Farm Credit awarded a total of $100,000 to beginning farmers through the Farmers on the Rise Award Program on December 7, 2023. Ian Antons of Frederick County, VA is one of ten recipients.

Ian began farming in 2019, and owns 15 acres where he produces American heirloom hops for local breweries using no-till farming practices. Ian oversees all aspects of the farm's management, from cultivation to business development. His experiences as a combat veteran and a professional firefighter have contributed to a work ethic and resolve that have proven to be useful in agriculture. Through extensive research and networking, as well as trial and error, Ian has learned the intricacies of hop cultivation, how to manage soil health, prevent pest and disease issues, and select varietals.

His short-term goals are to increase hop cone yield through farming technique optimization, nutrient management, and enhanced plant health. He also aims to expand his partnerships with nearby breweries with a goal of serving a broader regional market and to offer consumer education through workshops and tours. Long term, Ian plans to expand the farm's footprint and venture into value-added products such as on-site hop palletization, which would reduce reliance on other regional farms. He is seeking funds to purchase a hop harvesting machine, which would allow him to move away from manually harvesting his crop, thereby greatly increasing efficiency and optimizing labor resources.

You can meet all of the 2023 award winners here, and learn more about their farming experience on our blog!

Farm Credit recently announced the ten recipients of their 2023 Farmers on the Rise program, awarding a total of $100,000 to beginning farmers in their territory. The following agriculturalists received this year’s honor: 

• Ian Antons, Winchester VA
• Bradley and Kacie Bachman, Jonestown, PA
• Megan Bogle, Downingtown, PA 
• Jarrod and Becky Burall, Mt. Airy, MD
• Tyler and Katie Fraser, New Bethlehem, PA
• Jennifer and Richard Hartlieb Jr., Robesonia, PA
• Julie Henninger, Gardners, PA
• Duy Pham, Princess Anne, MD
• Henry Spies V, Preston, MD
• Eric and Elizabeth Ziegler, Lebanon, PA

“We were pleased to receive over 74 applications this year, from agricultural producers located across our 100 county footprint,” says Tom Truitt, CEO of Horizon Farm Credit. “The applicants’ backgrounds, farms, products, and plans for growth were highly diverse, however, three themes were consistent throughout: a desire to serve their local communities, a passion for farming, and a commitment to environmental stewardship.”  He went on to say, “All of this year’s applicants were truly impressive. We are honored to support this year’s Farmers on the Rise recipients as they look to grow their businesses and expand their local impact.”

Pennsylvania Agriculture Secretary Russell Redding was on hand to address the program’s finalists, congratulate this year’s honorees, and to provide perspective on the future of agriculture.  “Beginning farmer programs feed the continued vitality of our farming communities,” he said. “Through programs like Farmers on the Rise, Horizon Farm Credit is sending a strong signal – we believe in the future of agriculture, and we believe investing in our farmers will cultivate a robust and dynamic agricultural sector that is empowered to thrive.

The contest was open to applicants with at least three but no more than 10 years of farming experience. To learn more about the program, visit farmersontherise.com. 

Horizon Farm Credit has announced its 2023 third quarter financial results. Net accruing loan volume for the first nine months of 2023 was $6.4 billion, an increase of 9.3 percent compared to the same 2022 period. Net interest income for the third quarter of 2023 was $42.3 million, a 1.2 percent decrease from the same time period in 2022. Net income for the quarter was $29.2 million, a 15.9 percent decrease compared to the third quarter of 2022. The unfavorable impact of the 2023 third quarter results is principally related to a provision for allowance for credit losses recorded and increased operating expenses in the third quarter of 2023. 

Nonaccrual loans decreased $1.7 million in the third quarter of 2023 to $30.8 million, compared to $32.5 million at December 31, 2022, and decreased $4.9 million compared to $35.7 million at September 30, 2022. The Association’s nonaccrual loans as a percentage of total loans decreased to 0.48 percent at the end of the third quarter of 2023 compared to 0.54 percent at the end of 2022, and 0.60 percent at the end of the third quarter of 2022.

“We continue to be pleased by our Association’s financial performance and hold a highly positive outlook, as we approach year-end,” said Tom Truitt, Chief Executive Officer. “Our Board of Directors and management team remains committed to ensuring that our cooperative is well positioned to serve the present and future needs of agriculture and rural communities,” he continued.  “The sustained strong performance of our Association enables us to fulfill that important mission.”

Members’ equity at September 30, 2023 totaled $1.2 billion, up 4.0 percent from December 31, 2022. Total Capital Ratio was 16.21 percent as compared with the 10.5 percent minimum mandated by the Farm Credit Administration (FCA), the Association’s independent regulator. The Association paid a cash patronage distribution of $91 million to its member-borrowers in the first quarter of 2023.

Farm Credit has announced that registration for Ag Biz Masters, the nationally recognized learning series for young and beginning farmers, is open now through December 15, 2023.

“Farmers are, by nature, lifelong learners,” says Tom Truitt, CEO of Horizon Farm Credit. “We’re pleased to support agricultural producers, not only with financing, grants, and awards, but also through educational opportunities, including our Ag Biz Masters program, which will benefit those seeking to break into the industry or expand their business knowledge.”

The two-year educational program is available to young, beginning, and small producers who are interested in refining their business management, financial, and marketing skills to help them as they launch or grow their businesses.

Ag Biz Masters blends virtual live and on-demand learning. The year one curriculum focuses on trends in agriculture, strategic business planning, financial management, and constructing both a balance sheet and income statement. Year two includes learning modules centered on understanding lending decisions, growth and transition management, personal financial management, and leadership skills.

“To date, we’ve had 730 students graduate from our Ag Biz Masters program,” says Johanna Rohrer, Horizon Farm Credit’s Member Education and YBS Program Manager. “Agriculture is a constantly changing industry, and we encourage all producers to take advantage of this opportunity to develop their business skills, just as they continue to advance their farming practices.”

The next Ag Biz Masters class begins in January 2024 and will run through April. The registration fee is $225, with full reimbursement available to those who successfully complete their registered year and live within the Horizon Farm Credit service area.

For more information about the Ag Biz Masters educational program, please visit agbizmasters.com, or  contact Johanna Rohrer at 888.339.3334 or learning@horizonfc.com. 

Joe Waddell, Director of Market Innovation, Horizon Farm Credit

What are biologicals in agriculture?

Biologicals, in an agricultural context, are products that are derived from living organisms to enhance crop growth, soil health and pest control. When discussing soil biologicals, we are taking precision agriculture to the next level by getting out the microscopes and delving into the makeup of the soil profile itself. 
 

Is farming with biologicals a new concept?

While agricultural biologicals is not necessarily a new topic, it has seen renewed interest as U.S. farmers continue to push efficiency barriers across the ag landscape.  This pursuit has led many to seek a better understanding of the relationships between the microbial activity in the soil profile and the plants growing within it. The biological space is beginning to open another door of opportunity, as they have the potential to drive efficiency, reduce use of synthetic chemistry and fertilizer, while also maintaining healthy soil profile and contributing to long term sustainability.

The data surrounding biologicals in agriculture

Data and field trials around agricultural biologicals have historically been hard to compile due to the living nature of the subject matter. Microorganisms can be easily affected by the climate around them. Too warm and they don’t survive well; too cold and they go dormant. The application window can be key to the success or failure of the selected treatment. 

Historically there hasn’t been very robust data science backing up this space, but with the renewed interest and large number of investments being made, and some of the larger crop sciences companies investing in biologicals by dedicating a portfolio position to them, the data analytics side is starting to show some life. Some recent announcements include the newly formed Mosaic Biosciences which will be dedicated to bringing biological technologies to market, Syngenta Biologicals which brings together Valagro and its in-house biologicals business, and Corteva’s acquisition of Symborg and Stoller to bolster its position in the space. Agriculture biologicals are beginning to cement themselves as a core business area going forward.  Several other independent companies have been making a name for themselves in the space as well. A couple to note would be: Pivot Bio with its nitrogen-fixing bacteria, and Sound with its flagship product SOURCE which works with the plants to “awaken the soil microbes” utilizing nutrients in the soil profile that aren’t readily available to the plants. 

Farming biologicals and sustainability

With the excitement around biologicals in agriculture, there has been a bit of frenzy to enter the space.  The discussion around sustainability may be one reason the market has gained traction over the past few years. While the synthetic portion of crop protection is heavily regulated, the biological space has a lower barrier to entry.  Currently, no proof of efficacy is required, which presents both opportunities and challenges.  The number of products available and the claimed benefits may make it difficult for farmers to sort through and evaluate the options and consider what effect the products may have on the broader ecosystem.  As with any innovative product, there is risk associated with their use. 

Getting started with agricultural biologicals

The key to successfully navigating this space is to have a have a broad understanding of soil heath profiles on one’s own farm. Obtaining and understanding base measurements are key. Those who do not have a true understanding of their soil’s current condition cannot accurately assess the benefit of any practice or product being added to the system. 

Having access to better soil nutrient profile tests, including soil biologics, would significantly improve the understanding of this space. When looking at soil test results, it is important to understand the details.  For example, nutrient stratification is often overlooked when assessing current soil health. There is work being done with companies like Biome Makers who are working to build out a database of microorganisms through proprietary DNA sequencing.  They have built out a suite of tools to help trace biologics in the soil profile with, BECROP test, BECROP trials, and BECROP Rate. 

Summary
Synthetic chemistry and fertilizers are not going away any time soon. They are the current standard that has helped pave the way for the efficiency that the U.S. ag market has been able to achieve. A door is opening, however, for the partnership between synthetics and biologicals to work hand-in-hand.  Together, they could take agronomic efficiency to the next level while also producing long-term sustainability. Knowledge of how biologicals are used for farming is important to understanding the larger agronomic picture.  Careful consideration of how they affect the whole ecosystem, not just the area of focus, is essential.  Further due diligence is needed to really understand the overall impact this space will have on agriculture the in the coming years. Long-term field trials with third party verification will be key to defining the efficacy of biologicals. 

We’ll be keeping an eye on the science of agricultural biologicals and will provide updates as more is discovered. In the meantime, if you have any questions or want to talk shop, please feel free to reach out to me: jwaddell@horizonfc.com, 814.573.8341, Joe Waddell | LinkedIn