Upstream Ag Ventures

Upstream Ag Insights brought to you in Partnership with Headstorm - Week of December 22nd 2024 ◼︎◼︎◼︎ In the 51st and final Upstream Ag Insights of 2024, we dive into the following essential news and analysis for agribusiness leaders: 1. AGCO Corporation 2024 Analyst Day Highlights and Analysis | Seth Crawford Eric Hansotia 2. Pivot Bio Launches New Retail Distribution Partnerships: Does it make sense? 3. Buy vs. Build in Agronomic Software: A breakdown of considerations, including what is often overlooked in the conversation | Nathan Faleide 4. The Rise of Digital Platforms: A Reflection on Past Challenges and a Vision for the Future | Patrick Honcoop 5. Bayer and Trendlines Dissolve AgTech Fund: Will we see more challenges like this in agtech funds in 2025? 6. Sound Agriculture  Raises $25 Million 7. Upstream Ag Stats and Most Popular Articles of the Year + more, including from the likes of Dan Schultz! Wishing everyone a wonderful Christmas and Holiday Season! #agtech #agribusiness #agriculture #innovation #strategy Upstream Ag Ventures

Upstream Ag Professional Big Five Stories of the Week ◼︎◼︎◼︎ A breakdown of what agribusiness leaders will find in the 51st and final edition of Upstream Ag Insights this weekend: 1. Upstream Ag Insights Summary and Most Popular Articles of the Year 2. AGCO Corporation 2024 Analyst Day Highlights and Analysis A deep dive into AGCO's Analyst Day, including a look at their FarmerCore emphasis, e-commerce initiatives and PTx Trimble overview. 3. Pivot Bio Launches New Retail Distribution Partnership Direct to farmer is hard. In 2021 I questioned whether direct to farmer would get Pivot Bio to where they need to meet their massive valuation. A look at the announcement and what comes next. 4. Buy vs. Build in Agribusiness Software | Nathan Faleide A breakdown of considerations, including the less talked about aspects of building over buying and whether it makes sense for the average ag retailer. 5. The Rise of Digital Platforms: A Reflection on Past Challenges and a Vision for the Future | Patrick Honcoop What's driving utilization, what does an integrated experience look like for farmers and agribusiness professionals and do multi-modal LLMs present a wedge in agribusiness software streamlining the data entry challenge? Plus, a bridge round from Sound Agriculture , a look at the trend in VC firm counts decreasing, what that means for ag specific VCs and more! Become an Upstream Ag Professional member today to get all of this direct to your inbox: https://www.upstream.ag/ Wishing everyone a fantastic Christmas and Holiday Season! #agtech #agribusiness Upstream Ag Ventures

Upstream Ag Professional - Week of December 15th 2024 ◼︎◼︎◼︎ This week's essential news and analysis for agribusiness leaders includes: 1. Q3 2024 Equipment Manufacturer Earnings Highlights and Analysis | John Deere CNH AGCO Corporation Lindsay Corporation Valmont Industries, Inc.AGI - Ag Growth International Titan Machinery See just a few of the almost 30 images included in this week's equipment company breakdown! 2. Five Upstream Ag Insights from John Deere's Virtual Agronomy Summit on See & Spray Agribusiness Guide: Navigating Precision Spraying Impacts on the Crop Input Market: Including How John Deere drives engagement and customer control in their See & Spray product offering, an overview on crop injury and See & Spray benefit and much more. 3. Syngenta Group and Enko® use artificial intelligence to advance safe, sustainable weed control solutions: Does AI really streamline molecule commercialization? 4. Meristem Crop Performance Launches new HOPPER THROTTLE™ MAXSTAX™ Soybean | Rob McClelland Mitch Eviston 5. How Business Model Innovation Changed AgTech in 2024 | Tenacious Ventures Sarah Nolet J. Matthew Pryor 6. Transatlantic Business Insights: Exploring Key Business-related Differences between the U.S. and Europe | Patrick Honcoop AgTech Advisory Collective 7. Nufarm announces a new joint development agreement with bp on biomass oil technology for future bioenergy applications | Corteva Agriscience + more! Check out the link to this week's full Upstream Ag Professional edition in the first comment! #agtech #agribusiness #agriculture #strategy #innovation Upstream Ag Ventures

Upstream Ag Professional Big Three Stories of the Week ◼︎◼︎◼︎ A breakdown of what agribusiness leaders will find in this weekend's edition: 1. Q3 2024 Equipment Manufacturer Earnings, Highlights and Analysis A breakdown of what the equipment manufacturers are experiencing along with insights from company executives on Inventory and Production Cuts, their Outlook for 2025 along with Technology Updates. Image below. John Deere CNH AGCO Corporation AGI - Ag Growth International Lindsay Irrigation Valmont Industries, Inc. Titan Machinery 2. Five Insights from John Deere's Virtual Agronomy Summit on See & Spray A breakdown of the The Need for Speed and Nozzle Selection, Sensitivity Settings and Farmer Control: John Deere is Putting the “Egg” Back into the Product, a look at Field Analyzer, Maps and Display, the Quantification and Information Advantage Gained and Quantifying Crop Injury Quantified. 3. Syngenta Group and Enko® Announce a Milestone: Is AI actually helping speed up crop protection discovery, or could it actually slow things down? Plus more, including a new announcement from Meristem Crop Performance. Subscribe at the link in the first comment. #agtech #agribusiness #agriculture #strategy #innovation Upstream Ag Ventures

Q3 2024 Fertilizer Manufacturer Earnings Results Highlights and Analysis ◼︎◼︎◼︎ A breakdown of the fertilizer market dynamics through the lens of the manufacturers themselves. The breakdown includes insights into: 1. N, K, and K supply/demand dynamics and outlook 2. Trends in clean ammonia investment and 45Q credits 3. Growth in biologicals and specialty fertilizer products 4. Key takeaways from Nutrien, The Mosaic Company, CF Industries, Yara International and ICL Group first 3/4's of 2024 5. Crucial insights and quotes from company executives. and more! Check out the link to the full report in the first comment. #agtech #agribusiness #agriculture #fertilizer #strategy #innovation Upstream Ag Insights Upstream Ag Ventures

Upstream Ag Professional - Week of December 8th 2024 ◼︎◼︎◼︎ This week's essential news and analysis for agribusiness leaders includes: 1. Q3 2024 Fertilizer Manufacturer Earnings Results Highlights and Analysis (images attached) Nutrien The Mosaic Company ICL Group Yara International CF Industries 2. Companies Evolve Industries, Technologies Do Not | Upstream Ag Insights 3. CropLife 100 Unveiled: Largest Ag Retailers in the United States Nutrien Ag Solutions Helena Agri-Enterprises, LLC Simplot Grower Solutions GROWMARK, Inc. CHS Inc. GreenPoint Ag Wilbur-Ellis MFA Incorporated Keystone Cooperative 4. AgVend Unveils Nexus: Ag Retail’s Gateway to a More Connected, Dynamic Supply Chain: What does it mean for Agvend, retailers, input manufacturers and distributors? 5. AI in Agriculture: A Threat to Jobs or a Tool for Empowerment? 6. Thinking Differently To Help Biological Products Perform Better | 3BarBio Jane Fife Meristem Crop Performance 7. The truth in the rumor of inevitable startup consolidation | J. Matthew Pryor Tenacious Ventures 8. Can You Still Bank On Carbon Opportunities? | Indigo Truterra, LLC Agoro Carbon Alliance + more! Become a subscriber today at the link in the first comment! #agtech #agribusiness #agriculture #innovation #strategy Upstream Ag Ventures

Upstream Ag Professional Big Five Stories of the Week ◼︎◼︎◼︎ A breakdown of what agribusiness leaders need to know this week: 1. Q3 2024 Fertilizer Manufacturer Earnings Results Highlights and Analysis Key takeaways from Nutrien, The Mosaic Company, ICL Group, CF Industries and Yara International quarterly results and earnings calls. 2. CropLife 100 Unveiled: Largest Ag Retailers in the United States and Key Takeaways from the Report Check out the image below for the changes in this year's top 10. Nutrien Ag Solutions Helena Agri-Enterprises, LLC J.R. Simplot Company Wilbur-Ellis CHS Inc. GROWMARK, Inc. Keystone Cooperative GreenPoint Ag Agtegra Cooperative MFA Incorporated 3. AgVend Unveils Nexus: Ag Retail’s Gateway to a More Connected, Dynamic Supply Chain A breakdown of the Nexus product suite and applicability to the agriculture industry, including what we can learn from Klaviyo, value of control points and the fuelling of network effects. 4. Companies Evolve Industries, Technologies Do Not | Upstream Ag Insights The common question I get asked is "what technology is disrupting the industry?" But it's the wrong question. It’s not the technology that drives industry change. It's a company's unique integration and application of the technology, leveraging their unique insights, resources and talent to solve problems. 5. AI in Agriculture: A Threat to Jobs or a Tool for Empowerment? What we can learn from mimetic theory, the lump of labor fallacy and why there is a need to dig deeper as it pertains to how AI will impact jobs and agriculture as a whole. Plus, Thinking Differently To Help Biological Products Perform Better (3BarBio | Margy Eckelkamp), The truth in the rumor of inevitable startup consolidation from J. Matthew Pryor and more. Check out the link in the first comment to get all of this and more in your inbox this Sunday. #agtech #agribusiness #agriculture #strategy #innovation Upstream Ag Ventures

Q3 2024 Crop Protection & Seed Earnings Themes, Highlights and Analysis ◾️◾️◾️ Over the last month, I read dozens of earnings call transcripts along with quarterly crop protection and seed earnings results, working to synthesize the themes, trends and key takeaways across the crop protection manufacturers segment of the agriculture industry. Check out some of the can't miss takeaways and forecasts, along with quotes from crop protection and seed company leaders providing a fundamental understanding of what is happening across the input landscape, including: •LatAm, Pricing, Maintaining Share and Generic Pressure •Biological Growth and Differentiated Products •Software, Hardware and Digital Initiative Round up Plus, summaries and key insights from Corteva Agriscience, BASF, Syngenta Group, FMC Corporation, ADAMA Ltd., UPL, Bayer, Amvac Chemical Corp., Nufarm and Bioceres Crop Solutions. #agtech #agribusiness #agriculture Upstream Ag Insights Upstream Ag Ventures

Upstream Ag Professional Big Three Stories of the Week ◼︎◼︎◼︎ Happy Thanksgiving to all celebrating in the United Stated! This weekend's edition of Upstream Ag Professional, detailing essential agribusiness news and analysis, includes: 1. Q3 2024 Crop Protection and Seed Company Earnings Results Highlights and Analysis After diving into dozens of earnings call transcripts and quarterly reports, I’ve synthesized several major themes shaping the crop protection industry over the last quarter and the outlook for 2025, including: •$5B+ in Q3 net losses across Corteva Agriscience, UPL, and FMC Corporation, lead by a significant write-down at Bayer. •LatAm struggles with destocking, pricing pressure, and generics. •>10% growth in biologicals across most companies. •A summary of digital innovation announcements, specifically around artificial intelligence, including from Bayer, Corteva and Syngenta. Plus more from Nufarm, Bioceres Crop Solutions, Syngenta Group, and BASF. For a high level comparison, check out the image attached. 2. The Insight is the Edge: How Insights Drive Agribusiness Performance | Upstream Ag Insights In early 2024 I wrote about CNH waiting for their customer rather than leading them and stated that: World-class companies lead their customers. These companies lead their customers based on unique insights. In most industries, the businesses with the unique insights have the edge. I have broken this down further into non-ag examples, agtech examples and shared where to look for novel insights. 3. How The Mosaic Company Biosciences Is ‘Bridging the Knowledge Gap’ for Biologicals What can be learned from Mosaic to grow a biologicals business? I break down what has enabled Mosaic to grow its Bioscience business to more than 9 million acres and why they are well positioned for further growth. Plus much more, including a look at Carbon Robotics LaserWeeder stats and new commentary from Farmer's Business Network, Inc. Check out the link in the first comment to subscribe. #agtech #agribusiness #agriculture #strategy #innovation Upstream Ag Ventures

Corteva 2024 Investor Day Highlights and Analysis ◼︎◼︎◼︎ Last week, Corteva Agriscience held it's 2024 Investor Day. I took in the event and poured over the shared materials to dive into some of the most important insights, and takeaways for agribusiness professionals. Here are a few of the of the highlights: •Corteva is expecting 65% of its crop protection product sales to be “differentiated,” up from 55% last year. Differentiation supports incremental margins with the average margin differential being 10-15% higher compared to overall crop protection portfolio average. •65% of US Soybean acres had Enlist E3 Trait in 2024, up from ~55%. •Corteva biological revenue was $420 million in 2023, with 81% of that revenue from Brazil. For 2024, they expect revenues to come in at ~$500 million. •Corteva announced hybrid wheat, expecting 10-20% yield increases vs. conventional, for 2027. •Corteva emphasized biofuels, and sees more than 100 million acres of double cropping potential. Winter canola is a significant part of Corteva’s biofuel initiatives. Corteva announced an MOU with BP to develop a JV focused on crop-based biofuel feedstocks for sustainable aviation fuel. •Corteva aims to launch short stature corn by 2027 via traditional breeding methods, with a gene edited version currently going through regulatory for the future. •Announced the launch of CARL (Corteva Agronomic Resource Library), their LLM co-pilot tool for advisors, and the Pioneer channel. For a deeper dive into hybrid wheat, biologicals, digital initiatives, biofuels, AI impact on R&D, Pioneer Channel dynamics, investment initiatives and more, check out the full break down at the link in the first comment and take a look at the attached images, some created by Upstream Ag Insights and others shared at the Corteva Agriscience event. #agtech #agribusiness #agriculture #strategy #innovation Upstream Ag Ventures