Planting season is nearing in North America and as farmers head to the fields, they’re doing so in a tough global market for agricultural commodities. Those markets have an impact on nearly every facet of our daily lives. Today we are joined by Dr. Scott Irwin, author and Laurence J. Norton Chair of Agricultural Marketing at the University of Illinois, to share his market perspective (it’s on the side of bearish) and what he sees ahead.  How low for how long? That’s a big question for the markets and one Scott dives into during the discussion. He also talks about his book, Back to the Futures, looking at the ag markets as an implication on the broader economy and educating a widespread audience using stories from his childhood on an Iowa farm.

We are living in a time of innovation crisis where most innovation isn’t driven by large corporations despite them being managed better than ever before, says High Alpha Innovation CEO Elliott Parker. One day ahead of his new book release, The Illusion of Innovation, he joins us to get into how corporations equipped for efficiency losing their resilience and why it’s dangerous to advancing innovation. Now this isn’t a hot take: Elliott believes in efficiency, but not as a lone strategy. He talks about controlled chaos, a systematic approach to experimentation and uncovering ideas to challenge things we think we know. So what do companies do? Elliott talks new funding mechanisms, finding the best home for innovations to grow and being contrarian to win over the long-term. The Illusion of Innovation comes out tomorrow, April 16. Learn more here.

Agbioscience is the only economy in the world that touches every person on planet, every day, given that it centers on food. Today we are joined by Lorelei Begin, Vice President of North American Retail for NielsenIQ  to talk trends shaping food and what’s ahead for grocery store shelves in 2024. From ingredient labels being more closely examined by savvy shoppers to the uptick of wellness-related products gaining more traction, Lorelei lays out what is driving consumer behavior and purchase patterns. She also gets into data creating insights for food companies to get the ultimate in-store commodity: shelf space.  Mitch and Lorelei take time to walk through consumers’ increased focus on health, GLP-1 drugs, how it’s shaping what goes in grocery carts and the food system’s response. How does a focus on health function in a tightening economy? Lorelei says food is first and a “better for you” lifestyle is staying resilient in these times. She also looks ahead to trends we could see impacting the food space and how that impacts consumers – no matter their budget.

As we head into the spring planting season, there is much focus on technologies and innovations that will enable producers to drive returns in a tightening farm economy. Andrew Sunderman, Join Venture Transition Lead for AGCO, joins today to talk about their new JV with Trimble and having an innovation ecosystem ready to serve the farmer – no matter how or what they’re investing in for their operations during any given year.  In a time where it could be easy to say no to new tech or innovation, how does AGCO differentiate? Andrew talks control and accuracy, usability and optimizing outcomes. From their retrofit tech approach that helps to leverage smaller bets on-farm to improved performance of current equipment, he gets into solving problems that have never been met before and how the joint venture with Trimble will add continuation to their work.

Fresh off a plane from the World AgriTech Summit and following a keynote address on food security as national security, we are recapping a gigantic March in agbioscience. From Corteva’s big news in San Francisco last week to Indiana hitting the short list for BioMADE, we cover the latest industry topics and look ahead to what’s coming. Show Notes:  Food Security as National Security Episode with U.S. Senator Todd Young: https://podcasts.apple.com/us/podcast/253-food-security-is-national-security/id1412179095?i=1000627443801 QUADRANT 7/17 registration: https://agrinovusindiana.com/quadrant/ Field Atlas: https://myfieldatlas.com/

On the ground at World AgriTech in San Francisco last week, Corteva announced the launch of a new investment platform forcused on bringing to market agricultural innovations that advance the company’s R&D priorities and drive value creation. We caught up with Tom Greene, Corteva’s Senior Director of External Investment, to talk through how the platform is designed, why it’s launching now and what it will mean for farmers in the future. Tom talks through the areas of focus for Corteva Catalyst and the types of companies that would be a great fit for the platform. Engaging in technology – no matter the stage – is the approach and he talks about the criticality of their partnership with Corteva’s larger M&A team to drive meaningful results.  Corteva enters the market with this program at a time when commodity prices are low, investment in agricultural innovation is down and so the question has to be asked – why now? Tom talks about the long-term view that Corteva Catalyst will take, the excitement of being in agbioscience (despite the volatility) and what he envisions for the program in the future.

The connection between agbioscience and human health has become undeniable and in the case of Indiana – it's a differentiator. Today we are joined by Vince Wong, the brand new CEO of BioCrossroads to talk life sciences and extending the state’s leadership to drive growth. Vince talks about the challenges facing Indiana, where we are uniquely positioned to lead and the criticality of collaboration to elevate the state’s profile. Of course we also dive into the idea of plant, animal and human life sciences coming together to create new biotechnology innovation. Vince scratches the surface on what’s possible on the heels of Indianapolis’ designation as a U.S. Federal Tech Hub.

As a kid from Ohio that went to Purdue University and then worked for DuPont, Frank Klemens’ career has taken a trendline path to his role at Big Idea Ventures today. He joins this week to walk through their General Rural Partners Fund, taking innovation from university shelves and creating new companies in one of our country’s most untapped resources: rural communities. How does Frank and his team match innovation to the right community? Frank talks customers driving outcomes, the importance of corporate partnerships and the growing list of universities partnering with the firm to create new companies. He also dives into trends in IP across food and agriculture – including cellular meats, bio-based materials and animal management – that are creating a better rural America.  Looking ahead, how do you create technical companies in rural America that also attract investment? Frank talks about Big Idea Ventures’ secret sauce, making food and ag an investment clear of confusion and their call to the rest of venture capital: come join us, we welcome your competition and it’s necessary to feed a growing world, sustainably.

From major companies to startups, one thing holds true from Amazon Web Services: they start with the customer in mind and work backwards. This week, we are joined by an agtech veteran and now the company’s Head of Worldwide Business, Agriculture, Elizabeth Fastiggi. She dives into their service across the whole value chain, how companies use AWS and the role of artificial intelligence (AI) in its stages of early adoption. Elizabeth also talks new applications and ensuring innovation is accessible. She talks Amazon’s Project Kuiper to increase global broadband access, providing service to early customers by the end of 2024 and agriculture’s opportunity to be in the midst of the early customer base.  As an environmental science major, did she ever think she’d be here? Elizabeth gets into spotting the opportunities to make a difference using innovation and how she sees the future of agtech.

Doing good by doing well – it's a concept the AgriNovus Indiana team embraced when the HungerTech Innovation Challenge was launched. Three years later, it’s still going strong; and new solutions are hitting the market that better connect food supply with food demand. The 2024 HungerTech tasks innovators with developing market-driven tech models that ensure increased and equitable food distribution that is both environmentally sustainable and economically viable. The winning team will receive $25,000 to help accelerate commercialization of their solution. Solutions could find, but are not limited to, opportunities for innovation in the following areas: Infrastructure - current critical inefficiencies exist in capturing, managing and redirecting surplus food from points of excess – such as producers and retailers – to communities grappling with food insecurity (this is exacerbated for perishable goods). Forecasting - deployment of tools for accurately forecasting the production of surplus food and quantifying demand from food-insecure populations have significant deficiencies. Preservation - there are shortfalls in current food preservation technologies to prolong shelf life of perishables without detracting nutritional value or safety. Registration to join this year’s HungerTech Innovation Challenge closes March 12. Learn more and connect with Geoff at agrinovusindiana.com/hungertech.

What exactly is the microbiome? And why is it important when it comes to animal health – both in livestock and pets? All those questions and more get answered this week as we are joined by Aaron Schacht, CEO, and Eric Bonabeau, CTO, of BiomEdit. They talk the role of artificial intelligence (AI) in microbiome science, the intersection of human and animal health and new partnerships paving the way for the acceleration of innovation. From collaborative partnerships with Nutreco and funding from The Bill and Melinda Gates Foundation, what’s ahead for BiomEdit? Aaron and Eric get into new challenges, leveraging the microbiome to reduce methane emissions in cattle and taking advantage of studying things in animals that can be translated to humans.

We are bringing you something new with this episode: a look back at February’s news in agbioscience including Elanco’s sale of their aqua business, a new partnership between Corteva and John Deere, Indiana as a top ag state and the current operating environment for the farmer.   Show Notes: QUADRANT is coming 3/6. Register here: https://agrinovusindiana.com/quadrant/ HungerTech Innovation Challenge registration closes 3/12: https://agrinovusindiana.com/hungertech/ Kristen Owen, Oppenheimer + Co. Episode: https://podcasts.apple.com/us/podcast/bonus-ai-moving-from-hype-to-help/id1412179095?i=1000641950597

We are days away from guidance from the federal government on how it will calculate the carbon intensity of corn production for ethanol and how that will impact farmers, ethanol producers and the economy at large. Kevin Summers, North American Carbon Sustainability Lead for Trimble, joins us to talk about the Wild West that is the current carbon market structure and Trimble’s Connected Climate Exchange as a voice of reason platform in it all.  Originally launched in Canada, Kevin talks through CCE’s 5 million tons of ag carbon offsets, the $50 million dollars for Canadian farmers and how Trimble plans to roll this program out in the United States. From data security to education, he also talks about the challenges of carbon markets today and their potential for growers and CPG companies in the future.  In the launch of Connected Climate Exchange, what has Trimble learned? Kevin says it’s about keeping the grower first in mind, connecting sellers and buyers in the marketplace and continuing to tell the story of its measured impact on the climate.

Today’s guest is an entrepreneur who got her skills in organizing business systems where any young talent might consider learning efficiency: the Chick-fil-a drive-thru. Sarah Hinkley, CEO of Barn Owl Precision Ag, actually helped to build the fast-food chain’s drive-thru system as we know it today (alongside her brother). Watching a major company leverage technology to solve problems really inspired Sarah and from that, a company was born. Sarah gets into Barn Owl’s inception, creating new innovation to supplement a massive labor problem and listening to what growers need today, tomorrow and what would be nice in the future. She dives into how a Barn Owl robot functions and what factors are driving the need for more agility on-farm. As a serial minded entrepreneur, Sarah also provides insight into launching an idea into a business, creating solutions to problems and making a difference through your work (even when it hurts).

Ryan Priest is no stranger to hard work and servant leadership, assets that have been integral to his role as COO at Premier Ag Cooperative today. And as someone that has done many jobs – from welding to executive leadership – he identified a problem that needed a new, fresh idea to solve: developing an emerging workforce that’s equipped with the tools to understand farmers, the broader agbioscience economy and the technical knowledge required to be successful in the industry. Ag equipment today has more in common with an airplane than a pickup truck and there is an under-appreciated level of knowledge required to operate this machinery. Ryan talks about Premier’s cutting-edge work-based training program with Ivy Tech designed for workers to better understand and function in high-tech agriculture. He notes the ripple effect of talent starting in the program and learning more about the industry, and the earning potential for someone in the program. Mitch Frazier recently joined Ryan’s podcast, The High Ground, which can be heard here.

Matt Bechdol fell into a class on remote sensing during his time as a student at Indiana University and what was initially a requirement for environmental science turned into a love affair. Specifically, he fell in love with the intersection of business, agriculture, technology and the environment – close to the definition of agbioscience, right? That love took him to graduate school, an ag research gig at NASA and ultimately becoming the CEO of GRYFN in 2019. GRYFN focuses on remote sensing and spatial data to help automate business processes and bring objectivity to time-intensive, human work like plant breeding. Matt gets into the question they’re always asking: what else? From defense to oceanography, he talks about a creating a wide swath of tools to create multiple insights that solve problems across different industries. As a CEO, Matt gives us his entrepreneurial leadership lessons, too. He talks about providing clarity on your value proposition, pricing discipline, knowing what you’re good at and hitting base hits rather than home runs.  Listen to Matt’s past episode of Agbioscience here: https://podcasts.apple.com/us/podcast/episode-30-asking-new-questions-on-using-big-data-in-ag/id1412179095?i=1000433274065

Telling the real story behind agbioscience innovation and what’s happening on farms requires a willingness to bravely sit at tables where you might be misunderstood. Michelle Miller, The Farm Babe, found seats at those tables over a decade ago and has become one of the most influential voices and advocates for modern, high-tech agriculture. From The Today Show to Forbes and People Magazine, Michelle has been breaking myths about where our food comes from and helping consumers better connect to their food through her moniker – The Farm Babe. But her advocacy wasn’t always on behalf of the farmer. Michelle talks about her time on Rodeo Drive, her once belief in the misinformation surrounding agriculture and how life changes also changed her mindset. Whether it’s biotech or artificial intelligence (AI), she talks about how she’s approached those topics with consumers – hint: it starts with empathy for those who are trying to learn more.  What excites Michelle about the future of agbioscience and modern agriculture? From animal health to plant science, she talks about the future of our food and how farmers will continue to do more with less.

Ask new CEO of AgReliant Genetics about his career journey and you’ll get an interesting take from him: it’s not at all what he expected. But whether he’s been launching, fixing or changing products, systems and processes, agbioscience innovation has been the fabric of his story. This week, Brian Barker joins us to talk about making the leap into leadership of AgReliant’s longstanding reputable brands. From global turbulence to urban sprawl and a growing population, how does AgReliant view their next wave of innovation to meet the demands that evolve globally? As Brian says, that corn kernel is more like a microchip than anything else and getting everything you can out of the plant will remain their focus. From gene editing to analytic tools, the new wave has just begun.  What’s ahead for AgReliant Genetics? Brian says it starts with AgReliant’s people and doubling down on what they do best.

The Consumer Electronics Show (CES) has become synonymous with innovation and that was certainly the case in Las Vegas last week as agbioscience brands like John Deere, Kubota and more flooded the tradeshow floor. Kristen Owen, executive director of equity research at Oppenheimer and Co., joins us to talk about innovation’s ability to create impact in a tightening economy and what she sees ahead as major shifts in industry trends. One of the big ones from CES? Artificial intelligence (AI). With the cost of capital still high, AI has a chance to move from hype to help. Kristen examines where it can impact productivity in agriculture – from equipment to the bio-economy – to reduce variability for farmers’ operations. As we brace for economic turbulence, what does Kristen see ahead for the broader food and ag economy? She talks about the investment landscape that will impact the next wave of agbioscience innovation, austerity creating opportunity and the one big trend she sees for the industry in 2024.

AgroRenew’s story begins where most good ideas form: at the kitchen table. Founders Brian and Katie Southern join us to talk about a new transformation in agbioscience – unused watermelon byproduct (rinds) becoming eco-friendly bioplastics. Based in Knox County, Indiana, AgroRenew announced plans at the end of 2023 for an $83 million investment in the form of a processing facility, a business that will ultimately employ nearly 250 people. All the right factors came together to make this new company possible. Knox County is known for specialty crop production (watermelons, cantaloupe, pumpkins) and the Southerns have worked closely with The Pantheon to bring this idea to life. Brian and Katie talk about the science behind the product, their long-term vision to blend with other crop waste streams and contributing to a circular economy that generates more sustainability in the agbiosciences. So what comes next? Brian and Katie discuss their long-term objectives and potential, adding value to the farmer’s operation and the timeline of getting AgroRenew plastics in stores.