Farmers Risk wants to help farmers with risk management

This is Tim Hammerich of the Ag Information Network with your Farm of the Future Report.

Agtech has generally focused on trying to help farmers be more productive and efficient when it comes to their cost of production. But what about the revenue side of the business? Dakota Hoben was an employee at Granular when farmers would ask him this question, which prompted him and co-founder Eric Barnard to start Farmers Risk.

Hoben… “Farmers would come to us and they'd tell us, they'd be like, 'Hey Dakota, you guys are solving my problems helping me understand my cost of production, and that's great - helping me manage my business and run my business more efficiently. But when you gonna actually help me sell this product, right? And when you gonna help me sell my grain, do it for more, have a more disciplined risk management strategy on the selling side.' and that was something that we just weren't close to touching really at that point in time and wasn't a part of the vision.”

Farmers Risk uses software to help farmers think about risk management decisions in a more data-driven way. Hoben says he sees this as the next wave of agtech.

Hoben… “We're just finding more and more reasons it feels like, for commodity markets to be more volatile, introduce more risk to the equation, and so really it just brought us back to we need some fundamental tools that are more data heavy focused on actually helping farmers make better decisions, and then helping them actually make those better decisions.”

Learn more at FarmersRisk.ag.