Growing our Generation: Grain bin safety training could save a life
Farming is a very rewarding occupation, but it can come with hazardous territory if there are not proper training protocols in place.
Read MoreA growing list of food companies and agribusinesses are offering payments to farmers for climate-smart farming practices if these practices can be adequately documented. Providing the right data to those companies is fundamental to opening and maintaining this new carbon-farming revenue stream for farmers.
The following information is provided by Nationwide, the No. 1 farm and ranch insurer in the U.S.*
A growing list of food companies and agribusinesses are offering payments to farmers for climate-smart farming practices if these practices can be adequately documented. Providing the right data to those companies is fundamental to opening and maintaining this new carbon-farming revenue stream for farmers.
Carbon farming involves implementing practices that are known to improve the rate at which CO2 is removed from the atmosphere and converted to plant material and/or soil organic matter.
“Carbon farming can potentially benefit farmers in a couple of ways. First, it can provide an additional revenue stream for your farm,” said Nationwide Risk Management Consultant Derek Hommer. “Second, it can improve crop production in the long run. Today’s conservation-driven farming practices, including no-till, living cover crops and perennial crop rotations, can help build more resilient, healthy soils.”
Data collection is nothing new for many progressive crop farmers. Today’s precision ag technology enables farmers to collect and leverage data to make informed crop input and management decisions. Now, the “ag carbon economy” is calling on farmers to collect additional data to help document their farming practices that are contributing to the overall effort to lower agriculture’s carbon footprint.
“The more data you have, the better you can tell your story,” Hommer said. “A lot of farmers have already implemented the practices being requested — like no-till and cover crops — in some cases for decades. They just aren’t keeping records. As you begin taking steps to become part of the ag carbon economy, it’s crucial to figure out what data you need to collect and how you’re going to collect it.”
The data required to verify your carbon-smart farming practices is a valuable commodity and represents your path to a totally new revenue stream on your farm. As such, Hommer recommends working with platforms and software that can verify the security of your data.
“The ultimate goal is to collect everything, analyze your data and put it to work for the betterment of your farm,” he said. “Be cautious with who you share your data with and how much you share. Make sure you’re working with the right partners to ensure you’re doing what you need to do to create new revenue for your farm.”
Visit AgInsightCenter.com for expert tips and information from Nationwide to help you navigate the changing agricultural landscape, run a successful business and maintain the safety of your farm operation.
*A.M. Best Market Share Report 2020. Nationwide, the Nationwide N and Eagle, and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. © 2021 Nationwide
Photo: istockphoto.com
Farming is a very rewarding occupation, but it can come with hazardous territory if there are not proper training protocols in place.
Read MoreLearn what to think about when it comes to diversifying your farm and how changes to the Corporate Transparency Act could impact your operation.
Read MoreLearn about five things farmers should consider for a successful crop season from Nationwide and find out how Ohio farmers are the highlight of a weekly TV segment.
Read MoreCaleb Hickman of Utica FFA was recently awarded the Golden Owl Award for District 7 of the Ohio FFA. Hickman,…
Read MoreA transition plan will help you ensure that your (and your family’s) wishes are met, emotional stress is minimized, and financial risks and opportunities are addressed.
Read MoreThis collaborative approach is designed to draft personalized transition plans for farms, ensuring the seamless transfer of both business and familial responsibilities.
Read MoreNominate Your Fire Department to win grain rescue tubes and hands-on training. Deadline: April 30, 2024.
Read MoreGet the 2023 results of the Fight Hunger, Stock the Trailer contest, learn about tax savings on off-farm job benefits and find out about a new Ag Literacy Certification Program.
Read MoreThe IRS tax code Section 179 deduction is a way to reduce the total cost of new equipment and machinery by enabling the buyer to claim full depreciation in year one.
Read MoreTo manage the risks of their business, Orrson Custom Farming follows strict safety protocols, provides ongoing training for crew members and keeps insurance coverage updated.
Read More