17:57,039 you hear those announcements. 531 00:17:57,040 --> 00:17:58,879 Yep and so you 532 00:17:58,880 --> 00:17:59,919 know so we're sitting here going 533 00:17:59,920 --> 00:18:01,799 okay are we going to get 534 00:18:01,800 --> 00:18:03,439 the China market back? 535 00:18:03,440 --> 00:18:04,799 Probably not. 536 00:18:04,800 --> 00:18:06,979 We need to be working 537 00:18:06,980 --> 00:18:08,839 on you know 538 00:18:08,840 --> 00:18:10,359 working on other countries and 539 00:18:10,360 --> 00:18:12,219 whether that's soybeans or corn 540 00:18:12,220 --> 00:18:14,479 we need to spread 541 00:18:14,480 --> 00:18:16,619 it out more and not so reliant 542 00:18:16,620 --> 00:18:18,579 on one country and 543 00:18:18,580 --> 00:18:20,779 we need a lot more domestic uses 544 00:18:20,780 --> 00:18:22,639 for our products and 545 00:18:22,640 --> 00:18:24,559 that way we're not so on the world 546 00:18:24,560 --> 00:18:25,929 market. Yeah. 547 00:18:25,930 --> 00:18:28,009 Any other comments on that? 548 00:18:28,010 --> 00:18:29,409 We travel quite a ways for our 549 00:18:29,410 --> 00:18:31,489 soybeans. We go down to Joliet on 550 00:18:31,490 --> 00:18:33,289 the south side of Chicago. 551 00:18:33,290 --> 00:18:35,049 And this year versus last year, 552 00:18:35,050 --> 00:18:37,049 they're paying $1.50 more a bushel. 553 00:18:38,550 --> 00:18:39,989 That's a container market, and it 554 00:18:39,990 --> 00:18:41,449 all goes, whether it goes to China 555 00:18:41,450 --> 00:18:42,769 or Vietnam. 556 00:18:42,770 --> 00:18:44,669 The lungs goes everywhere, so 557 00:18:44,670 --> 00:18:46,169 who knows where those went. 558 00:18:46,170 --> 00:18:48,109 In that area, and granted, it's 559 00:18:48,110 --> 00:18:48,949 just like the fertilizer. 560 00:18:48,950 --> 00:18:49,809 You don't know what's going to happen 561 00:18:49,810 --> 00:18:50,809 next year. 562 00:18:50,810 --> 00:18:52,649 But as of right now, the market's up 563 00:18:52,650 --> 00:18:54,129 that much compared to what we sold 564 00:18:54,130 --> 00:18:55,130 last year. 565 00:18:56,780 --> 00:18:59,019 Yeah, our beans, we 566 00:18:59,020 --> 00:19:00,879 raise about 1,500 acres of soybeans 567 00:19:00,880 --> 00:19:03,139 and they're split about 500, 568 00:19:03,140 --> 00:19:04,539 500, 500. 569 00:19:04,540 --> 00:19:06,399 And I would say 500 are in our 570 00:19:06,400 --> 00:19:08,699 food grades, so those are going to 571 00:19:08,700 --> 00:19:10,379 Joliet, going in the container, and 572 00:19:10,380 --> 00:19:12,459 those are gone to 573 00:19:12,460 --> 00:19:14,519 Vietnam, Korea, Japan 574 00:19:14,520 --> 00:19:16,479 to be consumed, not necessarily 575 00:19:16,480 --> 00:19:17,480 the longest. 576 00:19:18,030 --> 00:19:19,929 500 of them are going into 577 00:19:19,930 --> 00:19:21,309 what I would call the commodity bean 578 00:19:21,310 --> 00:19:22,789 market, so that's like a straight 579 00:19:22,790 --> 00:19:24,889 export to China or oil. 580 00:19:24,890 --> 00:19:26,749 And then we have 500 acres this 581 00:19:26,750 --> 00:19:28,289 year for the first time of unique 582 00:19:28,290 --> 00:19:30,369 product that's in the Wisconsin 583 00:19:30,370 --> 00:19:32,449 dairy market and they're 584 00:19:32,450 --> 00:19:34,409 crushing it and feeding it to cattle 585 00:19:34,410 --> 00:19:36,509 and that's a really to 586 00:19:36,510 --> 00:19:39,149 me good opportunity. 587 00:19:39,150 --> 00:19:40,769 I mean it's domestic and better than 588 00:19:40,770 --> 00:19:42,029 domestic it's Wisconsin. 589 00:19:42,030 --> 00:19:43,869 It's going and staying right here 590 00:19:43,870 --> 00:19:45,689 and I think. 591 00:19:45,690 --> 00:19:46,929 We need to make sure we're not 592 00:19:46,930 --> 00:19:48,629 putting all of our eggs in a basket. 593 00:19:48,630 --> 00:19:50,969 Right. To spread this risk out. 594 00:19:50,970 --> 00:19:51,970 Right. 595 00:19:54,189 --> 00:19:56,449 I have a question about those. 596 00:19:56,450 --> 00:19:57,450 Maybe there's. 597 00:19:59,790 --> 00:20:02,549 Different markets for corn and soy. 598 00:20:02,550 --> 00:20:04,569 And there's a 599 00:20:04,570 --> 00:20:06,549 big battle that 600 00:20:06,550 --> 00:20:08,289 we've been fighting to try to get 601 00:20:08,290 --> 00:20:11,499 like E15 year round 602 00:20:11,500 --> 00:20:13,509 that impacts soy and corn 603 00:20:13,510 --> 00:20:14,649 differently. 604 00:20:14,650 --> 00:20:16,989 How do you 605 00:20:16,990 --> 00:20:19,449 watch the various associations, 606 00:20:19,450 --> 00:20:21,069 corn association and the soy 607 00:20:21,070 --> 00:20:22,709 association, how do you struggle 608 00:20:22,710 --> 00:20:24,979 with those issues? 609 00:20:24,980 --> 00:20:26,959 I mean, I guess I'd 610 00:20:26,960 --> 00:20:28,499 say, we work together. 611 00:20:28,500 --> 00:20:30,939 We have a few little minor 612 00:20:30,940 --> 00:20:33,519 disagreements, but I mean 613 00:20:33,520 --> 00:20:35,919 like Mads said before, 614 00:20:35,920 --> 00:20:37,899 we're corn growers, we are soybean 615 00:20:37,900 --> 00:20:39,819 growers, we grow everything, so 616 00:20:39,820 --> 00:20:41,679 we're very, we've 617 00:20:41,680 --> 00:20:42,879 worked together a lot. 618 00:20:42,880 --> 00:20:44,879 It's not a us-versus-them type 619 00:20:44,880 --> 00:20:45,589 of thing. 620 00:20:45,590 --> 00:20:45,959 Yeah. 621 00:20:45,960 --> 00:20:48,339 And so yeah 622 00:20:48,340 --> 00:20:50,559 we watch what's going on 623 00:20:50,560 --> 00:20:52,459 we want we 624 00:20:52,460 --> 00:20:54,379 want what's best you know on soybean 625 00:20:54,380 --> 00:20:55,999 side we want that's best for corn 626 00:20:56,000 --> 00:20:57,859 because that helps us on our farms 627 00:20:57,860 --> 00:20:59,499 corn wants what's the best for 628 00:20:59,500 --> 00:21:01,119 soybeans because you know it's 629 00:21:01,120 --> 00:21:03,059 helping on everyone's farms so 630 00:21:03,060 --> 00:21:05,279 i mean we work more together 631 00:21:05,280 --> 00:21:06,280 and yeah 632 00:21:07,420 --> 00:21:09,239 Like when we come out to Washington 633 00:21:09,240 --> 00:21:10,719 D.C. 634 00:21:10,720 --> 00:21:12,679 And come in and visit the different 635 00:21:12,680 --> 00:21:14,759 offices, we're pretty much 636 00:21:14,760 --> 00:21:16,080 saying the same things. 637 00:21:17,760 --> 00:21:19,659 If there's been times where one's 638 00:21:19,660 --> 00:21:21,139 walked in just before the other and 639 00:21:21,140 --> 00:21:22,139 it's the same message. 640 00:21:22,140 --> 00:21:22,948 Yes. 641 00:21:22,949 --> 00:21:23,949 Um, 642 00:21:24,810 --> 00:21:26,849 and yeah, or, or it's got to be 15 643 00:21:26,850 --> 00:21:28,629 minutes, you know, they're, they are 644 00:21:28,630 --> 00:21:30,469 working on, so I think we got 645 00:21:30,470 --> 00:21:32,589 to buy the diesel and everything, 646 00:21:32,590 --> 00:21:34,569 um, but like I said, we 647 00:21:34,570 --> 00:21:36,509 want to work together and, uh, 648 00:21:36,510 --> 00:21:37,549 we're not going to keep people at 649 00:21:37,550 --> 00:21:38,550 the same time. 650 00:21:41,510 --> 00:21:43,409 Thank you for your support of V15 651 00:21:43,410 --> 00:21:45,149 and hopefully you can send that 652 00:21:45,150 --> 00:21:46,150 through. 653 00:21:46,570 --> 00:21:48,029 It's even bigger than V15, it's the 654 00:21:48,030 --> 00:21:49,909 whole bio fuel in general. 655 00:21:49,910 --> 00:21:51,109 One helps one, should help the 656 00:21:51,110 --> 00:21:52,089 other. 657 00:21:52,090 --> 00:21:53,909 The V15 passes and that 658 00:21:53,910 --> 00:21:55,269 pushes the corn market. 659 00:21:55,270 --> 00:21:57,349 So it means it follows you 660 00:21:57,350 --> 00:21:59,369 and you have to fight for the 661 00:21:59,370 --> 00:22:00,589 acres to make the money and they 662 00:22:00,590 --> 00:22:01,669 come up with something too that 663 00:22:01,670 --> 00:22:02,559 you're confident of. 664 00:22:02,560 --> 00:22:03,549 Yeah. 665 00:22:03,550 --> 00:22:04,550 Yeah. 666 00:22:05,950 --> 00:22:09,189 Okay, I think part of the 667 00:22:09,190 --> 00:22:12,029 debate, the E-15 668 00:22:12,030 --> 00:22:14,209 year round and 669 00:22:14,210 --> 00:22:16,229 then stopping granting 670 00:22:16,230 --> 00:22:18,089 the waivers to the small refineries 671 00:22:18,090 --> 00:22:19,090 that don't want to do that. 672 00:22:20,260 --> 00:22:22,339 That's that's on the soybean 673 00:22:22,340 --> 00:22:24,459 side we're you know 674 00:22:24,460 --> 00:22:26,699 very supportive of E-15 675 00:22:26,700 --> 00:22:28,759 but like you said it's all 676 00:22:28,760 --> 00:22:31,199 small refinery exemptions that's 677 00:22:31,200 --> 00:22:34,799 going to hurt the soybean market so 678 00:22:34,800 --> 00:22:36,739 that's the one part of the bill 679 00:22:36,740 --> 00:22:38,919 that you know we 680 00:22:38,920 --> 00:22:41,139 have a little issue with yes 681 00:22:41,140 --> 00:22:42,999 E- 15 is a great product 682 00:22:43,000 --> 00:22:44,959 we want that be used, 683 00:22:44,960 --> 00:22:46,919 but we we want to make sure 684 00:22:46,920 --> 00:22:48,239 that it's not... 685 00:22:48,240 --> 00:22:50,359 At a detriment to soybeans. 686 00:22:50,360 --> 00:22:52,199 And it's the small refinery 687 00:22:52,200 --> 00:22:54,019 exemption part that would be 688 00:22:54,020 --> 00:22:55,699 hurt to soybeans, not the E15 689 00:22:55,700 --> 00:22:56,779 itself. 690 00:22:56,780 --> 00:22:58,039 Yeah, yeah. 691 00:22:58,040 --> 00:23:00,459 So what are you hearing from your 692 00:23:00,460 --> 00:23:02,799 farming neighbors about the 693 00:23:02,800 --> 00:23:04,659 costs that are going up? 694 00:23:04,660 --> 00:23:06,079 What's the discussion like when 695 00:23:06,080 --> 00:23:07,959 you're too busy 696 00:23:07,960 --> 00:23:09,799 to be chatting most 697 00:23:09,800 --> 00:23:11,899 of the time, but especially this 698 00:23:11,900 --> 00:23:13,259 time of year? 699 00:23:13,260 --> 00:23:14,719 What are you hear about how people 700 00:23:14,720 --> 00:23:16,859 are starting the NPC crisis 701 00:23:16,860 --> 00:23:17,860 or... 702 00:23:19,610 --> 00:23:21,329 Are pretty resilient, pretty 703 00:23:21,330 --> 00:23:22,849 adaptable. 704 00:23:22,850 --> 00:23:24,989 I think the talk is just 705 00:23:24,990 --> 00:23:26,929 always keeping an eye on it. 706 00:23:26,930 --> 00:23:28,049 You're keeping an eyes on your equal 707 00:23:28,050 --> 00:23:29,389 cost. You keep an eye in the green 708 00:23:29,390 --> 00:23:30,729 market, and you're figuring out 709 00:23:30,730 --> 00:23:32,109 where to pull the trigger on each 710 00:23:32,110 --> 00:23:33,110 one. 711 00:23:33,830 --> 00:23:35,769 And lock in margin if you can. 712 00:23:35,770 --> 00:23:37,849 So we're always upbeat 713 00:23:37,850 --> 00:23:38,869 and positive. 714 00:23:38,870 --> 00:23:40,629 Usually you get bummed out for a few 715 00:23:40,630 --> 00:23:42,169 days, and then something changes or 716 00:23:42,170 --> 00:23:43,809 another calamity comes up and pulls 717 00:23:43,810 --> 00:23:45,059 you in that direction. 718 00:23:45,060 --> 00:23:47,160 And when we're talking to neighbors, 719 00:23:48,380 --> 00:23:50,559 we're not, you know, well, oh, yeah, 720 00:23:50,560 --> 00:23:52,739 you know, these prices, you, 721 00:23:52,740 --> 00:23:54,559 know, aren't good, you know, they're 722 00:23:54,560 --> 00:23:56,519 gonna impact us, but we don't 723 00:23:56,520 --> 00:23:57,579 dwell on it. 724 00:23:57,580 --> 00:23:59,739 We sit there, okay, but what's 725 00:23:59,740 --> 00:24:01,720 next? What else can we do? 726 00:24:20,499 --> 00:24:22,559 You have your price 727 00:24:22,560 --> 00:24:24,419 for this season, 728 00:24:24,420 --> 00:24:26,159 how much transparency do you have 729 00:24:26,160 --> 00:24:27,979 from the co-op 730 00:24:27,980 --> 00:24:30,979 or the entity 731 00:24:30,980 --> 00:24:32,859 you're selling to on what is 732 00:24:32,860 --> 00:24:34,179 going to be in the future? 733 00:24:34,180 --> 00:24:37,259 Is that just the 734 00:24:37,260 --> 00:24:38,420 dealing with the volatility? 735 00:24:40,840 --> 00:24:42,899 On markets, you've got the Chicago 736 00:24:42,900 --> 00:24:44,819 bull trade, so that's 737 00:24:44,820 --> 00:24:45,899 really transparent. 738 00:24:45,900 --> 00:24:47,699 You can see out a long ways as far 739 00:24:47,700 --> 00:24:48,859 as the contracts go. 740 00:24:48,860 --> 00:24:50,139 What the question is is what the 741 00:24:50,140 --> 00:24:51,179 basis is. 742 00:24:51,180 --> 00:24:52,099 So that's what they're going to 743 00:24:52,100 --> 00:24:53,479 charge you for getting in from the 744 00:24:53,480 --> 00:24:54,699 farm to the market. 745 00:24:54,700 --> 00:24:56,199 And that's, you know, a lot of guys 746 00:24:56,200 --> 00:24:57,379 would guess on that. 747 00:24:57,380 --> 00:24:59,079 It's more on the input side, that 748 00:24:59,080 --> 00:25:00,719 you just don't know. 749 00:25:00,720 --> 00:25:02,539 You look at trend lines and what 750 00:25:02,540 --> 00:25:03,959 you've paid in years past. 751 00:25:03,960 --> 00:25:05,780 But then something 752 00:25:06,800 --> 00:25:08,359 happens that makes it spike or 753 00:25:08,360 --> 00:25:09,559 change and then that's where it gets 754 00:25:09,560 --> 00:25:10,679 a little bit trickier you know 755 00:25:10,680 --> 00:25:12,559 you're like well it's gonna get 756 00:25:12,560 --> 00:25:14,439 better then it works and you just 757 00:25:14,440 --> 00:25:16,139 kind of eventually you have to make 758 00:25:16,140 --> 00:25:17,140 a decision 759 00:25:18,620 --> 00:25:20,719 educated guess what's 760 00:25:20,720 --> 00:25:22,019 if they've got a crystal ball that I 761 00:25:22,020 --> 00:25:24,059 don't have we definitely 762 00:25:24,060 --> 00:25:26,559 don't crystal ball here 763 00:25:26,560 --> 00:25:28,119 But yeah, when it comes to markets, 764 00:25:28,120 --> 00:25:30,139 you know, we're we got bids out for 765 00:25:30,140 --> 00:25:32,219 contracts for the 2026 year, 766 00:25:32,220 --> 00:25:34,279 we got bids off for the 2027 767 00:25:34,280 --> 00:25:36,099 year. So I mean, stuff we haven't 768 00:25:36,100 --> 00:25:38,239 even started looking at input prices 769 00:25:38,240 --> 00:25:39,279 yet. 770 00:25:39,280 --> 00:25:40,599 We've got bits out there going, 771 00:25:40,600 --> 00:25:42,959 okay, here's what we think 772 00:25:42,960 --> 00:25:44,339 would be a good price. 773 00:25:44,340 --> 00:25:46,219 So we'll start putting those out 774 00:25:46,220 --> 00:25:48,199 there. And so yeah, we've got some 775 00:25:48,200 --> 00:25:50,059 both corn and soybeans sold for 776 00:25:50,060 --> 00:25:51,349 2027. 777 00:25:51,350 --> 00:25:52,449 Okay. 778 00:25:52,450 --> 00:25:54,009 What sort of volatility do you see 779 00:25:54,010 --> 00:25:56,489 in seeds prices? 780 00:25:58,570 --> 00:25:59,749 Thankfully, that's the one thing 781 00:25:59,750 --> 00:26:01,239 that's pretty much flat. 782 00:26:01,240 --> 00:26:02,799 After the last couple of years. 783 00:26:02,800 --> 00:26:03,939 It doesn't change a lot. 784 00:26:03,940 --> 00:26:05,839 Yep, yeah, those prices are pretty 785 00:26:05,840 --> 00:26:06,779 consistent. 786 00:26:06,780 --> 00:26:07,780 It's domestic. 787 00:26:08,730 --> 00:26:10,639 Yeah Well, 788 00:26:10,640 --> 00:26:11,799 and that's the one thing that 789 00:26:11,800 --> 00:26:13,859 generally we can say is better 790 00:26:13,860 --> 00:26:15,679 than old, seeds of today are 791 00:26:15,680 --> 00:26:17,539 better than seeds of 10 years ago, 792 00:26:17,540 --> 00:26:20,079 100%. 793 00:26:20,080 --> 00:26:21,939 My diesel fuel and my 794 00:26:21,940 --> 00:26:23,759 potash are exactly the same 795 00:26:23,760 --> 00:26:25,239 that I bought 10 years ago. 796 00:26:25,240 --> 00:26:26,240 They just cost more. 797 00:26:28,780 --> 00:26:30,939 But the seed is, the technology 798 00:26:30,940 --> 00:26:33,859 is better, the genetics are better. 799 00:26:33,860 --> 00:26:35,419 Yeah, yeah, you can look at that and 800 00:26:35,420 --> 00:26:37,299 say, well, I understand 801 00:26:37,300 --> 00:26:38,740 a little bit, and they've 802 00:26:40,000 --> 00:26:41,619 Hopefully this isn't an invitation 803 00:26:41,620 --> 00:26:42,599 for the marriage crisis. 804 00:26:42,600 --> 00:26:45,599 Well, yeah, you don't 805 00:26:45,600 --> 00:26:47,779 want more profiteering or, you 806 00:26:47,780 --> 00:26:49,569 know, that sort of thing going on. 807 00:26:49,570 --> 00:26:51,449 And, I mean, on farms that's 808 00:26:51,450 --> 00:26:53,209 our biggest, the biggest thing you 809 00:26:53,210 --> 00:26:54,449 hear from people and our biggest 810 00:26:54,450 --> 00:26:56,289 fear is these prices, they go up 811 00:26:56,290 --> 00:26:58,109 so fast, but it 812 00:26:58,110 --> 00:27:00,309 takes a long time for 813 00:27:00,310 --> 00:27:02,089 prices to come back down for our 814 00:27:02,090 --> 00:27:03,309 inputs, whether it's fuel, 815 00:27:03,310 --> 00:27:04,949 fertilizer, or anything that we're 816 00:27:04,950 --> 00:27:05,950 using here. 817 00:27:07,950 --> 00:27:10,049 Well, I so appreciate your coming 818 00:27:10,050 --> 00:27:11,929 and talking about 819 00:27:11,930 --> 00:27:14,129 the impacts of 820 00:27:14,130 --> 00:27:16,869 these price increases. 821 00:27:16,870 --> 00:27:18,849 Sudden and 822 00:27:18,850 --> 00:27:20,709 scary in terms of 823 00:27:20,710 --> 00:27:21,929 how long they're going to stick with 824 00:27:21,930 --> 00:27:24,329 us, but I 825 00:27:24,330 --> 00:27:25,390 appreciate that. 826 00:27:31,480 --> 00:27:33,499 We're here for it, 827 00:27:33,500 --> 00:27:34,700 too. Yeah, I am too. 828 00:27:36,700 --> 00:27:38,019 I think we're going to do a group 829 00:27:38,020 --> 00:27:39,959 photo out by the track around here. 830 00:27:39,960 --> 00:27:40,960 Oh great!