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Farmanco Facts - August 2023

Contributions from our Consulting Teams include Risks in your Business, Pre-Harvest Data Checklist, AI Program ‘Octopusbot’ Deep Dive, and Brewing a Sustainable Future; Celebrating the Success of the Low Carbon Beer Project.

Farmanco Facts continues to be an excellent monthly resource for Australian farm businesses.

Subscribe to Farmanco Facts via the Farmanco Facts App (iOS devices) and our website store. Or contact our Perth office and we’ll set you up — available via electronic devices, emailed or printed.

Teaser points:

Risks in your Business

Eric Nankivell (Farm Management Consultant)

  • The term Risk Management can mean different things to different people.

  • When Management Consultants consider business risk, we tend to talk about things like equity and debt to income ratios as these types of measures give a sense of how much exposure the business has to industry shocks.

  • Remember to keep your focus in the right areas at the right times.

Based on the Farmanco client base, the last 10 years has been exceptional for building equity strength on-farm and has come from two strong driving forces. In the last five years, exceptional profitability, and land values, which have roughly doubled over the same period.


Pre-Harvest Data Checklist

Blake O’Meagher (Precision Ag Specialist)

  • Create a backup and master database for Display Setups [Property > Field > Boundary & Guidance].

  • Create a universal setup file for all implements involved in harvesting operations.

  • Minimise display input requirements in the field and improve accuracy in data capture for post-harvest processing and analysis.

  • Optimise field and guidance selection process for new or seasonal staff with pre-loaded dedicated displays for set operations.

Like a good filing system, having the correct display setup prior to harvest, especially where multiple machines are used, can help improve efficiencies both in the paddock and in post-processing analysis.


AI Program ‘Octopusbot’ Deep Dive

Mae Connelly (Grain Marketing Consultant)

  • Machine learning is being increasingly used in grain markets to assist with production and price forecasting.

  • Farmanco Marketing has invested in a subscription to Octopusbot, an innovative AI-driven software system, to help provide our clients with an advantage in the market.

  • Using the Canadian 2023/24 canola as the example, this is a deep dive into how Octopusbot generates forecasts.

Machine learning is starting to be used more widely by many within the grain industry to convert huge amounts of data into actionable insights to help better manage these risks. Farmanco Marketing has invested in the first machine learning application for grain marketing — Octopusbot.


Brewing a Sustainable Future: Celebrating the Success of the Low Carbon Beer Project

Keith Symondson (CEO) and Jo Smallacombe (Marketing Manager)

  • Farmanco worked with CBH on the Low Carbon Beer Project.

  • CBH has achieved carbon-neutral certification from the Climate Active program.

  • There's now potential to produce up to 230 million bottles of carbon-neutral beer.

  • The success of the project is not just an environmental win, equally important is the exploration of new market opportunities for growers.

In the recent 2022/23 harvest season, Farmanco worked with CBH on an initiative that promises to bring new dynamics to the agricultural sector. CBH’s focus has been to pilot the creation of a carbon-neutral malt barley supply chain.


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