Seed Price Transparency Is Leveling the Playing Field for This Minnesota Farmer
When it comes to buying seed, knowing what a fair price is to pay for a particular seed variety is crucial to your bottom line.
All too often, however, we have found that farmers pay drastically different prices for the exact same seed variety without even realizing it.
That’s why first-generation farmer Wade Meyers has found so much value in being able to use FBN℠ Seed Finder for his seed-buying decisions.
How does Meyers use Seed Finder on his operation?
Meyers hasn’t been the primary decision-maker on the operation all that long. So for someone like him with fewer years under his belt, any insights he can gain from others and put to use is helpful.
“What I like about Seed Finder is you can compare prices and see who’s offering a better price,” explains Meyers, who grows corn and beans on roughly 2,800 acres a few hours beyond the 45th parallel in Northern Minnesota.
When he’s selecting seed to plant on his operation, Meyers visits the Seed Finder tab in his FBN account to see what prices farmers have paid for a particular hybrid or variety.
The tool leverages more than 43,500 seed invoices to provide real-world pricing information on more than 1,400 seed varieties on the market to members who contribute data.
A dataset with this sort of size and scope gives him a very clear picture of seed prices other farmers are paying.
"Seed Finder is very user-friendly and a handy, helpful tool. You can compare prices and see who's offering a better price."
- Wade Meyers, Minnesota
For example, if he’s looking at planting Pioneer® soybean variety P34T07R2, he can view the distribution of prices—including the lowest, highest and average price—paid by members who contributed invoices.
If the price he’s been quoted for the variety is more than the market average, he can use this information to either negotiate a better deal or keep shopping until he finds the right price.
That ultimately puts power back into his hands and helps him focus on return on investment. “It’s very user-friendly,” he says, “and a handy, helpful tool.”
Are you equipped for the challenges you face?
Seed Finder is just one of many data-driven solutions we’re delivering to farmers to help them reduce the cost of production, maximize the value of their crop and make confident decisions.
Download our free report, The Future of the Family Farm, to learn more about ways we’re responding to challenges in today’s ag economy to put Farmers First®.