Starbucks baristas strike, Guinness is running dry in UK pubs, and Congress clears resolution delivering aid to farmers. NY Governor signs bills resuming marijuana farmers markets and classifying cannabis as an ag product, growing grapes in the high desert, and the US gets a big win in the GMO corn dispute with Mexico.

There is a moment in every entrepreneur’s journey when they have to take a chance. They have to roll the dice, take the proverbial leap. The leap synonymizes many things for an entrepreneur. We will elaborate on those things, with a unique touch, in this week’s Agtech Action. This will be my final edition.

Food and the World:

Agriculture Industry Reacts to Mexico GM Corn Dispute Outcome

Trade Panel Rules in U.S. Favor in Mexico GM Corn Dispute Case

Bird Flu Could be ‘One Pig Away’ From ‘A Big Threat,’ Pathologists Say

Musk opposition to year-end bill throws farm aid in doubt (good! It’s full of waste that’s unrelated to a farm bill!)

Ag trade's uncertain future: Farmers scramble to find new export markets beyond China

Farmers to Get $10 Billion in Economic Assistance

CFPB Sues Walmart, Branch Messenger for Pay Practices for ‘Last-Mile’ Drivers

Canadian farmers scramble after staple crop gets devastated: 'What we're seeing now is consecutive years of loss'

The new Farm Bill extension provides some relief for Colorado producers, but leaves much unsettled

Congress delivers farmer aid for Christmas

Starbucks Barista Strike Expands on Fifth Day of Closures

Economic Loss Assistance Program Payments Passed by Congress: Here’s What Farmers Need to Know

Congress Clears Continuing Resolution, Includes $31 Billion in Farmer, Disaster Aid and Farm Bill Extension

In a Victory for U.S. Corn Growers, USMCA Panel Rules Against Mexico’s GM Corn Ban

Trump Continues to Build USDA Team, Names Stephen Vaden as Deputy Secretary

December Hogs and Pigs Report Shows Relative Restraint in Pork Industry

Ukraine, China to enhance agricultural cooperation

Hurricane Milton caused hundreds of millions in losses to Florida's agriculture industry

New York Governor Signs Bills To Resume Marijuana Farmers Markets And Classify Cannabis As Agricultural Product

What Farmers Need to Know About the Corporate Transparency Act Taking Effect Jan. 13, 2025

California continues multi-million dollar push for farm to school programs

Agtech in the News:

Mexican President Confident Congress Will Ban Planting GM Corn in 2025

Palm Oil and the Sustainable Transition: Field Notes From An Engagement Trip to Malaysia

Farmers Are Using Wool to Save Water in the Drought-Ridden West

Can Gene Editing Save Christmas Trees from Climate Change?

Eggs, coffee, chocolate, and the culture wars: Foodtech in 2024

Agrifintech acquisition illustrates growing need for climate risk assessment in agricultural finance

Phytech hopes new tie-ups will accelerate adoption of digital farming tech

New York Governor Signs Bills to Resume Marijuana Farmers Markets And Classify Cannabis As Agricultural Product

Top 5 AgTech trends for 2025: What’s next for regenerative agriculture?

ClimateAi builds ‘adaptation playbook’ via long-range forecasting: ‘I think we’ll be profitable by Q3 or Q4 of next year’

Indonesia’s B40 Biodiesel Program to Reshape Global Palm Oil Market

More Soyoil to be Used Domestically in Brazil

Fun:

3 Festive Christmas Treats

Coloring Christmas Trees Before Harvest

Minnesota Farmland with Wind Turbines Sells for $12,000 per Acre (the land is valuable, the turbines are worthless)

American Agriculture History Minute: Land-Grant Universities Continue to be Added

The Best of ‘Can Their Problem Be Solved?’

Unverferth Debuts Its Largest Grain Cart Yet

Dairy Farmer Becomes Lifesaving Hero by Donating Both His Liver and Kidney

How This 29-Year-Old Farmer is Calculating His Costs on Every Acre in Real-Time

The Gift of Giving: Oklahoma 4-H Member Starts Toy Drive That Now Gives Out 13,000 Toys Each Year

Helpful Resources:

Q3 2024 Emerging Tech Indicator

Look Out for This Language in Your Farm Equipment Purchase Agreement

2025 US Venture Capital Outlook

How to choose a domain name that drives business success

IRS Says Crypto Staking is Taxable

Avoiding Frozen Livestock Tanks

How to Build a Winter Watering Shed to Prevent Freezing

Snow and Ice Affect Grazing

H2 2024 VC Tech Survey: Investor Insights on AI, Dealmaking, and Fundraising

Interesting Reads:

Avian flu surge in poultry sends egg prices upward

Growing Grapes in the High Desert

Is It a Good Idea to Use Paid-off Land as Collateral to Purchase Land?

How to Know When to Call It Your Last Harvest

Thirsty Skies, Arid Lands

Farmers no longer feeling Farm Bill anguish, but relief might be fleeting

US DOE offers $100M to align solar, wildlife, agriculture

The Unsung Architect of Startup Success

‘It’s Hell for the Fish’: The US Has a Billion-Dollar Plan to Halt a Carp Invasion

Senegal makes history by leading regulatory development in Francophone Africa

The strange future of lab-grown meat (does it have a future?!)

‘The dead zone is real’: why US farmers are embracing wildflowers

Will Santa Bring a Price Rally for Christmas This Year?

How Trump could bring fish farms to the Gulf of Mexico

Trump migrant deportations could threaten states’ agricultural economies

10 Understated Things Economists Say Could Impact Agriculture in the New Year

N.Y.C. Grocery Prices Are High. Could City-Owned Stores Help?

How Raw Milk Went from Hippie to MAGA America’s hottest new drink is unpasteurized.

What to do if immigration agents come to your jobsite

This urban farm is helping change the game for food insecurity in Muskegon

‘It is a crisis’: N.J. cranberry farms struggle amid worst drought they’ve ever seen

Guinness is running dry in U.K. pubs. Is a social media challenge to blame?

NCGA says U.S. got a big win in GMO corn dispute with Mexico

Agriculture oriented measures included with legislation signed to keep Federal Government funded through mid-March

JISEA and Colorado State University Plant Seeds of Sustainable Agriculture Through New Collaboration

Finance:

Sticking points in the AI boom

Kempen’s SDG Farmland Fund could double in next three years

Navigating Material Climate Risks in the Global Equities Market

SP Ventures reaches first closing mark of its third fund

Year in Review 2024: AFF20 reveals the biggest fundraisers

Voice of the Asset Owner Survey 2024 Quantitative Analysis – Morningstar

Year in Review 2024: Forestry for all

M&A outlook signals firming US deal market activity in 2025

These VCs are delivering the most deals for supply chain tech

5 firms secured over half of EMEA’s €114B buyout fundraising record

Year in Review 2024: Discerning capital looks to nature-based solutions

Funds-of-funds swallow their worst year in fundraising in a decade and a half

Q4 2024 PitchBook Analyst Note: Numbers Mean Nothing Without Benchmarking

Voice of the Asset Owner Survey 2024 Qualitative Insights – Morningstar

Theme of the Agtech Week: Leap

The leap is a pivotal moment in an entrepreneur’s journey. It’s pivotal for several reasons:

1. It symbolizes a significant change in trajectory. This is a change in trajectory for the business and the entrepreneur.

2. An irreversible action. Things won’t be the same from this point forward.

3. Risk and reward. There’s a potential upside to taking the leap but there are no guarantees, making it very risky.

The leap is symbolic for many things, including:

1. A launch of the venture, technology or product.

2. Winning of new, or critical business or partner.

3. Investment in infrastructure, resources, personnel, etc.

4. A key decision, such as issuing equity for a new partner or investor, sale of assets, change of business strategy or model, and so on.

5. Exit of the business, founder or other critical staff.

The leap is unavoidable. At some point, we have to take the leap as entrepreneurs. There is a tacit assumption in entrepreneurship that we must learn, evolve. ‘We must grow or die’. In order to grow, we must leap.

That time has come for me. This will be my final Agtech Action. It has been an honor writing this newsletter for you all the past 5 years. I’ve thoroughly enjoyed writing about agtech, startups, technology and entrepreneurship. I’ve enjoyed getting to know all of you and preparing this newsletter every week. I have read all of your comments and emails, and appreciate being a part of your Friday evening. Thank you from the bottom of my heart for the support and engagement.

Please continue to support The Yield Lab Institute, this newsletter and its work supporting agtech.

I will continue to write about agtech here on Substack at a later time. But I will be focusing my energy on my own entrepreneurial journey. I remain committed to supporting agtech and its entrepreneurs so please stay in touch if you would like me to support you.

Until next time. Thanks for reading.

BD

Brandon Day is the Chief Operating Officer of The Yield Lab Institute, the global agtech think-tank, ecosystem builder, non-profit arm of The Yield Lab global network of venture capital funds. The views, opinions and commentary expressed are solely those of Brandon Day.

Grubhub to pay fine for harmful practices against diners, DeSantis protects FL farms from development, and CA declares bird flu emergency. Walmart employees now wear body cameras, animals as chemical factories, and Bayer and Trendlines dissolve agtech fund.

Knowing our limitations is a powerful personal exercise—this is also true for agtech. How can agtech move forward without understanding its limitations? We’ll give this a try in this week’s newsletter.

Food and the World:

A Larger Dairy Herd May Limit Future Price Rallies

How to Estimate Cattle Rate of Gain

Farm Groups Demand Ag Aid Despite Congressional Impasse

Raising Herefords in Hereford: Views from the Farm

Vilsack Says Rollins Has Key Asset — Trump’s Ear

Craig Wins First-Round Vote for House Democratic Ag Leader

Pipeline Opponents Receive Cease and Desist Letters from Summit

Second Recall of Raw Milk in California Because of Bird Flu

Grubhub to pay $25M in FTC settlement over harmful practices against diners, workers

DeSantis Approves Millions to Protect 62,000 Acres of Florida Farms from Development

Craig wins seat to lead Dems on House Agriculture Committee

Year-End Package Has $10B in Economic Relief for Agriculture

Agriculture Industry Reacts to Angie Craig’s Nomination as House Ag Ranking Member

In Win for Biofuels, Stopgap Spending Bill Allows Year-Round Sales of E15 Gas Nationwide

Arizona sues Saudi-owned company over groundwater use

House proposes funding measure that includes 1-year farm bill extension

Federal Funding Bill Collapses, Putting Ag Aid at Risk (let’s put a hold on all this funding for the time being!)

Trump and Vance Oppose Funding Bill That Includes Farm Aid

House Defeats Trump-Backed Government Funding Bill

Calif. declares bird flu emergency

Iowa Soybean Partners with State for Water Quality Efforts

Inflation reading slowest since May

Trump Endorses New Spending Plan in Congress That Suspends Debt Limit for Two Years

Two Thirds of Large Crop Farms Use Precision Agriculture Technology, Says Report

Agtech in the News:

New study shows incredible results of pairing solar panels with agriculture: 'We were able to get more from the land' (let’s check back in a few years and see the productivity of the land)

Syngenta Crop Protection and AI-Partner Enko Achieve Milestone Toward Sustainable Weed Control

Agtech seedlings: Plenty closes flagship indoor lettuce farm in California

Top 5 AgTech trends for 2025: What’s next for regenerative agriculture?

Land use in tropical regions: Biodiversity loss due to agricultural trade three times higher than thought

Can Silicon Valley Save These Chicks?

How AgTech is Integrated into College Curriculums

eFishery appoints new CEO amid embezzlement investigation

Beware shiny object syndrome… What went wrong for carbon marketplace Nori?

AI-based weather insurance stands to lower farmer premiums 37%, say scientists

Sound Agriculture gets $25M to expand its synthetic fertilizer replacements

CDC confirms first severe human case of H5N1 bird flu

Egg proteins… in potatoes? Molecular farming startup PoLoPo makes the case

Final text of defense spending bill raises alarm bells for DJI ag spray drone distributors

Boehringer Ingelheim recognizes Wisconsin dairy farmer

Inside the Good Meat Project’s mission to change meat consumption

What’s in the stocking for agriculture investors in 2025?

States Resist Agricultural Labor Protections While Relying on Temporary Workers

Walmart employees are now wearing body cameras in some stores

Festive agrifoodtech vox pop part 1: From robotics to biologics, what are founders most excited about as we head into 2025?

Deere announces new U.S. initiatives after year of significant layoffs

Skytree Acquires Direct Air Capture Startup ReCarbn To Solidify Technological Dominance

ADAMA’s Novel Active Ingredient Feralla® Receives Positive EFSA Assessment

Intelligent Growth Solutions & Empire State Greenhouses Announce Carbon-Negative “GigaFarm” in New York

USDA Allocates $116M to Expand Fertilizer Production in Nine States

Why misinformation about a cow fed additive prompted people to throw milk away

Cargill to cut 5% of global workforce

Ripple’s new stablecoin for payments will be available to trade Tuesday

Agtech seedlings: First US egg producer adopts technology to avoid killing male chicks

What’s holding back low-carbon rice adoption?

Overheard at World Agri-Tech Dubai – talking points for the sector to ponder

New Culture: We can deliver ‘fully functional’ animal-free mozzarella with 50% less casein than dairy

Israeli agricultural companies present tech at Michigan farm expo

Vytelle Ranked Number 392 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500

Boehringer Ingelheim launches VETMEDIN® Solution (pimobendan oral solution), first oral solution approved by the FDA for congestive heart failure in dogs

NestFresh Welcomes the First In-Ovo Sexed Flock in the U.S., Marking a Historic Milestone in Animal Welfare

Regen ag: Data puts the economic benefit at $250bn over a decade (but there’s a catch)

Fun:

From Cars and Coca-Cola to Antique Tractors: The Trotter Family’s Winding Road

Invasive ‘murder hornets’ eradicated in the U.S., officials say

Grow Your Own Christmas Trees

A Year in the Life of a Christmas Tree Farmer

The Most Interesting Iron of 2024

Bedtime Reading with Christmas Trees

A Different Kind of Farm

Bringing Oyster Farming Into the 21st Century

Why Pet Owners Abandon Raw Meat-Based Diets and The Role of Expert Formulators

Colorado ranchers suspect theft as nearly 200 calves disappear

Helpful Resources:

2025 EMEA Private Capital Outlook

Private capital predictions report: 2025 edition

2025 Allocator Solutions: Private Market Opportunities

2025 US Venture Capital Outlook

Stocks of recent tech IPOs surge at pace not seen since 2021

2025 US Private Equity Outlook

Interesting Reads:

Democrats offer $10B in ag market relief as parties spar over farm bill extension

Wrapping up before the holiday

From 2% GDP Savings to 40% Water Reduction: Estonia's Agri-Tech Impact on the GCC

Chinese tech transforming Thai agriculture

Danforth Center partners to improve production of beneficial fungi for agriculture

California declares state of emergency due to H5N1 in dairy cattle

How AgTech is Integrated into College Curriculums (we need more of this)

The strange future of lab-grown meat (there is no future for mutant meat)

Animals as chemical factories

What Ohio's data-center boom means for the state's farming communities

Beer rules pro sports. Liquor brands like Grey Goose and Diageo want in

USDA mandates testing of the nation’s milk supply for bird flu

How saliva changes the flavor of food

From field to farm: the US pro athletes trying their hand at agriculture

A 12-Year-Old’s Journey into the World of Ozempic

Illinois reports first HPAI case of 2024

Drinkable Mayonnaise Is Now a Thing

Perspective: Rejecting GE technology is detrimental to the world’s hungry

The Pendulum Theory

Kamata: A Place for Dumplings in a Laundromat

New obesity shot drags Novo shares

Starbucks workers to strike

Farmers Urge Congress to Provide Certainty to Rural America

Livestock producers urged to prepare for disease outbreak

How can trade war with Mexico, Canada hurt US protein sectors?

Rounds Urges Ag Secretary to Avoid Reopening U.S.-Mexico Cattle Trade Due to Detected Disease

Paying Pennies to Disabled Farmworkers May Be on Its Way Out

With Tyme joining the select club, we're updating our overview of how Africa's unicorns came to life; and ask the question: Who could be Next?

Bamboo has acquired a U.S. broker-dealer license

Ceva officially launches its latest innovation for poultry broiler production - Ceva Genesys

NY’s first dairy farm biochar kiln advances green agriculture

APHIS adds 7 new states to milk testing strategy

Finance:

Big Names in Climate, Tech, and Investing Back Terradot’s Global Plan to Scale CO₂ Removal

Investment is second only to politics for climate impact – Morrison’s James Shaw

Mondelēz International’s VC Arm Joins in Fundraising Round for Israeli Cocoa Tech Startup

Trendlines Group and Bayer to Dissolve Agtech Fund

AMERRA’s founders take ownership of firm

Swiss Agtech Startup Cerve Secures £3.5M to Digitize the Global Food Supply Chain

Lessons Learned from 10 Years of Investing in Food & Agriculture, Oceans, and Energy

Four Growers Secures $9M in Series A Round for AI-Powered Crop Harvesting Robots

Agtech’s long M&A drought may be lifting — Dealspeak North America

Investment is second only to politics for climate impact – Morrison’s James Shaw

Lithuanian agtech startup Freya Cultivation Systems raises funding for aeroframe system development

Artesian and Hort Innovation launch A$60M horticulture fund

Theme of the Agtech Week: Limitations

We all have limitations. I know what I can do, and I know what I cannot. I know what I will do, and I know what I will not do. Should we do this for agtech? Yes we should and there are reasons, including:

1. Sets the parameters. This is important for technology-market-customer fit. We cannot be everything to everyone, nor do you want to be.

2. Points us in a direction. We know where we are going if we define what we can and cannot do. We know where to sell if we establish what we are selling.

3. Gives us focus. The agtech world is littered with distractions, and startups that chased those distractions. Time is not a luxury agtech has so we must value it.

There are a few caveats about limitations:

1. They are dynamic not static. What you cannot do now does not mean you cannot do it in the future.

2. If you don’t set them, they will be set for you. Can’t define what your agtech does? Somebody will do that for you. Who are you selling it to? That will be dictated to you if you don’t dictate it for yourself.

3. Gives us a goal. Not only do limitations give us a direction, but they also give us a goal to strive for. Does your agtech not fit the farm gate yet? But does it serve ag retail? Solve the ag retail riddle and then you solve the farmer riddle.

‘Agtech is not scaling!’ ‘Farmers do not want to buy agtech!’ ‘When are we going to see a notable agtech success?’ I hear and read comments like this lately about agtech. These are limiting beliefs and the thing with limitations is that they set agtech back. Entrepreneurs have a unique opportunity to turn that around. And I will be here to support it.

‘All limitations are self-imposed.’ - Oliver Wendell Holmes

Thanks for reading.

BD

Brandon Day is the Chief Operating Officer of The Yield Lab Institute, the global agtech think-tank, ecosystem builder, non-profit arm of The Yield Lab global network of venture capital funds. The views, opinions and commentary expressed are solely those of Brandon Day.

Deere lays off more employees, federal judge blocks business ownership reporting requirement, and ultra-processed food from industrial waste. Butterball shuts down Arkansas plant, CA recalls raw milk and cream from Raw Farm, and can dirt clean the climate?

A less often used tactic in agtech is a joint venture. Agtech tends to build on its own but I recommend a joint venture. There are reasons why we don’t see it enough in agtech and why we should. We’ll delve into that in this week’s newsletter.

Food and the World:

Ag trade's uncertain future: Exports offer economic impact far beyond the farm gate

Judge blocks business ownership reporting requirement (Good!)

80 Iowa Acres Sell for $19,000 per Acre

John Deere Adds 112 More Iowa Layoffs

USDA Orders Testing Nationwide for Bird Flu Virus in Milk Fresh from the Cow

Brazil’s Farmers Are Plowing Over an Ancient Amazon Civilization

Farmers Push for Accountability During Contentious Illinois Farm Bureau Meeting

Equipment Sales Falter as Farm Income Slows, Tariffs a Concern, Say Regional Feds

Federal Judge Halts Enforcement of Corporate Transparency Act

USDA Reduces U.S. Corn Ending Stocks More Than Expected

Equipment Oversupply Means Deals on Nearly Any Machine Your Farm Might Need

Quick Hits: AFBF’s Duvall Measured in Illinois Farm Bureau Comments

Agriculture Industry Reacts to Proposal to List Monarch Butterfly as Threatened Species

With Trump, Oil Refiners ‘Will Be Back in the Driver’s Seat’ on RFS, Says Analyst

Nearly All U.S. Farms Are Family Farms, USDA Says

Minnesota PUC Grants Long-Awaited Permit for Carbon Capture Pipeline

Agtech in the News:

Making climate smart ag profitable

Palm oil giant GAR on why Silicon Valley can’t solve all of ag’s tech needs - Watch

Bayer and Silal advance their innovation partnership in the UAE

AgriRobot set to accelerate safety software after funding

Spreading Rock Dust on Your Crops — for the Planet

Two Thirds of Large Crop Farms Use Precision Agriculture Technology, Says Report

Summit CO2 Injection Wells Up for Approval but Court Appeal Already in the Works

Playing Farmer

Why is Arla’s Bovaer trial stirring controversy in the UK?

Wall Street’s climate conundrum

‘A pivotal moment in the egg industry…’ NestFresh celebrates first hatch of in-ovo sexed chicks in the US

The Founder Journey: Thriving Amidst Challenges

As Ocean Waters Warm, a Race to Breed Heat-Resistant Coral

Fun:

IH’s Innovative 2+2: A Success Despite the Rumors

Christmas Goodies

Helpful Resources:

Q3 2024 Global Private Market Fundraising Report

How to Start Transitioning Grain Marketing to the Next Generation

Q4 2024 PitchBook Analyst Note: Does Slow and Steady Win the Race?

Q3 2024 Foodtech Report

Building America’s Infrastructure: How Private Equity Improves Local Communities

Q4 2024 PitchBook Analyst Note: GP-Led Secondaries

Q4 2024 PitchBook Analyst Note: Climate Tech Software

Q3 2024 US PE Middle Market Report

Interesting Reads:

Game wardens process wild game and donate it to Vermonters in need through state-run program

Data Dive: Hawaii Has the Oldest Farmers in The U.S.

USDA Funds Developing a Network to Advance Genetic Research in Agricultural Animals

How will US immigration policy changes impact meat industry?

Butterball closing Arkansas further processing plant

California recalls all raw milk, cream from Raw Farm due to H5N1

Bacteria reduce pig farm methane emissions

Plankton are the backbone of the ocean – and may struggle with what’s coming

Older Adults Do Not Benefit from Moderate Drinking, Large Study Finds

Can dirt clean the climate?

Sales of Raw Farms’ products suspended amid bird flu concerns

The Highlight Reel

Slow food

How Honeycrisp Apples Went From Marvel to Mediocre

How we created ultra-processed food from industrial waste – video

Recreating an Ancient Roman Dinner of Death

Finance:

Cocoa-Tech Company Celleste Bio Closes $4.5M Seed Round to Scale Production of Cell Cultured Cocoa

PitchBook VC Dealmaking Indicator

Agtech’s long M&A drought may be lifting — Dealspeak North America

‘LPs could have natural capital buckets in five years’ – IWC

Chasing investors is a waste of your time!

How Japan’s giant public pension is turning to impact investing

6 charts: Japan’s VC market recovery

Nature markets hold their breath as Trump waits in the wings

9 VC firms collected half of all money raised by US funds in 2024

ANREV: Negative returns continue for Australian farmland

Briefing: Privium FM and Impact Orange partner for biodiversity fund

Theme of the Agtech Week: Joint Venture

Agtech attracts the ambitious, motivated and eager entrepreneur. They build their tech, and their team, and their product. This often happens in a silo, with the team insulated from outside forces. This is an approach that lends itself to building fast but not necessarily scaling fast. Sometimes a partner is needed. I argue agtech needs more joint ventures.

Why don’t we see more joint ventures in agtech?

1. Agriculture is quite consolidated. Therefore power, and value, lays in the hands of a few.

2. Technology is usually a singles sport, agtech included. We tend to think we have our own way, a ‘secret sauce’.

3. Emotions. We are governed by them, and often fear rules the day. We fear what we don’t know, what we can’t control and another partner adds a variable.

But this should not deter us from seeking out joint venture. There are advantages including:

1. De-risk. Agtech is risky enough doing it on your own. Why not bring in another partner to de-risk?

2. Access. Often the missing ingredient in agtech is access (to markets, customers, technology, resources, etc.). A joint venture can bring in that missing link.

3. Multiplier Effect. This is an economic term that refers to the proportional effect an activity (withdrawal or injection) has on final income. A joint venture can have a similar effect on agtech. It can multiply users, adoption, engagement, customers, sales, EBITDA, and so on.

The lone wolf tale is an alluring one. There is something sexy about going your own way and doing it ‘my way’. But what the Sinatra song fails to mention is that ‘my way’ is a long, hard and strenuous road. I recommend doing it ‘our way’.

Thanks for reading.

BD

Brandon Day is the Chief Operating Officer of The Yield Lab Institute, the global agtech think-tank, ecosystem builder, non-profit arm of The Yield Lab global network of venture capital funds. The views, opinions and commentary expressed are solely those of Brandon Day.

ADM sees challenges ahead in 2025, USDA announces federal order to test milk for the bird flu, and Oatly loses legal dispute over ‘milk’ trademark. JBS to build meatpacking plant in Nigeria, a Dutch suburb where they grow their own food, and are lab-grown meats a luxury product?

Entrepreneurs play a delicate game of push and pull. Sometimes they initiate the push, often it is initiated upon them. The best, and most successful, entrepreneurs in agtech know how to be a force of [insert adjective]. But this is not imposing yourself. There is so much more to it and we’ll explore how in this week’s newsletter.

Food and the World:

House Panel Advances Drought Bailout for Farmers Around Ohio

‘Tariff Man’ Trump Picks Trade Hawk to Run USTR

GOP Governors Urge Reauthorization of Farm Bill, Call 2018 Bill ‘Outdated’

The Value of a Dollar Is Influencing the Value of Commodities

Brazil Braces for Bumper Soy Crop and Large Export Season, Consultancies Say

EU bans products made with forced labor: what it means for your company

Strong Livestock Revenue Slows Decline in U.S. Farm Income

Judge Overturns USDA Rule on Genetically Engineered Plants

A ‘Trump Bump’ on the Farm, With a Dollop of Trade War Anxiety

ADM sees challenges continuing into 2025, focus on cost controls

Cargill to lay off thousands of workers amid falling commodity prices

What Farmers Need to Know Before the December WASDE Report

Fears of Estate Tax Exemption Boogeyman Subside; Other Monsters Still Lurk

Negotiate Before Applying Tariffs, Farm Bureau Says

Cameras With AI Alert Farmers to Pregnant Cows About to Give Birth

U.S. beef herd has stabilized, but heifer retention hasn't begun

Smithfield Foods reduces hog footprint in deal with Murphy Family Ventures

Over $25 Million Allocated to Iowa Projects Through USDA Funding

Argentina Wheat Harvest Could Rise on Better-Than-Expected Yields

Agriculture Should Expect a Return to Tough Trade Tactics in Trump’s Next Term

USDA Announces New Federal Order, Begins National Milk Testing Strategy to Address H5N1 in Dairy Herds

Agtech in the News:

Making waves – why aquaculture is outperforming

‘You have to find your own recipe’: Dutch suburb where residents must grow food on at least half of their property

Oatly Loses Legal Dispute Against Dairy UK Over ‘Milk’ Trademark

This startup is using AI to ‘supercharge’ crop breeding. It could help protect farmers from the climate crisis

Kubota All-Terrain Robot Wins Award for Off-Roading Ag Capabilities

AI and improved crop protection proving essential for future harvest volume

Cultivating Tomorrow: AgTech Leader Speaks About Understanding the Changing Needs of Farmers for New Revenue Streams

Podcast: Rebuilding a cattle herd with a productivity focus

‘Pick low-hanging fruits’: Three key opportunities that can unlock Asia’s agrifood potential

The Africa Asia Dairy Genetic Gains project launches mobile app to track dairy animal performance

Africa Update: 32 ventures raised $180M in November, as the year nearly comes to an end

Caszyme discusses how CRISPR solutions can drive advancements in agriculture

UAE: Small country, big plans

Confusing a user with a beneficiary in the messy middle

JBS eyes Africa growth with $2.5 billion meatpacking investment

Fun:

A Farm Favorite: 100-Plus Years of Ford Truck History

7 Ag-Related Books Perfect for Gifting

Spreading farming expertise clip by clip

Interesting Iron-Approved Gifts for Tractor Nerds

Leader Model D: Little Tractor, Big Lesson

Chief Tractor Kid? John Deere Saddles Up with Young Farmer Jackson Laux

Helpful Resources:

Make tough calls for fertilizer program in ’25

Q4 2024 PitchBook Analyst Note: Quarterly Fintech M&A Review: Tracking Big Bank M&A

Q4 2024 PitchBook Analyst Note: Evolving Economics of 10-Year VC Funds

Interesting Reads:

Where Is Farmland Going?

Building a better banana

The hidden life of seeds

Costco Has a Magazine and It’s Thriving

Cracking the recipe for perfect plant-based eggs

Unknown disease kills 143 in southwest Congo, local authorities say

Is the Future of Lab-Grown Meat in Luxury Products?

Climate change is spoiling food faster, making hundreds of millions of people sick around the world

The purpose of the food system is to ____.

Meet Superblack Wood

Can a Wearable Sensor Save Farmworkers from Heat Injuries?

The Supply Chain for Witches

The Great Grocery Squeeze

Can a Wearable Sensor Save Farmworkers From Heat Injuries?

Is There a Case for Gatekeeping?

The Island Where Environmentalism Implodes

The Mad Cheese Scientists Fighting to Save the Dairy Industry

Finance:

Farmland buy-and-lease with a twist

PE mega-funds make a comeback

Heirloom Secures $150M Amid Busy Year For Carbon Capture Funding

Biodiversity startup Darwin secures €1.5M for nature data analysis

2024 DACH Private Capital Breakdown

Four Growers Secures $9M in Series A Round for AI-Powered Crop Harvesting Robots

Scottish Biotech Biotangents Secures £2.3M, Looks to Revolutionize Dairy Farming

Lactoferrin startup TurtleTree raising $15M pre-Series B

Toesca AM and Astarte launch $350M regenerative ag fund

Q3 2024 Global Private Market Fundraising Report

Farmland investing suffers from no shortage of creativity

Campbell Global acquires 40k-acre timberland asset

MAM takes majority stake in Australia’s Fresh Produce Group

Q4 2024 PitchBook Analyst Note: Does Slow and Steady Win the Race?

Theme of the Agtech Week: Force of

Entrepreneurs are a forceful bunch by nature. We cannot help but want to change things, especially if we see, and others validate, that there is a better way. I’ve worked with many agtech entrepreneurs and startups and I’ve noticed a few things about them. The most successful ones are a force of one, or more, of the following:

1. Technology. Some technology is too impactful to ignore. But this alone does not ensure success, and I’ve witnessed it too many times.

2. Business. The efficiency, speed and distribution through which agtech completes transactions and business can be a force. If agtech spits out EBITDA with efficiency, it’s going to work!

3. Value. I am referring to value that is not just taken and redistributed to a few, but created, shared and monetized for more in the value chain. Expanding the pie rather than sectioning off the pie.

And there are a few x-factors that pop-up,

1. Force of will. You would be surprised how being stubborn and unwilling to give up can yield success. Agtech very much included.

2. Force of personality. We see it in the startup world broadly. A charismatic and charming founder finds the right message and gets the notable accolades. But there are noteworthy downsides (e.g. Theranos, WeWork’s Neumann, many on Forbes 30 for 30).

3. Force of timing. Timing is everything and I have many examples in agtech. Where a founder happened to stay in the game long enough to see his potential market develop, or funding come through, or a new customer signs up. Entrepreneurs need luck as much as skill.

4. Force of good. A feel good story of solving an important problem in food and agriculture is surprisingly effective. It garners a lot of attention, some wanted and some unwanted. This is agtech and ultimately we need to drive profit. Do not forget that!

There are many more to this list that I have missed. The thing with agtech is that it needs a driver, a catalyst. Like in physics, objects at rest need force to get in motion. But after that, something, and someone, else needs to propel it forward. Force equals mass multiplied by acceleration.

Thanks for reading.

BD

Brandon Day is the Chief Operating Officer of The Yield Lab Institute, the global agtech think-tank, ecosystem builder, non-profit arm of The Yield Lab global network of venture capital funds. The views, opinions and commentary expressed are solely those of Brandon Day.

Gro Intelligence’s IP acquired by another startup, incoming Secretary of Agriculture is picked, and Paine Schwartz acquires a supplement provider. Debates about impending trade wars heat up, PepsiCo to add more chips to address ‘shrinkflation’ criticism, and bats as crop protection.

Experience is the foundation of a successful entrepreneur. It is the barometer through which all entrepreneurs, and their teams, are judged upon. Agtech needs knowledge, technology and, I argue most glaringly, experience to succeed. We will describe and quantify what experience agtech needs in this week’s newsletter.

Food and the World:

Trump’s Expected USDA Secretary Pick: Former Senator and Business Leader Kelly Loeffler

Argentina’s Soy Planting Reaches Full Speed, First Plants Show Good Condition

Trump to Nominate Brooke Rollins of Texas as USDA Secretary

Agriculture Industry Reacts to Nomination of Brooke Rollins as Secretary of Agriculture

Iowa Supreme Court Upholds Land Survey Abilities of Pipeline Companies in Summit Case (more overreach by this pipeline company, when will this end?)

California Finds Bird Flu Virus in Raw Milk

Winter Wheat Condition Surges Again in Final Crop Progress Report of 2024

Trump’s reelection and its potential impact on global agriculture and seafood markets

3 Corn Pricing Strategies to Consider

Corn Harvest Wraps Up in Top 3 States as USDA Crop Progress Reports End

Voracious U.S. Demand Means Biggest Food and Ag Trade Deficit Ever

CoBank analyzes impact of tariffs on Canada, Mexico on groceries

Global beef quarterly Q4 2024: Navigating declining global production, uncertainty in 2025

Craig shakes up race to lead House Agriculture Democrats

Agtech in the News:

U.S. Farm Groups Want Trump to Spare Their Workers from Deportation

XPRIZE ‘Feed the next billion’ finalists learn there is no $10m grand prize: ‘It feels dishonest’ (read your legal agreements!)

‘Picking up where Gro left off’: Almanac acquires Gro Intelligence’s IP

Mismatch or meant to be? Is VC the best fit for agtech? (we’ve discussed this in past newsletters)

Forged Gras: Vow Becomes First Company to Launch Cultivated Meat in Hong Kong

Technology and Farming Practices Expected to Outpace Lost Acres

UK reports decade-low levels of antibiotic sales, resistance on farms

Report Outlines Potential for U.S. Agriculture to Be Greenhouse Gas Negative

Biosecurity in swine production: Impact on animal and gut health

Meet the start-up helping farmers make (and sell) their own biochar

Riceland, Hill’s Pet Nutrition announce sustainably grown rice collaboration

AI enables cameras to put ‘new eyes’ on your cows

Carbon markets: A COP-out or a step forward? (I don’t see COP making an impact)

How buoyant are global compound feed and agtech sectors?

Regen ag: ‘If 70% of farmers did it, we would end the climate crisis’

IFPA to address supply chain of the future starting with December meeting

Bats Save Billions In Agriculture Costs As Technology Helps Save Them

Regrow Ranked Number 110 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500

Why Distraction Is the Most Overlooked Issue for Agtech Companies Struggling with Global Expansion

Fun:

The Once-Great Tractor Innovator Lost to Time

Commentary: Why Doesn’t NYC Have an Agriculture Show?

Riding the baddest bulls made him a legend. Then one broke his neck

Ben & Jerry’s Vs. Unilever Is the End of Corporate Do-Gooderism

The Bogus Burger Blame

Hong Kong follows US to propose crypto tax breaks

Helpful Resources:

Q4 2024 PitchBook Analyst Note: Top US PE-Backed IPO Candidates and Outlook

Grain Carts Hold Their Value

Q3 2024 Clean Energy Report

Interesting Reads:

In Texas, advocates want to ban certain foods from schools

They’re Paid Billions to Root Out Child Labor in the U.S. Why Do They Fail?

Get To Know Brooke Rollins, Nominee for Agriculture Secretary

PepsiCo to add more chips to some Tostitos, Ruffles bags after 'shrinkflation' criticism

We Are Living in a Golden Age of Apples

The weird uncle of the animal protein family

Are food recalls and outbreaks on the rise? FDA says U.S. food supply still "one of the safest in the world"

Farming Small in Big Farm Country

Was Agriculture the Worst Mistake in the History of the Human Race? (feeding people is a mistake?)

The Antlers Tell the Story

Montana Rancher, Divided Country

Recycled Carbon Dioxide May Be the Key to Bountiful Rooftop Farms

Kansas animal health commissioner says H5N1 vaccine getting closer

Safaricom to launch second money market fund

U.S. Farmers Are Struggling. They Will Lose More in a Trade War, This Ag Expert Says

Podcast: Private label growth is primed to accelerate in the US

Finance:

Hort Innovation and VC Artesian will plough $60 million into startups with a new agtech fund

Four Growers, a Turtle Creek-based agtech startup, raises $9M to keep picking tomatoes, cucumbers with robots

Farmland buy-and-lease meets infrastructure

INVL nears midpoint of increased €200M Fund II target

Paine Schwartz acquires supplement provider

Source Agriculture Corp. Makes Strategic Investment in Ascribe Bioscience To Advance Sustainable Crop Protection Solutions (congrats to The Yield Lab N. America portfolio co. Ascribe!)

Centuria’s agriculture AUM rises by 21% in FY24

Kapsera raises €4.2M to deploy its first industrial units

AI-Powered Protein Engineering Heightened by Cradle Bio's $73M Series B

Theme of the Agtech Week: Experience

We know it when we see it—experience. It is that thing that we wish we had when we are younger and we wish we had more opportunities to deploy it when we are older. Agtech is challenging enough so you need to equip yourself with every tool at your disposal. Experience is the most valuable tool that agtech has. Why? Let’s double click on that:

1. It is hard to quantify but we know it when we observe it. We often measure experience by years but that does not do it justice. Types of roles, companies you’ve worked at or built, the number of people managed, products built and launched, those are a few ways we measure experience.

2. All experience is valuable experience. Launched an agtech startup? A product at a multinational? Very valuable experience? Did it fail, or succeed? We often punish the former and reward the latter. I argue the former is FAR more valuable experience.

3. Experiences are unique. We have our own experiences and therefore surrounding yourself with a diverse team is critical for that reason alone. Building agtech is all about getting as many data points as you can to make informed decisions. Experiences are those data points.

4. Lessons are universal. Experience is unique but the lessons are universal. Blow through your raised capital? Lesson is to watch your P&L. Experience is the best teacher and the lessons are common throughout people and history.

5. Time is not the only measure of experience. Yes, experience comes with time. But wisdom can be gained from others, events, and moments. Generate as many of those as possible.

If I were to look at all of the agtech startups that I have either worked or crossed paths with, the experience factor is a common trait that delineates those that succeed and those that do not.

And the thing about experience is that no matter how much you read and study it, you cannot replace the emotions, the decisions and lessons learned from it. A book, a case study or a paper cannot duplicate the experience. Grey hairs are a badge of honor, if you let them be.

Thanks for reading.

BD

Brandon Day is the Chief Operating Officer of The Yield Lab Institute, the global agtech think-tank, ecosystem builder, non-profit arm of The Yield Lab global network of venture capital funds. The views, opinions and commentary expressed are solely those of Brandon Day.