CoBank

This past Friday ended my summer internship with CoBank at one of their regional banking centers in Louisville, KY, as a Credit/Finance intern and it could not have been a better experience! I worked specifically in the Regional Agribusiness group (RABG) and my primary responsibilities included underwriting credit renewals for five of CoBank’s grain and farm supply customers with combined commitments of over $112,000,000. This position helped me better understand how credit plays an essential role in the continuity of the US agriculture industry. Stepping away from the office, at the end of my first week, I traveled to St. Louis for an East RABG meeting that provided a great introduction to CoBank, networking events, and even a Cardinals game! Later in the summer, our intern cohort of 32 interns from around the US gathered at CoBank headquarters in Denver, CO to learn more about the Farm Credit System, opportunities within CoBank, and attend a variety of career development sessions. My summer project was also a highlight of my internship where I evaluated potential effects of renewable diesel and electric semi-truck policy on CoBank’s grain and farm supply customers. Although new to me, this topic became one of interest and started some great discussions about the future of logistics within the ag sector and how policies can affect credit underwriting. Overall, this internship was a transformative experience. CoBank’s culture and mission are central to how they interact and support both associates and customers. The team in Louisville helped me to strengthen my written and verbal communication skills, improve my decision-making abilities, and gain confidence in working within a team of both analysts and relationship managers. I cannot recommend CoBank enough as a place of growth, learning, and passion for the agriculture industry.

“Where there’s water there’s a way!” Sara Dorland of Ceres Dairy Risk Management. That was one of comments from the “Economics Vitality of Our Milk Supply” panel at the 98th Annual Idaho Milk Processors Association (IMPA) Conference on August 9. Sara was offering insight to future dairy farm and dairy plant growth would take place in the United States noting that water availability will drive dairy’s growth. In the U.S., water is plentiful in the Great Lakes region and the border states east of the Rockies between the U.S. and Canada. It was an honor to moderate this panel and facilitate dialogue between the economists and an engaged audience. Additional insights: China’s dairy consumption will evolve as it adds 120 million people to the over 50 age demographic. This will cause a pivot from infant formula to adult nutrition in the dairy space. Mary Ledman of Rabobank About 5% to 10% of consumers will pay higher prices for products when it comes to climate change and ESG issues (environmental, social, and governance). The rest will purchase based on flavor, taste, value, and price. Michael Brown of International Dairy Foods Association (IDFA) Cheese exports are growing. Prior to 2019, 1 in 10 pounds of new cheese production was destined for export. That number is now 1 in 4 new pounds of cheese production goes to export markets. William Loux of U.S. Dairy Export Council and National Milk Producers Federation The U.S. has a great opportunity to grow dairy exports as Europe has lost some confidence in its future due to the continent’s climate mitigation strategies. That situation has essentially froze investments in dairy plants and dairy farms. It’s also given hesitation to the next generation of dairy farmers on succession planning. Mary Ledman At the moment, the U.S. has a unique form of supply management — it’s the movement to breed dairy cows to beef bulls. That’s taking place because of the high cost raise dairy replacements and the record market value for beef-on-dairy calves that are fetching between $600 to $1,000. Until milk prices incentive dairy farmers to make more dairy heifers, there will be a limit to milk production’s growth. Michael Brown This past year U.S. dairy farmers purchased 7.9 million units of beef semen. Just five years ago that number was under 2 million units. Presently dairy heifers 500-pounds and lower are at a 20-year low. Corey Geiger It was great to have CoBank colleagues, Amanda Durow and James Matzat at the event to discuss Idaho's growth to America’s No. 4 milk production state.

Four charitable organizations were each awarded a $5,000 “Sharing Success” grant by Cuivre River Electric Cooperative (CREC) and CoBank. The recipients of the 2024 grants are Bridge of Hope Lincoln County, Anne's Anchor, Volunteers in Medicine - STC, and Tribute To Veterans Memorial - Warrenton. Learn more about these great local organizations and the work they are doing! https://lnkd.in/gSF9pVAz

Interested in becoming a CoBank associate but not in the same location as one of our regional offices? Not a problem. CoBank offers relocation assistance for eligible new hires, based on position level and relocation needs. https://bit.ly/3umUWy5 #recruiting

Fresno State's deep ties to creating new higher education opportunities across the Central Valley were further strengthened this past year by the Jordan College's multicultural ambassador program. Agricultural students like Amy Suarez, a graduate student from Dos Palos, made 33 presentations and hosted 14 tours of the 1,000-acre campus farm for traditionally underrepresented high school students. Topics also touched on other topics like dorm life, choosing degrees and careers, and other typical questions students have about university life. These events were part of over 80 outreach efforts by Jordan College students that reached over 10,000 students this past year and were part of the larger, ag ambassador program on campus overseen by ag education faculty Dr. Sharon Freeman.  The program also sincerely thanks local financial support from AgWest Farm Credit, American AgCredit, CoBank and Fresno Madera Farm Credit since 2013 (and all part of the nationwide Farm Credit Services of America system). Read more about the California State University, Fresno programs' impact on Suarez's career path and other future students at: https://lnkd.in/g9r9wcFk

I'm thrilled to share images of NorthShore Robotics- A Non-Profit Organization summer STEAM camp held in Greensburg this summer sponsored by DEMCO. The contribution to Northshore Robotics was made in partnership with CoBank through its Sharing Success grant. CoBank’s Sharing Success match-grant helps electric cooperatives like DEMCO make contributions to organizations that are essential to rural communities’ growth and development. During the week-long camp, campers made Sumo Bots and underwater Seaperch Bots, along with flying drones. #STEAM #STEM #electriccooperatives #concernforcommunity #ruralcommunities

I'm excited to participate in this industry panel discussion next Monday at the CU Denver J.P. Morgan Center for Commodities and Energy Management research symposium. Karl Skold and I will be discussing the major changes affecting agriculture commodity markets. Be sure to attend in-person in downtown Denver or online. And - don't forget to hear my friend and colleague Jeff Johnston, CFA on Tuesday's panel discussing infrastructure, data centers and the impact on energy! #agriculture #commodity #markets CoBank

There hasn’t been a lot of good news since last week’s poor jobs report sparked the unwinding of the global carry trade (where investors borrow cheap currencies like the yen in Japan and buy higher yielding assets like stocks and bonds in the U.S.). Believe it or not, there’s some good news for commodities: The strengthening of Japan’s currency against the U.S. dollar might help U.S. #grain and #oilseed exports. From 2019 to 2024, Japan’s yen weakened 39% against the U.S. dollar while U.S. grain and oilseed exports fell 28%. While Japan’s imports last year of U.S. #corn, #wheat, #soybeans, #rice and #feed totaled only 13.7 MMT (out of a total of 190 MMTs of all U.S. grains, oilseeds and products), the correction in the USD/Yen exchange rate may bring a needed boost for U.S. exports. #agriculture #commodities #OATT CoBank

The U.S. #beef #cow inventory is the lowest in 63 years, as cow-calf operators have faced weather-damaged forage, pricey feed, and historically high #calf prices. CoBank’s Abbi Prins maps how the herd could start rebuilding: https://bit.ly/3StEuF6

Another Washington Conference is in the books! Last week, attendees from farmer co-ops all over the country traveled to Washington, DC to meet with members of Congress from their state delegations, as well as the House Ways and Means, and Senate Finance Committees to discuss the most pressing issues cooperatives and their farmer-owners are facing today, including farm bill reauthorization and the extension of the Section 199A tax provisions. After two days of running around Capitol Hill, attendees participated in over 130 meetings with lawmakers and staff, representing more than 30 states! Additionally, NCFC hosted a Congressional Briefing to educate Hill staffers on the basic history of the Section 199A tax deduction and its importance to the success of farmer cooperatives and their ability to both innovate at the farm and cooperative level and continue to support the development of their local communities. Special thanks to Kevin McGilton, Kevin Brinkley, Bob Amarel, and Rocky Weber for moderating the discussion. Riceland Foods, Inc., Plains Cotton Cooperative Association, Sunsweet Growers Inc.. A big thanks to Senators Michael Bennet from Colorado and Mike Crapo from Idaho for meeting with our group to share their insights into the legislative priorities that will dominate the remainder of the year. And as always, thank you to our speakers, both John Newton for his dynamic discussion on the Ag economy and its affect on farm policy, and Rick Klein who delved into the chaos that has characterized the 2024 Presidential election thus far, and shared his insights into what we may expect in the final 100 days of the election. Both sessions were engaging and informative and left attendees with much to take home. A final thank you to our sponsors and all attendees for making this year's conference a success! The ability to meet with lawmakers and their staff is invaluable to building on the support of the America's farmers and ranchers, and spreading the farmer co-op message. Further developing the professional relationships made last week will be vital as we work to find solutions to our biggest challenges and discover new opportunities for innovation, growth, and prosperity. Even though attendees returned home, our work, and that of farmer co-ops and their member-owners, never ends. CHS Inc., CoBank, GROWMARK, Inc., Ag Processing Inc, MFA Incorporated, Compeer Financial Alabama Farmers Cooperative, Inc. Tennessee Farmers Cooperative, MFA Oil Company, Land O'Lakes, Inc., Keystone Cooperative, WEST CENTRAL FS INC, Evergreen FS, Inc.