April 15, 2021

Precision Agriculture and Technology

by: Michael Langemeier and Michael Boehlje

Precision agriculture utilizes biotechnology and nutritional technology; monitoring, measuring, and information technology; and process control technology to increase resource efficiency, reduce input cost, and/or improve product value.  This series of articles will discuss precision agricultural technologies, potential payoffs of using these technologies, and the capabilities and skills that will be needed to manage these technologies.

ARTICLES WITHIN PUBLICATION:

Importance of New Technologies for Crop Farming

March 5, 2021

Adoption of technology has been important to production agriculture for decades. Through the adoption of technology and improved managerial practices, aggregate agricultural U.S. farm output in the United States tripled from 1948 to 2017 with almost no corresponding increase in aggregate input (USDA-ERS, 2021). For reasons explained below, the adoption of technology in production agriculture…

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Information Technology and Value Creation

March 12, 2021

The use of information technology systems or digital technology has evolved through a number of stages over the last two to three decades. During the 1990s, it was recognized that more accurate and timely data could be used to make better decisions.

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The Role of Information in Today’s Uncertain Business Climate

March 18, 2021

The increasing role that knowledge and information play in obtaining control of resources, increasing profits, and reducing risk in farming is occurring for two fundamental reasons. The first reason is the dramatic growth in knowledge and information of the chemical, biological, and physical processes involved in agricultural production.

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Adoption of Precision Agriculture Technologies

March 26, 2021

This article discussed the adoption of precision agriculture technologies. Adoption rates have been very high during the last ten years, and given the increased venture capital devoted to developing these technologies is likely to continue at an accelerated pace.

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Potential Payoffs of Precision Farming

April 2, 2021

This article discussed the possible payoffs for the agricultural producer, for the value chain, and for the
environment associated with the further adoption of precision agriculture. As we develop technologies
and tools to expand the toolkit for precision farming and digitization systems and platforms to enhance
farmer’s profit margins as well as create value for the value chain and society as a whole, the farming
sector will be increasingly transformed from “growing stuff” to biological manufacturing.

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Automation and Robotics in Production Agriculture

April 9, 2021

This article discussed trends in automation and robotics in the general economy, and provided examples
of using these technologies in production agriculture. Possible benefits of the adoption of automation and robotics will include reductions in costs, improvements in productivity, increases in the production of value-added products, reduced downtime and improved capacity utilization, and reductions in operating risk.

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What Will Be the Capabilities and Skills Needed to Manage the Farm of the Future?

April 15, 2021

A recent article discussed a number of automation and precision agriculture technologies that will be increasingly used in production agriculture. The adoption and use of these technologies will require additional expertise and skills of managers and the workforce on the farm in the future. This article explores the capabilities and skills that may be needed…

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The Role of Technology in Improving Farm Profitability | Commodity Classic 2025

March 12, 2025

Each year, numerous emerging technologies claim to boost your production, reduce input usage, or streamline your farm’s operations. However, the effectiveness of these technologies varies across different farms. Purdue ag economists James Mintert, Michael Langemeier, and Chad Fiechter examined how technology affects long-term farm growth and profitability, and share insights from farm financial records and farmer surveys during their 2025 Commodity Classic Learning Center Session on March 4, 2025. Watch the recording now!

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Benchmarking Labor Efficiency and Productivity

February 6, 2025

Labor costs are one of the most prevalent costs on a farm. As such, farm managers need to evaluate whether they are utilizing labor efficiently and productively. One way to evaluate this issue is to use benchmarks created using data from similar farms. Labor benchmarks should include family and operator labor as well as hired labor.

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Crop Budget Spreadsheet

November 12, 2024

This spreadsheet can be used along with the Purdue Crop Cost & Return Guide to examine gross revenue, costs, and earnings for crop enterprises.  The user can evaluate up to three full-season crops, and the wheat double-crop soybean system. Updated February 2025.

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UPCOMING EVENTS

We are taking a short break, but please plan to join us at one of our future programs that is a little farther in the future.

(Part 1) 2024 Indiana Farmland Values & Market Trends

September 11, 2024

Interested in the latest trends and insights on U.S. & Indiana farmland values? This AgCast episode shares insights from the Farm Sector Balance Sheet, USDA data collection methods, regional variations in land values, and the influences of factors such as interest rates and development pressures on farmland prices. Gain an in-depth understanding of trends, market dynamics, and future expectations for farmland values.

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August 2024 PAER issue: Farmland Prices Increase Despite Downward Pressure

August 9, 2024

Indiana farmland prices have continued the trend of record highs in 2024, according to the latest Purdue Farmland Value and Cash Rent Survey. The average price of top-quality farmland reached $14,392 per acre, a 4.8% increase from June 2023. Average and poor-quality farmland also saw gains, with prices increasing 3.7% and 4.4% to $11,630 and $9,071 per acre, respectively.

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Comparing Net Returns for Alternative Leasing Arrangements

August 7, 2024

Obtaining control of land through leasing has a long history in the United States. Leases on agricultural land are strongly influenced by local custom and tradition. However, in most areas, landowners and operators can choose from several types of lease arrangements. Flexible cash lease arrangements provide a base cash rent plus a bonus which typically represents a share of gross revenue in excess of a certain base value or threshold.

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