St. Louis, Missouri
January 7 & 8, 2014
This is the tentative agenda for the event - check back as it is revised closer to the meeting.
|January 7, 2014||TUESDAY|
|7 a.m.||Registration begins|
|7 a.m. - 8 a.m.||Continental Breakfast|
|9-9:50 a.m.||Minimizing Environmental Impact by Optimizing Yield, and Maximizing Input Utilization: Howard Brown, Agronomy Services Manager, Growmark|
|10-10:50 a.m.||Introduction to Production Cost Accounting: Alan Grafton, Financial Consultant, Kennedy & Coe LLC|
|11-11:50 a.m.||Advance your Acre's Yield: Bob Yaklich, Market Manager; Mark Oostlander, Technical Service Manager; and Brianne Reeves, DPM, Technical Service Manager, all from BASF.|
|NOON - LUNCH||Lunch - Sponsored by DowAgrosciences Surestart|
Keynote Opener - How to Become a Peak Peformer - David Kohl
The great commodity super cycle which is now in its second decade has bestowed prosperity and wealth upon many involved in the agricultural industry. In the later stages of the cycle, professionals have observed a widening gap of profitability as the peak performing managers are garnishing more of the profit pie and wealth accumulation as others fall behind. Will this great super cycle of agriculture continue? What are the financial and best management practices and metrics necessary to evolve your business ahead of the curve and in the boundaries of sustainability and success in global competitiveness, regardless of the economic climate?
|Dr. Kohl is professor emeritus of agricultural economics at Virginia Tech University. He has conducted more than 6,000 workshops and seminars for agricultural groups including farmers, bankers, Farm Credit, and agribusiness groups, including every year of the Farm Futures Business Summit|
Panel Discussion - Best Management Practices - David Kohl moderator
In this session, the practitioners who are on the front line of everyday strategic and business decision making will discuss their best management practices and financial strategies as they navigate the unchartered waters of the unprecedented global economic cycle. Come and find out the strategies for debt, working capital, financial efficiency, and overall management practices that can be a primer for success in managing your business.
|Farmers: Brian Watkins, Kenton, OH – confirmed
Don Cantrell, Merna, NE - confirmed
Ty Brown, Mulberry, IN - confirmed
|3-3:30 p.m.||NETWORKING BREAK|
|3:30 p.m.||Macro-economic Policy and Managing Your Future - Michael S. Swanson
What are the borrowing risks growers will face in the coming decade? And how will global factors influence money availability, interest rates and more.
|Dr. Swanson is an Ag economist and consultant for Wells Fargo, the largest commercial agricultural lender in the United States. Based in Minneapolis, his responsibilities include analyzing the impact of energy on agriculture, forecasting for key agricultural commodities, and develop credit and risk strategies for customers.|
2014 Outlook: The Market Ahead - Bryce Knorr
The January USDA reports kick off the New Year with key data that may set the stage for another year of turbulent prices. Farm Futures shares results of its latest farmer survey, with our 2013 crop production forecast and updated 2014 planting intentions. Here’s what’s ahead for the market, including input costs, and the factors you need to consider for your business.
|Bryce Knorr is Senior Editor of Farm Futures magazine and has been associated with the magazine for 20 years. Knorr was the senior market analyst for CyberCrop.com, where he helped build the first online grain marketing Internet sites for farmers. In his current role, Knorr writes daily and monthly market analysis for readers and web browsers at www.FarmFutures.com. He also conducts survey research into a variety of management topics including secrets of success.|
|5:30 p.m.||Social Hour/Networking - Reception - Sponsored by John Deere|
|6:30 p.m.||Dinner - Sponsored by MachineryLink/FarmLink|
|7:30 p.m.||Debate and Discuss: The Bear Pit - Hosted by Max Armstrong
An open discussion with event speakers taking on key questions of the day from participants.
|Max Armstrong is Director of Broadcasting, Penton-Farm Progress Co. and one of the most widely recognized agriculture journalists in America. The company’s broadcast programming includes television, radio and enhanced Web content, including FarmProgressAmerica.com. He is co-founder and co-host of This Week In AgriBusiness, one of the shows on the popular RFD-TV satellite channel carried on DirecTV and DISH Network.|
|January 8, 2014||WEDNESDAY|
|6:30-8 a.m.||BUFFET BREAKFAST|
|8 a.m. - NOON||Put Your Farm on the Right Track (see the tracks below)|
|NOON||NETWORKING LUNCH - Enjoy a focused discussion of hot topics for your farm.|
The War for Talent and What it Means for 21st Century Agriculture - Greg Duerkson
Twenty-five years ago, General Motors launched the famous “This is not your father’s Oldsmobile” ad campaign, making the Olds Cutlass the top selling car in America. Today neither the Cutlass nor Oldsmobile exist, as what it takes to be successful in today’s auto market is dramatically different than a generation ago. Likewise, the skills, knowledge, experience, and personal characteristics you need in both yourself and your team is dramatically different than it was a generation ago. We’ll talk about what has changed, what hasn’t, and what you need to win the War for Talent for your farm operation.
|Greg Duerksen is president of Kincannon & Reed, an executive search firm focused exclusively on the interrelated realms of food, agribusiness, and life sciences. The firm counts among its clients many of the world’s most important companies and non-profit institutions, and has placed senior executives in all functions in all corners of the globe. Kincannon & Reed’s motto is, “We recruit leaders for organizations that feed the world and keep it healthy.”|
|2 p.m.||Safely Growing Your Businss in Turbulent Times - Mike Boehlje
Top level farms are looking for ways to expand, and market volatility is changing. What's the best approach to expansion in this climate? What are the keys to success.
|Mike Boehlje, Purdue ag economist, has taught undergraduate and graduate courses in agriculture and finance and holds extension programs in finance and strategic management with farm, finance, and agribusiness firms. He is a frequent speaker at Farm Futures Business Summit|
Don't Let the IRS Plan Your Estate - Kevin Bearley
Successful estate planning allows for the transfer of your assets to your beneficiaries quickly and with minimal tax consequences. In this session, estate planner Kevin Bearley takes you through the steps you need to make now to ensure orderly transition later. You'll learn the latest IRS rules and how to minimize taxes to pass on more assets to your family. You'll also learn how to manage conflict and avoid family and employee disputes.
|As director for Kennedy and Coe's tax research department, Kevin Bearley travels the country speaking on estate tax and succession planning. In addition, Kevin represents clients before the IRS and Appeals process concerning audit issues and unresolved tax conflicts within the Internal Revenue Code and its regulations. Bearley has a Bachelor of Science degree in Accounting and a Master of Business Administration degree. He received his Juris Doctor degree from Stetson University of Law and his LL.M and MA degrees in Tax from the University of Denver Law School.|
CHOOSE YOUR TRACK
We've got focused breakout tracks to choose from, but feel free to 'jump the track' as needed. Tracks run Jan. 8 2014 from 8 a.m. to Noon
|Marketing & Risk Management||Financial and Business Planning||Management for Mulit-Generation Farms|
Market Survivor! Part One: Put Together A Successful Marketing Plan for 2014 – Bryce Knorr and John Otte
Having a written marketing plan is a hallmark of successful businesses. What does yours include – and what should it include? Get tips from producers and the Farm Futures marketing team, then map out your own plan for 2014 crops, including sales already on the books.
Secrets of the Go-Go farmer –Bob CravenUniversity of Minnesota Ag Economist Bob Craven has surveyed bankers on what they like and don’t like about fast growing, large scale farmers. He will also break out top 20% and bottom 20% financial characteristics of U.S. farm operators. Learn what how to be successful in the climb toward this elite group.
Real ROI on precision technology
Brian Watkins, Kenton, OH, farmer, has traced his costs and returns to technology and can give an overview to farmers on precision payback
Market Survivor! Part Two: See How Your Plan Performs – Bryce and John
Does your plan have what it takes to handle the twists and turn of unpredictable weather and markets? The second part of the program puts your plan through a simulation, from winter through summer the following year. Did you pick the right tools and price targets? Can you make mid-course corrections without making bigger mistakes? Compete with participants, prizes to the top performers.
A new look at cost analysis
Alan Grafton, with Kennedy and Coe, breaks down costs per acre, per farm, etc., and walks you through the steps needed to become a savvy financial manager for today's sophisticated farm operations
Peace of mind from income diversification - Jerry Moss
Strong profitability in grain farming in recent years is not sustainable, so how do we prepare for the leaner times ahead? Income diversification sounds formidable, but the rewards are extensive and go beyond financial security. So how do I get started? Jerry Moss is a farm manager and farm operator and regular contributor to Farm Futures.
|9:50 - 10:10 a.m.||BREAK|
Can Management Accounting Improve Risk Management?
A management accounting system can provide decision makers with vital information about costs that may improve operational, investing, and financing decisions. And, improved decision-making can enhance your ability to manage risk. Is it time to consider implementing a management accounting platform in your operation? Todd Doehring, Centrec Consulting
Management and cash flow strategies for 2014
We will consider the Top Ten strategies to consider as you make your way through 2014 with an eye on 2015. Some things are easier to ‘control’ than others. We will make the distinction and identify both short and long-term management strategies. --Dwight Raab, director, Illinois Farm Business Farm Management Association
Developing the next generation of great managers - Lori CullerTo become great managers, the next generation must focus on finance, learning, networking and become more adept at sophisticated problem-solving. Here's a five-step plan to jump start that process. Lori Culler is CEO of AgProvise.
|11:10 a.m. -NOON||
Position to SucceedSuccessful, sustainable businesses are positioned to handle tougher times, and sometimes the best opportunities to grow the business willcome during the most difficult times when others are pulling back and you can sprint ahead. How to be flexible and capture opportunities - acquiring assets at the right price, exploring new market opportunities, evaluating new technologies and being an early adopter of new ideas. Purdue ag economist Mike Boehlje
How to sharpen your financial standing through benchmarking
Do you wonder how your farm compares to others? Are you in the top 20%? This session will take a look at data rom FINBIN to provide benchmarks for your operation. Bring your iPad or tablet along, and we will take a look at the new Compare Your Farm feature on the website - Bob Craven, Ag Economist, University of Minnesota
Multigenerational farms face unique challenges. Boomers have different values than gen X or gen Y, yet two or three generations must often work side by side on today's farms. As young farmer CEOs, what are the best ways to work with other generations to accomplish your career and professional goals as you work towards senior management? Listen in as multi-gen family farms share what works and what does not in this frank panel discussion (moderated by Mike Wilson)
|NOTE: Afternoon program continues - see above.|