Global agriculture: perspective, community, and eternal optimism with Anthony Lackore

Shay

Foulk: Welcome back everyone, this is Shay Foulk with the Ag View Pitch and today we have on special guest Anthony LaCour. Can you introduce yourself, Anthony?

Anthony

Lackore: Hey, afternoon Shea, pleasure to be on. It's great to be here today. As you mentioned, my name is Anthony LaCour and currently work for Corteva. I've been here about a decade now and a little bit of my background is within agronomy and sales, primarily work throughout the Corn Belt from Nebraska to Iowa and Illinois. Grew up on a farm in northern part of Iowa, and currently I lead our digital agronomy efforts globally for Corteva. And been doing that for about the last 2 years now.

Shay

Foulk: Wow, that's awesome. And as I understand, you've bounced around the Midwest, what, Nebraska, Iowa, where else have you been?

Anthony

Lackore: I spent about 5 years out in Illinois prior to moving back to Iowa. So it's been a great opportunity to work with and partner with many of our growers throughout the Midwest.

Shay

Foulk: Great. Yeah. So you got a pretty good pulse on kind of what's going on in the Midwest. And as you mentioned with your global stuff that you've been doing, have you done any travel recently?

Anthony

Lackore: So I've been over in Europe here twice so far this year, as well as Brazil a couple times. And so that's been the scope of this year, which has been, it's been a great opportunity, you know, to really have a good understanding of the agriculture within the US, but also to be humbled with the opportunity to get perspective outside of the US has been a great opportunity, both within Europe and Brazil here.

Shay

Foulk: Right. So let's talk about some of that perspective. You know, with the different regions that you're in, what are some of the challenges that you see, you know, globally, not only here in the United States, but abroad? You know, how do those different— how are those different? And then what are some of the opportunities that you see there?

Anthony

Lackore: Yeah, if I look at globally, one thing that is common no matter where you go in the world is that farmers and producers are eternal optimists. And whether you're in South America, Europe, the US, that is absolutely the resounding case. And if I think about some of the challenges, you know, it could be anything from government regulation. So you think about Europe as an example, and some of the limitations of the use of GMOs to insecticides and herbicides to— you think about down in Brazil and some of the challenges they've had with taxes and those regulations as well too. At the end of the day, every farmer I meet and talk with has that optimism and bright outlook for the future. But it's, it's amazing the impact that these different regions face. Just thinking about things that are outside of their control, but they still have to manage and work through every single day.

Shay

Foulk: Right. So not just a, not just a United States thing, the optimism runs through everywhere. And maybe, maybe sometimes to the detriment of, you know, waiting too long to make decisions and doing the right things there. But it's good to hear that the community that we know and love here is widespread.

Anthony

Lackore: And you, you almost need to have those opportunities to see that firsthand to really have that appreciation. You know, I think a lot about agronomy and what some of our focus is in the US about some of the minute details of management of, you know, how how many pounds of nitrogen are we going to apply on corn on corn versus corn on soybeans, to what's our seeding rate by hybrid or product placement. You know, we're super dialed in there. If I look over in Europe as an example, you know, you look at some parts of the world there, we're not necessarily concerned about managing that as much as we are on how do we eliminate the intellectual property issues where we have seed going on the black market and just challenges there.

That perspective has been really humbling, just seeing all those different areas of the world of really, you know, whether you're an agronomist, a producer, you know, what's most important to you every single day you wake up. You also look at some areas of the world too, they're just lucky to get home alive, thinking about, um, you know, some areas of the Middle East as an example. So amazing perspective as you think about the, uh, the good fortune that we have in the U.S.

Shay

Foulk: Yeah, you hit on it there. We're definitely very fortunate to not have to deal with a lot of those challenges and You know, as we deal with the wet season and stuff here, we've had our own challenges within getting the corn and beans in the ground, looking at any of the other crops. Talk to me a little bit about, you know, you mentioned you work with some of the seed production side of things. How has that been within Corteva? What are some of the challenges that you're facing there? Talk to me a little bit about that.

Anthony

Lackore: So if I think about this year, I immediately think back to a conversation I had with a very close producer that I worked with a couple of years ago. And when I first met him, just in conversation, he, by age, had clearly been farming 30, 40 years his entire life. And I asked him just how many years he had been farming. And he looked at me and he said, Anthony, I've been farming one year, because every year is different. And ever since he mentioned that to me, that completely stuck. And I think this year is a really good testament to that. In some areas of the country, I mean, just unprecedented challenges as you think about some of the discussion we're having around late planting or preventing planting. Some farm operations in their 50-plus-year history have never even done that.

And so within seed production, we are facing the exact same challenges that we are on the commercial side of the business. We're tasked with managing just over a million acres throughout Corteva in the U.S. alone. And so thinking about some of the decisions we need to make, it's really important because We're ultimately producing the crop that our customers are going to be planting in 2020. And so you think about that, it's really about securing the world's food and fuel supply for the upcoming year. And we've been making some really diligent decisions as it relates to product movements and everything that we can to make sure that we're successful in producing this year's crop so we can reliably supply that for our customers coming up here in 2020 as well.

Shay

Foulk: Yeah, I mean, that's a huge undertaking looking at, you know, you hit on it there a little bit, food feed and some of the global supply there. But I think what's unique, and particularly with Corteva and some of the other industry leaders out there, is at the end of the day, with these management strategies, you're basically just a large farm operation, right?

Anthony

Lackore: That's a really good way to look at it. You know, as I talk about some of my focus, I mentioned digital agronomy. And the first thing everyone asks is, well, what, what in the world is digital agronomy? And it's really the exact same agronomy that we've been doing for over the last 50 years. When you think about how do we manage fertility, how do we manage weeds, product placement, you know, it's the exact same thing we've been doing, but just with a more granular and faster way of looking at that information. So yes, in a sense, you know, on those acres we're looking at what are the optimal fertility levels that we need to be targeting for the fields we produce on. To what are the best weed management strategies or in-season crop protection management.

Basically the exact same mindset that a farmer has from getting the crop in to managing it throughout the growing season and then successfully harvesting it. Very similar mindset.

Shay

Foulk: Right, lots of decisions to be made there. Can you talk to me a little bit about not only in, in your life and the work that you do there as far as decision-making, but how does the company deal with that? What What premises do you follow?

Anthony

Lackore: You know, it's a dynamic business when you think about agriculture. And one thing that our team has really been focused on is being very nimble in decision-making. So a year like this year, we had to make some really quick decisions about product movements and things to successfully produce. And I'd say one parallel that we've used is, I'll call it the 40/70 rule. And the 40/70 rule can be applied not only in agriculture, but it could be applied to going out to dinner with your significant other. And the 40/70 rule is the premise of when you have less than 40% of the information needed to make a decision, you basically just don't have enough. You're shooting from the hip. However, if you think about decisions where you're trying to get 80, 90, 100% of the information.

Chances are, if you think back, 9 times out of 10 when you've done that, you've missed a great opportunity to be successful because you either waited too long or you just never gathered all the information. And so the premise of the 40/70 rule is you need somewhere between 40 and 70% of the information needed to make a decision. And you think about when we say we make gut decisions, well, typically what that is, is we've got 70% of the information and the rest is just gut instinct. And everyone's a little bit different. Some people are at the 40% end of the spectrum, others are at the 70, but that type of decision-making has really been beneficial as we look at our business and being able to be nimble and call the right audibles when we need to, given any given year that we're faced with.

Shay

Foulk: Right. I think having that flexibility and agility within not only a team but an organization leads to a huge amount of success. And Some of the things that producers are looking at now is, okay, we've been talking about the weather, we've been talking about getting the crops in the ground. You know, is it too wet? Do we need to take this preventative planting? So, you know, where do we go from here, right? We know where we've been. We know where we are. A lot of crops are getting in the ground right now, depending on your region. Kind of had some drier spells here and Illinois able to get some planting in here the last few days. Where do you see this going through the rest of the season? What are some agronomic decisions that we need to be looking at on a larger scale?

Anthony

Lackore: You know, if I relate back to some of the things that we're focused on, I think it really comes down to how do you, how do you be proactive and think ahead through some of those scenarios or challenges over the next 3 months? For us, as an example, on the seed corn side of the business, as we look at delayed planting, the first thing that we're thinking about is What does that mean for delayed maturation and the potential for frost risk at the end of the growing season? So, you know, we're very concerned with making sure that we have seed that germinates. And so that's a risk for us. I think, you know, from a commercial perspective, that's also a consideration, which certainly many farm operations have been making those decisions to move from later maturity, maybe corn hybrids, to earlier maturity to eliminate and reduce that risk.

And so I think really just having that mindset of what have we been exposed to now and what does that potentially mean for the future, whether it's disease potential, late harvest, any of those items, just having that 3-month forecast is really beneficial thinking about how do we manage that when that comes up tomorrow or overnight.

Shay

Foulk: Yeah, that's a great point. And you and I were talking about this a little bit offline before we started recording here. But, you know, sometimes you can do everything right, you know, you make the right fertility decisions, you get the right seed in the ground at the right time, and Mother Nature throws you a curveball, things still go wrong. How do you move past that? What's, you know, what's the next step when that happens?

Anthony

Lackore: You know, it's, it's interesting because, you know, a similar parallel as we were talking about before was the, the former Navy SEAL commander, who I was listening to that was talking a little bit about that. And he was talking about back in their training when every morning they would have the Navy SEAL team ready to go and they would need to be by the pool ready to go at 6:00 AM. And inevitably, someone would show up at 6:03, and so they would work the entire Navy SEAL team just mercilessly for the next 18 hours. There were also days where everyone was there at 5:55. They were ready to go, by the poolside, 5 minutes early. And what he would say they would do on some of those days is they would actually work them harder those days when they were early and prepared versus when they were late.

And he said the reason they do that is because in war you can do everything perfectly right and have everything go catastrophically wrong. And on the flip side, you can do everything wrong and have everything go perfectly right. And so I think that relates perfectly to, you know, as we think about every growing season, it really starts, what, October or November in the fall, thinking about what products are we going to plant, to what's our fertility program look like, what are the seeding rates, what are the management aspects. And I think as we go through that process, we always have Plan A in our mind, but Plan A can quickly become Plan B.

And I think having that mentality of that flexibility and to be able to pull the trigger on Plan B and have that preparation, I think, is the overarching theme that I think helps really set successful farm operations up through that decision-making for whatever Plan B brings.

Shay

Foulk: Right. I think there's a joke in there somewhere about farming is war, but we'll, uh, we'll step past that one for right now, for today at least. In all seriousness, and not to take take away from, you know, the sacrifices that men and women out there are making. But when you look at the challenges and the decision-making process that is involved with, you know, farming, production, and many assets of the producers' lives, the people that love and enjoy this lifestyle, there are a lot of similarities there. And to bring it full circle to the agility that we were talking about earlier, just making sure that you're making sound decisions, having the right information and kind of moving on there. So we'll kind of move towards the end here. You know, anything exciting that you're seeing kind of in the US and abroad?

Obviously you work with some, some great people and you get exposure to a lot of exciting things. You know, can you talk about some of those?

Anthony

Lackore: If I look at the, I'll take the seed production side of the business, we have been over the last 2 years really implementing some exciting technology that not only is great for what we're doing in seed production, but also has great benefit for how we can provide that to our farm customers as well too. So if I think about how we're leveraging drones as an example, being able to fly a field and within about 15 minutes get a stand count that's 100 times more broad in that exposure for that field to some of the things that we've been focused on with fertility management and understanding what are those really critical levels that we need to be dialed in at that when we want to take 220 bushel corn and move it to 250, what are the exact levers that we need to do that. So from an agronomic and digital agronomy perspective, there's some great things that we've been focused on there.

But if I also look at the Corteva business, thinking about some of the new traits and biotechnology, thinking about Chrome, which is going to be a new corn rootworm trait that we're bringing forth to the commitment in research and development. What I would say is if I look at the last 4 years, and as we as Corteva have been going through the merger between Dow and DuPont, and now that we have officially spun off as of June 1st and are an independent ag company, the last 90 years we have been entirely focused on our customers, as in our farmers. And that continued focus is going to drive everything that will continue to meet and solve their needs. And so there may be things that we don't even know about today that we're going to uncover as we look at that commitment of always understanding what our customers' needs are.

And so that openness to partnering with farmers and that commitment is, is something that I'm the most excited about aside of the technology, the traits, the germplasm that I think we'll be really looking forward to in the future as well..

Shay

Foulk: And all to provide, you know, the highest quality products and a good future for the people that are utilizing them.

Anthony

Lackore: Very well said. That's spot on.

Shay

Foulk: Great. So any last thoughts or comments here, Anthony, before we wrap up?

Anthony

Lackore: You know, this year, uh, certainly has been a challenging one. And, you know, as I look across the Midwest, there are operations who have been through this type of year before. There are operations where this is the first time they've ever been exposed to this. I think, you know, building that network and community and communication, if there's people that you know throughout the Midwest that have maybe been exposed to this, that, you know, I think back to 2013 in northern Iowa and southern Minnesota, we went through this where we had a tremendous amount of prevented plant, some of these issues. So, you know, thinking about if there's someone you know up in that area, how can you reach out to them and lean on and get feedback or input or just create some of those connections? Chances are someone's been through that before.

So, you know, that's one thing thinking about some of the challenges that we've certainly been faced with, um, that I think about as far as building that network and, and, uh, community as well too.

Shay

Foulk: That's an awesome point. And, you know, that's what we're trying to do here on the Ag View Pitch is not only reach out to the people in the community and all of the incredible connections that we've made over the last decades really, and just bring perspective to people on let's stop looking through our binoculars and let's talk to other people. Let's realize, you know, that things probably aren't as bad as, as we think they are when we get stuck in our thoughts out in the tractor and just making sure that, you know, we do have that optimism for the future because there's a lot of things going on right now. So Anthony, you know, thank you so much for taking time out of your busy day today. We appreciate having you on.

Anthony

Lackore: Hey, thank you. Very, very humbling experience, and certainly wish everyone a very successful and prosperous 2019 growing season.

Shay

Foulk: Great, thanks, Anthony. You know, this has been today's episode of the Ag View Pitch. Please, if you find any value out of this, if you're enjoying what we're doing here on the podcast, share this with people that you know. Reach out to those in the community and your networks, and, you know, have them tune into this. Have them tune into some of the perspective that we're trying to provide here. So Stay safe out there, and we'll catch you next time on the Eggview Pitch.