Monsanto Reports Record Second Quarter

Cindy Zimmerman

Early spring sowing has already reaped record sales for Monsanto.

monsantoWith half the fiscal year complete, company executives reported today that the strong performance of their seeds and traits business, combined with an early start to the U.S. planting season drove a record quarter and increased the outlook for earnings this year.

“Our strong U.S. selling season and growth from Latin America during the first six months have come together to set us up for a great 2012,” said Hugh Grant, chairman, president and chief executive officer for Monsanto. “We’ve seen contributions from growth across crops and geographies, which position us well to deliver high-teens ongoing earnings growth this year. We’re also pleased growers have recognized the value of our product portfolio and given us the opportunity to earn their business.”

Net sales increased $617 million or 15 percent in the three-month comparison driven by global gains in corn and a strong selling season in the United States. Second quarter gross profit rose 17 percent to $2.7 billion compared to the prior year second quarter. For the first six months, gross profit is up 21 percent or $667 million.

While still early in the season, Monsanto expects acres of its Genuity® Roundup Ready 2 Yield® soybeans and Genuity® reduced refuge corn family to increase by more than 10 million acres each, which if realized would allow the company to reach its projections for those new products this year.

Corn, Seed, Soybean

Fast Stop General Store More than Convenience

Cindy Zimmerman

If you want to fill up with E85, get your propane tank refilled, grab some food for your llama and new Muck boots for spring field work, satisfy your sweet tooth with bulk candy, pick up some locally produced noodles and Fluffy Burgers for dinner, enjoy some Champ’s chicken for lunch, order a new garage door, and maybe bring your truck around back to the diesel pump – then the Fast Stop General Store in Effingham, Illinois is the place for you.

Operated by South Central FS, the Fast Stop General Store has something for everyone, according to store manager Bryan Dahnke. “We’ve tried to make this a destination for people, because they can get gas anywhere, they can get a candy bar anywhere, you can’t Illinois homegrown products anywhere,” Bryan told me when we stopped by the store on a GROWMARK media tour last week.

It is definitely a destination stop. Over 100 locally produced products line the front wall of the store including jellies, jams, salsa, noodles, and candles, with more in the freezer like the Matoon, Illinois trademarked Fluffy Burgers and other local meats. In the feed section you can get food for every animal from dogs and cats, to hogs and cattle, to rabbits and llamas. Along the back wall is the garage door display. “As part of South Central, we own Altamont Overhead Garage Doors, and that’s a good business for us,” Bryan said. In addition, they have grain handling and diesel truck facilities in the back of the store.

Bryan says the general store concept has worked very well for them. “From year one to year two, we increased about 30-35% in inside sales and about 30% in fuel and this year we’re still running about another 15% on fuel sales and another 35% on inside sales,” he said.

Listen to an interview with Bryan here and watch a video of the store below: Interview with Bryan Dahnke

Audio, FS System, GROWMARK, Video

Third Anniversary AgChat

Chuck Zimmerman

AgChat celebrated its third anniversary with last night’s session. I didn’t make it all the way through but it was going strong when I had to drop out. Hopefully you’ve been able to participate sometime. Judging by all the tweets things are still going strong. I am constantly amazed by the diversity of tweeters both by occupation and location. Here’s the list of questions from last night. The topic was “what’s need in SM for ag.” Our moderator was @CowArtAndMore.

  • Q1 via @mm98273 @TerraFresh What app or tool [as a farmer or rancher] do you find most useful for your daily operations (inc. SM)?
  • Q2 via @TruffleMedia Over last 3 yrs new SM channels added. Others updated. How do you feel on change?
  • Q3 via @cowartandmore How does Pinterest and other ‘picture type’ sites fit into a social media strategy?
  • Q4 via @OwyheeProduce Has the agriculture community learned how to correctly become social in terms of social media?
  • Q5 via @TruffleMedia Producer or Farmer? Profit or Earn A Living? What words do you use?
  • Q6 via @OwyheeProduce What type of content do you find most engaging in terms of agriculture through social media?
  • Q7 via @carabecca What are some of the ways agvocates are reaching their non-ag audience – hashtags, etc?
  • Q8 via @TerraFresh What has been your biggest challenge when using social media in terms of agriculture?
  • Q9 via @OwyheeProduce What are your goals to the non-agriculture community through the use of social media?
  • Q10 via @LaurenMSea @Mouseinmypocket How do we improve relating to the general public instead of other farmers?
  • Q11 Ok folks, what’s your one executable idea from this evening’s convo?
Ag Groups

ABC News Should be Held Liable

Chuck Zimmerman

Our latest ZimmPoll asked the question, “Should ABC News be Liable for Job Losses due to Lean Beef Trimmings Story?” Sixty percent of you said Yes and forty percent said No.

As Cindy has said about this issue, “Yellow journalism makes pink slime.” Couldn’t agree more. Have you read various online stories about this? Maybe worse than the terrible and slanted reporting are the comments I’ve been reading. There are really some seriously stupid people out there judging by their comments. Of course the reporting is giving them an outlet to showcase their ignorance. But the real tragedy is the impact this has had on people’s lives. This includes the ones who have lost their jobs and the consumers who will be paying more for beef.

Our new ZimmPoll is now live and asks the question, “Will we have a farm bill by end of 2012?” Hmm. Election year, budget issues, should be interesting.

ZimmPoll is sponsored by Rhea+Kaiser, a full-service advertising/public relations agency.

Beef, Food, ZimmPoll

Zimfo Bytes

Melissa Sandfort

    Zimfo Bytes

  • U.S. Farm Land Values: Boom or Bust? is the topic for the next Farm Foundation Forum on Wednesday, April 11, 2012. RSVP to julie@farmfoundation.org.
  • The U.S. Grains Council is pleased to announce the appointment of Dr. Bryan Lohmar as its new director in China.
  • The Farm Credit Administration has appointed Dr. Steve Gabriel to serve as Associate Director of the Agricultural and Economic Policy Team and as FCA’s Chief Economist.
  • America’s egg farmers are giving the Easter Bunny, and families in need, a helping hand by donating nearly 10 million fresh eggs to Feeding America 78 food banks in 40 states.
Zimfo Bytes

FeatherFest 3 a Resounding Success

Chuck Zimmerman

FeatherFest 3 was a “resounding success” according to the U.S. Poultry & Egg Association. The event was held in conjunction with the Atlanta Convention and Visitors Bureau during the International Poultry Expo and International Feed Expo week in Atlanta from January 23-27, 2012.

The competition included more than 60 restaurants creating the best poultry appetizers and entrees. Restaurants competed for the title of “Best Of” in three categories. IPE/IFE convention attendees and Atlanta food connoisseurs visited participating restaurants and cast their votes for the “Best Of” poultry inspired dishes.

The results have been calculated, and two restaurants were recognized for their culinary efforts in the three categories. They are as follows:

· Most Popular Entrée: Stuffed Chicken Breast – Ruth’s Chris Steak House
· Highest Rated Entrée: Free-Range Statler Chicken, Creamy Mashed Potatoes, Haricot Vert, and Garlic Herb Sauce – Davio’s Northern Italian Steakhouse
· Highest Rated Appetizer: Chicken Parmesan Spring Rolls with Marinara Sauce – Davio’s Northern Italian Steakhouse

In the top picture you can see (Left to right) Nancy Oswald, Ruth’s Chris Steak House Owner, Charlie Olentine, executive vice president of USPOULTRY; and Stephanie I. Tobben, public relations & marketing manager for Ruth’s Chris Steak House.

In the bottom photo you can see (Left to right) Amy Howard, Davio’s sales manager; Paul Dunn, Davio’s assistant general manager; Charlie Olentine, executive vice president of USPOULTRY; and Ellie Westman Chin, vice president of membership, corporate events & visitor services, ACVB.

The U.S. Poultry & Egg Association and Atlanta Convention and Visitors Bureau thank all of the restaurants who participated and congratulate the 2012 FeatherFest® winners!

Ag Groups, Poultry, Poultry Expo

CUTC Website Updated

Chuck Zimmerman

If you’re interested in the latest in corn technology then check out the updated Corn Utilization and Technology Conference website. The National Corn Growers Association says their is now more information on the poster session, session topics and many other areas of interest.

With a theme of “Back to the Grind,” CUTC will feature the cutting-edge technologies and new uses that continually improve and dynamically change the corn industry. By visiting the website today, potential attendees can explore this theme and make reservations at a discounted rate.

“The updated website makes learning about CUTC and registering even easier,” said NCGA Research and Business Development Action Team Chair DeVonna Zeug. “With new sessions on mycotoxin, exciting advances in technology and all of the newly added information, CUTC presents a broad range of topics to explore, so register today! It is simple, fast and, until Friday, offered at significant savings.”

Ag Groups, Corn, CUTC

Agriculture Gets Slimed

Cindy Zimmerman

By now everyone has got to be sick of hearing about the so-called “pink slime” in beef – which is actually just beef – but this terrible example of misleading media reporting can probably be called the most damaging attack on the production of food in this country to date. It has already resulted in the closing of plants and has put hundreds of people out of work. Beef Products Inc. (BPI) shut down three of its four plants last week and the latest casualty is Pennsylvania-based meat processor AFA Foods which declared bankruptcy today.

Iowa Governor Terry Branstad minced no words last week when he called the media reports about a perfectly safe product “poisonous” – and today he called for a congressional investigation into the “smear campaign” against Lean Finely Textured Beef (LFTB) – the correct term for the product that has been included to lower the fat content in ground beef for over 30 years. It is the epitome of yellow journalism, which is characterized by the use of “misleading headlines, pseudo-science, and a parade of false learning from so-called experts.”

Branstad and other governors of beef-producing states, as well as Agriculture Secretary Tom Vilack, are making a valiant effort to get the correct information out about the product. “The time for bad-mouthing and distortion is over, the time for the truth to prevail and combat this ugly situation is here,” said Governor Branstad. “This is something that will definitely hurt all of agriculture because corn and soybeans also go into what the cattle eat. So it has a ripple effect.”

Despite the fact that the governors led major national news organizations on a tour of BPI to show how the product was made and consume some on camera, the damage that the term “pink slime” has done may already be out of control. “If you called it finely textured lean beef, would we be here?” asked Kansas Gov. Sam Brownback during the media tour.

It is almost amazing how many legs this story grew after the initial report coining the term “pink slime” was aired by ABC News on March 7. We can all thank a former USDA “whistle-blower” and ABC News for job losses, higher meat costs, and less lean ground beef to contribute to more obesity – not to mention a gross new term for our vocabulary. Certainly not the first time and probably not the last that agriculture gets slimed by the media.

Get the LFTB facts at beefisbeef.com.

Beef, Media

Farm Podcasting Tool

Chuck Zimmerman

Hey farm podcasters. Here’s a new microphone you might want to consider. Apogee is now shipping the MiC.

The portable studio revolution continues…

MiC by Apogee is the most compact studio quality USB microphone available for iPad®, iPhone® and Mac. About the size of an iPhone, MiC makes it easy to capture your best take with incredible quality, anywhere your music takes you. Record any sound you can imagine, from vocals to vibraphones, acoustic to lap steel guitars, pianos to percussion and everything in between, and build a track right on your iPad with GarageBand. MiC is also the perfect companion to JAM, Apogee’s studio quality guitar input. Never before has the personal studio been so portable or so powerful. Join the recording revolution with MiC, JAM and GarageBand on iPad.

Here are some features:

PureDIGITAL connection for pristine sound quality
Studio quality cardioid condenser microphone
44.1/48 kHz, 24-bit analog-to-digital conversion
Studio quality microphone preamp with up to 40dB of gain
No configuration, just plug in and record
Control knob allows easy input level adjustment
Multicolor LED for status indication and input level monitoring
Designed for vocal and acoustic instrument recording
Also great for recording interviews, podcasts, voice overs, and audio for DSLR video
All metal construction
Extremely compact and portable
Works with GarageBand
Bus-powered by iPad, iPhone or Mac (no batteries or external power required)
Made in the U.S.A.

Equipment, Media, Podcasts

A Wall of Wine to the Winner

Chuck Zimmerman

Here’s some incentive to support the National Agri-Marketing Association’s Agribusiness Educational Foundation. How about a chance to win a wall of wine! I’ll be donating a nice chianti to the wall btw.

Join the ABEF Century Club and Get Entered to Win a Wall of Wine

The ABEF Century Club provides us, as individuals, the opportunity to contribute to this worthwhile cause. Membership in the Century Club is on an annual basis and members will be recognized on the Century Club sign in the Silent Auction area and in other conference materials. The annual membership contribution is $100.

New this year! Renew your century club membership before or during conference and be entered in a drawing to win a “Wall of Wine.” This special collection of wine was donated by members of the NAMA Executive Committee and the ABEF Operating Committee. Up to 20 bottles!

Please go to the following URL to renew your membership in the ABEF Century Club. Visit http://www.nama.org/abef/centuryclub/signup.htm.

Ag Groups, NAMA