Trends Farmers will Invest in Over the Next Five Years

KCoe Editorial
Technology has been empowering agriculture since machines replaced the ox and plow. Consider what GPS-guided tractors, moisture tracking sensors, plant genetics, and livestock breeding have done in just the last few decades to propel farmers and ranchers to higher production and profitability.

Now, financial technology has emerged as the latest tool to help production agriculture access new opportunities and achieve greater success. FinTech, as it’s often called, is part of the digital revolution that’s changing how the world operates. The rise of “The Internet of Things,” with expanding interconnectedness and cloud-based software, is fueling unprecedented access to data.

That revolution has set the stage for bringing financial technology to American agriculture. With this technology, businesses can seamlessly capture and integrate detailed layers of their operations, allowing them to interact with their financial and farming information in ways they couldn’t before.

Technologies farmers will invest in over the next five years

  • Farm management software
  • Precision farming tools
  • Autonomous equipment
  • Remote crop and herd monitoring
  • Carbon capture
  • Enhanced crop traceability

These challenges make it clear that farmers, ranchers, and processors face pressures on all sides. Margins continue to shrink or are at risk. Losing a couple of cents per pound to input costs or market pricing can make or break a farming season. These realities point to both challenges and opportunities for U.S. agricultural businesses. And they underscore the need for more detailed farm management data to make better decisions.