Software technology company Bushel has announced a transformative update to its Bushel Farm management software (FMS): automated grain contract entry. The update is expected to improve the efficiency and transparency of the agricultural supply chain for both farmers and grain businesses.
Bushel, known for its focus on providing digital tools for the agricultural sector, is the first company to offer this automated feature in farm management software. The functionality will be accessible to farmers who conduct business with more than 2,600 grain facilities via the Bushel platform.
Bushel President, Ryan Raguse, emphasised the importance of this advancement in farming technology, stating, “On my family’s farm, I’ve seen the need to create and maintain a near real-time grain marketing plan to get a clearer picture of what decisions drive the most profits on the farm. The more we can automate that process, the better.”
Farmers stand to gain numerous benefits from this new feature, including:
1. Reduction in manual data entry: The automation allows farmers to link their Bushel Farm account to their accounts with grain buyers in the Bushel Network. Once connected, all existing and future contracts with these buyers will automatically be integrated into Bushel Farm’s new Contracts feature. This means farmers can spend less time manually entering data and more time in the field.
2. Marketing insights: The software automatically calculates a grain marketing position by crop and profitability for marketed and unprotected bushels upon contract entry, enabling more informed and confident marketing decisions.
3. Financial overview: Detailed Profit and Loss (P&L), cost of production insights, and revenue reports give farmers a more comprehensive understanding of their financial situation.
Matt Perreault, a farmer from Kankakee, Illinois, and a Bushel Farm user, expressed his appreciation for the automated feature, noting its potential to streamline processes and reduce errors, particularly during the busy fall season.
Grain businesses also stand to gain from this update. The new feature has the potential to improve grain origination and strengthen farmer relationships. Well-informed farmers are more likely to forward contract grain and submit firm offers, and the automation of grain contracts could encourage farmers to conduct business with buyers in the Bushel Network.
Mike Hainline, a grain merchandiser at AGRIServices of Brunswick, emphasized the value of this feature for fostering transparency and mutual success. He commented on how the seamless integration of tools reduces paperwork, enhances communication, and allows for quicker decision-making.
Echoing this sentiment, Bushel CEO Jake Joraanstad stated, “Our agribusiness customers frequently tell us that transparency builds trust. Improving farmers’ access to their contract information is a win-win for both agribusinesses and farmers… The efficiencies and transparencies created will create win-wins for both farmers and agribusinesses.”