Blog – Sector – Agriculture Equipment and Farming – Agriculture and Farming Sector Analysis and Commentary for July 2023 - https://ts2.space/en/iot-in-agriculture-the-key-to-climate-resilient-farming/
1. Soybean Futures Jump in Overnight Trading - Soybeans surged in overnight trading ahead of today's supply and demand reports from the U.S. Department of Agriculture.
2. Winter Wheat Production Forecast Seen Slightly Higher Winter wheat output likely will be forecast modestly higher month-to-month in today's reports from USDA, according to a survey from Reuters.
3. Severe Storms Expected This Morning in Nebraska, Iowa - Severe weather is forecast much of eastern Nebraska, western Iowa, and northern Missouri this morning and is already hitting some areas, according to data from the National Weather Service.
Source - https://www.agriculture.com/3-big-things-today-july-12-2023-7559533
Additional sources and links:
Food - https://illuminem.com/illuminemvoices/how-business-innovation-can-turn-the-food-crisis-into-a-new-green-revolution
Technology and farming - https://ts2.space/en/iot-in-agriculture-the-key-to-climate-resilient-farming/
Technology and Agritask - https://www.linkedin.com/posts/paul-young-055632b_a-resilient-food-supply-chain-powered-by-activity-7084907525812191232-N5Ya?utm_source=share&utm_medium=member_desktop
Vertical farming - https://www.hortibiz.com/newsitem/news/tips/building-a-business-case-for-vertical-farming/
Commodities - https://www.bloomberg.com/markets/commodities/futures/agriculture
Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...
What is next for Agriculture Sector - July 2023.pptx
1. Agriculture Output
and Equipment
Sector - Analysis and
Commentary – July
2023
SENIOR DATA AND AI
SPECIALIST
SENIOR CUSTOMER
SUCCESS MANAGER
PAUL YOUNG CPA CGA
JULY12, 2023
2. Paul Young - Bio
• CPA, CGA
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – ESG and Sustainability Policy
Development and Reporting
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: paul_young_cga@outlook.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
3. Agenda
North American AG Equipment Sales
Commodity Prices
AG Prices – Canada
Preliminary Crop Estimates – Canada
Oilseeds
Energy Prices
Carbon Tax
Food Prices
Hospitality Sector
Farming Income
Top Farming States
Food Processors
Technology and Farming
Government and Farming
Debt
Rail Car Loading
Analytics and Reporting
Summary
8. Hospitality Sector
Hospitality sector continues to face labour shortages and high food costs
Source - https://www.slideshare.net/paulyoungcga/food-and-drinking-place-
hospitality-sector-analysis-and-commentary-june-2023pptx
10. Farm Income
Farming Income in Canada has been struggling for the past few years -
https://www150.statcan.gc.ca/n1/daily-quotidien/191126/dq191126b-eng.htm
USA farm income and aid - https://www.agriculture.com/markets/newswire/us-farm-income-expected-to-
rise-in-2019-but-only-because-of-government-aid
AG subsidies - https://www.agriculture.com/news/business/world-farm-subsidies-hit-2-billion-a-day
Net farm income, a broad measure of profits, is forecast to decrease $9.8 billion (8.1 percent) to $111.4
billion in 2021. In inflation-adjusted 2021 dollars, net farm income is forecast to decrease $12 billion (9.7
percent) in 2021 after increasing $37.8 billion (44.2 percent) in 2020 to its highest level since 2013. Despite
this decline, 2021 net farm income would be 21 percent above its 2000-19 average of $92.1 billion.
https://www.ers.usda.gov/topics/farm-economy/farm-sector-income-finances/highlights-from-the-farm-
income-forecast/
19. 2020 Farm Income Analysis
Blog - Farm Income
and Expenses - Canada.pdf
20. 2020 Farm Income Analysis
Blog - Farm Income
and Expenses - Canada.pdf
21. Top Farming States
Source - https://www.statista.com/statistics/196114/top-10-us-states-by-number-of-farms/
22. Food Processors
Source - www.fao.org or https://www.globenewswire.com/news-release/2019/09/04/1910664/0/en/Food-Processing-Market-to-Exceed-4-Trillion-
by-2024-Key-Trends-Analysis-Opportunities-to-Succeed.html
23. Plastic Greenhouses / CO2
35% of China’s vegetables come from plastic green houses -
https://www.nextbigfuture.com/2021/03/plastic-greenhouses-provide-35-of-chinas-vegetables.html
Greenhouse farming - https://gulfnews.com/uae/environment/popularity-of-greenhouse-farming-
options-on-the-rise-1.842642
South Korea - https://www.hortidaily.com/article/9306173/overview-vegetable-horticulture-in-south-
korea/
Global Market - https://www.databridgemarketresearch.com/reports/global-plastic-greenhouse-market
Ontario/Greenhouses - https://windsor.ctvnews.ca/ontario-government-investing-3-6-million-toward-
innovation-projects-in-the-greenhouse-sector-1.5285128
NZ and the Middle East - https://www.freshplaza.com/article/9307955/new-zealand-has-a-huge-tech-
opportunity-in-the-middle-east-s-growing-horticulture-industry/
24. Technology and Farming
AI is transforming farming - https://www.forbes.com/sites/cognitiveworld/2019/07/05/how-ai-is-transforming-
agriculture/#1fa34bec4ad1
AI and farming - https://customerthink.com/the-role-of-artificial-intelligence-in-agriculture-sector/
IBM and farming - https://farmtario.com/news/ibm-expands-artificial-intelligence-platform-into-agriculture/
RPA and Farming - https://blog.accubits.com/robotic-process-automation-in-agribusiness/
IBM and Expert Farming - https://www.prnewswire.com/news-releases/farmplan-using-ibm-pairs-to-predict-blackgrass-
weed-before-it-damages-crops-301151067.html
AG App - https://www.techrepublic.com/article/farming-assistant-app-agrolly-wins-ibms-call-for-code-contest/
Smart farming - https://farmingfirst.org/2020/10/transforming-agriculture-through-smart-farming-from-data-ownership-
to-open-data/
Telecom/Farming - https://ca.finance.yahoo.com/news/agriculture-analytics-market-reach-2-133100885.html
Blockchain and Food Protection - https://blog.trustbix.com/how-blockchain-can-support-food-supply-chain-management
25. Government / Farming
Elimination of trade barriers - https://www.slideshare.net/paulyoungcga/what-is-next-for-for-global-
trade-protectionism
More emphasis on local supply chain management solutions -
https://www.slideshare.net/paulyoungcga/tranformation-of-supply-chains
Tax fairness and regulatory reforms - https://www.slideshare.net/paulyoungcga/does-the-world-need-
a-wealth-tax
Government provides direct subsidies and/or loans to farmers
Government needs to revisit all their programs to ensure various programs are efficient and effective -
https://www.slideshare.net/paulyoungcga/market-food-protein-market-analysis-and-commentary or
https://www.oag-bvg.gc.ca/internet/English/parl_lpt_e_934.html or https://thetyee.ca/Opinion/2016/03/08/BC-
Carbon-Tax-Failure/
Automation can help with automation of audits - https://www.slideshare.net/paulyoungcga/internal-audit-and-
performance-base-auditing
30. Better crisis and risk Management
through use of Geospatial Data
https://www.linkedin.com/posts/rwlord_river-flood-highest-since-2001-in-miss-valley-activity-
7062395985708085249-YI2M?utm_source=share&utm_medium=member_desktop
Leverage data and AI as part mitigating geopolitical risks and threats is becoming increasing important for
both private and public sectors. The ability to leverage geospatial data with business analytical tools like
Cognos Analytics and Planning Analtyics can lead to better risk mitigation as part of safeguarding assets.
Blog – Geospatial data with Planning Analytics - https://www.linkedin.com/posts/paul-young-
055632b_geospatial-data-with-planning-analytics-activity-7062420172178915328-
l43Y?utm_source=share&utm_medium=member_desktop
31. Autonomous Finance
Autonomous finance is a data-driven or algorithm-driven process that employs software to automate
financial operations and management.
Source - https://learn.g2.com/autonomous-finance
Key Stats
Consider the following statistics:
89% of financial services leaders believe that the first financial services companies to deploy autonomous
finance will carve out a large competitive advantage.
60% of financial institutions believe that autonomous finance enhances personalisation capabilities,
which improves their customer experience (CX).
As things stand, over 50% of the following finance and accounting activities are mostly or partially
automated: processing of transactions, procurement, preparation of financial reports, and
planning/forecasts, etc.
Source - https://www.receeve.com/blog/autonomous-finance-drives-collections-success or Blog – What is
Autonomous Finance - https://www.linkedin.com/pulse/blog-what-autonomous-finance-paul-young
32. What is GAP Analysis
A gap analysis is the process that companies use to compare their current performance with their desired,
expected performance. This analysis is used to determine whether a company is meeting expectations and
using its resources effectively.
A gap analysis is how a company can recognize its current state—by measuring time, capital, Revenue,
operational, planning, ESG, and HR planning—and compare it with its target state. By defining and analyzing
these gaps, the management team can create an action plan to move the organization forward and fill in the
performance gaps.
Source - https://www.investopedia.com/terms/g/gap-analysis.asp
Additional Link - https://www.slideshare.net/paulyoungcga/how-gap-analysis-can-better-support-business-
decisions
33. What is cost to Serve Modeling
As more businesses have come to understand the customer-driven side of the supply chain, a new framework has
emerged to answer questions about how the cost of sales, services, and last-mile logistics affect the bottom line.
This new way of thinking about profitability in the supply chain is commonly known as cost to serve.
https://www.coupa.com/blog/supply-chain/cost-serve-framework-for-profitability-and-customer-excellence
Key to cost to server modeling
1. Understanding business drivers
2. Strong data governance and management structure
3. Establish key metrics and targets.
4. Revamping business processes as part of overall cost planning and control
5. Revamping sales process including managing of price changes, contract pricing, etc.
The cost to serve model can be used for either the public and private sectors as part of overall managing of the
fiscal cycle including revenue, costs, capital, ESG, and human resources management.
Additional links: https://www.slideshare.net/paulyoungcga/profitability-and-costing-solutions-office-of-finance-
and-cfo
34. The importance of Revenue and
Operational Planning
Blog – The importance of Sales and Operational Planning
Integrating sales and operations planning (S&OP) into an enterprise-wide process creates a robust picture for
executive decision-making. It ties together demand, supply, and financial planning as part of a company’s master
planning. Sales and operations planning is essential to the supply chain because it creates a view for future operations
and holds people accountable for data that impacts your bottom line.
Beginning with projected demand, S&OP looks at available resources and operational performance to understand the
landscape when making financial decisions. The process involves strategic and tactical plans.
Source - https://www.coupa.com/blog/supply-chain/what-sales-and-operations-planning-sop-and-how-it-can-benefit-your-
business
Five reasons why Sales and Operational Planning is important:
1. Balances Supply and Demand.
2. Cross-functional involvement.
3. No Surprises.
4. One set of Numbers.
5. Key Business Communication Tool.
35. Summary
Farmers continue face issues with input costs
Improving crop and food production is a focus area by both the private and public sectors
Blog – Sector – Agriculture Equipment and Farming – Agriculture and Farming Sector Analysis and
Commentary for July 2023 - https://ts2.space/en/iot-in-agriculture-the-key-to-climate-resilient-farming/
1. Soybean Futures Jump in Overnight Trading - Soybeans surged in overnight trading ahead of today's
supply and demand reports from the U.S. Department of Agriculture.
2. Winter Wheat Production Forecast Seen Slightly Higher Winter wheat output likely will be forecast
modestly higher month-to-month in today's reports from USDA, according to a survey from Reuters.
3. Severe Storms Expected This Morning in Nebraska, Iowa - Severe weather is forecast much of eastern
Nebraska, western Iowa, and northern Missouri this morning and is already hitting some areas,
according to data from the National Weather Service.
Source - https://www.agriculture.com/3-big-things-today-july-12-2023-7559533
Additional sources and links:
Food - https://illuminem.com/illuminemvoices/how-business-innovation-can-turn-the-food-crisis-into-a-
new-green-revolution
T
echnology and farming - https://ts2.space/en/iot-in-agriculture-the-key-to-climate-resilient-farming/
T
echnology and Agritask - https://www.linkedin.com/posts/paul-young-055632b_a-resilient-food-supply-
chain-powered-by-activity-7084907525812191232-
N5Ya?utm_source=share&utm_medium=member_desktop
Vertical farming - https://www.hortibiz.com/newsitem/news/tips/building-a-business-case-for-vertical-
farming/
Commodities - https://www.bloomberg.com/markets/commodities/futures/agriculture
2023-12-07_Labor
and Inflation_USA and Canada.pdf
US-Month-Ag-Report
-6-2023.pdf
CAN-Month-Ag-Repo
rt-6-2023.pdf
2023-12-07_Farming
and AG - 3 Big things.pdf
ESG and Farming.pdf 2023-12-07_Iot and
Farming - Expeert.pdf
Vertical Farming.pdf 2023-12-07.pdf Commodities -
AG.pdf