Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
>>> ADM Ventures investing in its vision of the future
01.23.2023
By Keith Nunes
https://www.bakingbusiness.com/articles/58234-adm-ventures-investing-in-its-vision-of-the-future
CHICAGO — The future of food and beverage innovation may run through the myriad venture capital investment groups seeking to launch and scale potentially disruptive technologies and services. For ADM Ventures, the venture capital arm of ADM, Chicago, the future of food may emerge from six broad categories, including alternative protein, human nutrition, health and wellness and the microbiome, animal nutrition, sustainability and biomaterials, and agriculture technologies.
“One of the first focus areas for ADM Ventures was alternative proteins,” said Darren Streiler, vice president of venture capital. “ADM has an over 75-year history in plant-based proteins, but ADM Ventures was charged with looking beyond ADM's business in plant proteins.
“We are looking at new ways to manufacture proteins. What is disruptive about some of these technologies is it is changing how protein is being manufactured. Instead of relying on livestock and animals, you can have a very small manufacturing footprint in any country. I think Singapore is a good example. You can establish protein factories in such a small area.”
The focus on alternative proteins led the group to invest in a cross-section of companies vying for funding and scale, including Air Protein, Believer Meats (formerly Future Meat), Geltor, Nature’s Fynd and Perfect Day. Recently, ADM Ventures has shifted its focus toward the other five categories.
“Where we've been most active lately is in health and wellness in and around the microbiome, and pet nutrition,” Mr. Streiler said.
Recent investments include Bond Pet Foods, Boulder, Colo., which raised $17.5 million in a Series A round, and Innovafeed, Paris, a processor and supplier of insects for use in animal and plant nutrition that raised $250 million in a Series D round. Both were announced in September 2022.
When considering investments, ADM Ventures takes a variety of topics into consideration regarding personnel and technologies.
“No. 1 is passion,” Mr. Streiler said about what he looks for in founders. “These folks go through some time where its fits and starts. There is not going to be hockey stick growth. They need to be passionate and knowledgeable about the industry they are going into.
“Then there is the question of product fit. What is the market demanding? What niche areas can they find? Where can they begin selling and executing? That is where you see a lot of creativity come in.”
When evaluating the potential of a technology or service, a key question is what impact will it have?
“Disruptive is an idea, product or service that helps to solve a problem in new ways; it makes meaningful change,” Mr. Streiler said. “In order to disrupt the market, you have to find that niche.”
Startup founders must also be willing to work with ADM.
“First and foremost, it is a mandatory requirement that we collaborate with all of our startups,” Mr. Streiler said. “We're trying to drive results. We use our extensive network and assets in ingredients and services to leverage that to help these startups go to market much faster than they would.”
An example is New Culture, San Leandro, Calif., a producer of animal-free casein and mozzarella that raised $25 million in a Series A funding round in November 2021 that ADM Ventures participated. Less than a year later the two companies entered into a partnership to advance the development and commercialization of New Culture’s products.
“We’re working toward accelerating New Culture’s foodservice and consumer applications with the support of our global product development and flavor resources, further accelerating technical capabilities to make plant-based cheese alternatives more delicious and accessible for consumers,” Mr. Streiler said. “The addition of New Culture’s casein enables their animal-free cheese to stretch and melt, something that’s never successfully been done before with alternative cheeses.”
He added that ADM is the “largest fermentation player in North America” and New Culture now has access to ADM’s scale to increase its alternative casein production.
“We have a lot of assets to move from pilot to scale,” Mr. Streiler said. “New Culture is a wonderful example of how we leverage existing assets to develop a novel technology. They have figured out how to make casein with precision fermentation. We are helping them reach full scale production much quicker. These assets are very expensive to manufacture and build. We have those assets.”
Mr. Streiler has been in his role with ADM since 2018 and has worked with numerous startups. In his experience, he has learned what some of the most difficult challenges are to bring a food technology concept to market. One is finding someone adept at working with the Food and Drug Administration and understands the regulatory process.
“A regulatory resource is hard to come by,” he said. “There is a shortage of people who know how to bring novel ingredients through FDA. They are expensive to hire and in short supply. We recommend consultants to help them.”
Another area is adding scale.
“It is a skill to take something that is in a pilot to full scale commercial production, particularly for food ingredients,” Mr. Streiler said. “That's our core business and it's something startups can tap in to.”
Choosing where to make investments can be more art than science. There are numerous factors that go into the decision-making process. Mr. Streiler said one advantage ADM Ventures has is access to the company’s Outside Voices market research.
“We do heavily rely on them for the current and future trends,” he said. “We leverage that group to understand consumer behaviors. That knowledge helps to shape our investments.
“We can go back to alternative protein. We saw this trend forming much earlier because of our place in the market. Groups like (Outside Voices) helped us understand where we should be focusing.”
<<<
---
>>> UN eyes revival of millets as global grain uncertainty grows
By FARAI MUTSAKA and JAMEY KEATEN
Associated Press
https://www.msn.com/en-us/news/world/un-eyes-revival-of-millets-as-global-grain-uncertainty-grows/ar-AA17h8d0?OCID=ansmsnnews11
RUSHINGA, Zimbabwe (AP) — While others in her Zimbabwean village agonize over a maize crop seemingly headed for failure, Jestina Nyamukunguvengu picks up a hoe and slices through the soil of her fields that are lush green with a pearl millet crop in the African country's arid Rushinga district.
“These crops don’t get affected by drought, they are quick to flower, and that’s the only way we can beat the drought,” the 59-year old said, smiling broadly. Millets, including sorghum, now take up over two hectares of her land — a patch where maize was once the crop of choice.
Farmers like Nyamukunguvengu in the developing world are on the front lines of a project proposed by India that has led the U.N.’s Food and Agricultural Organization to christen 2023 as “The Year of Millets”, an effort to revive a hardy and healthy crop that has been cultivated for millennia — but was largely elbowed aside by European colonists who favored corn, wheat and other grains.
The designation is timely: Last year, drought swept across much of eastern Africa; war between Russia and Ukraine upended supplies and raised the prices of foodstuffs and fertilizer from Europe's breadbasket; worries surged about environmental fallout of cross-globe shipments of farm products; many chefs and consumers are looking to diversify diets at a time of excessively standardized fare.
All that has given a new impetus to locally-grown and alternative grains and other staples like millets.
Millets come in multiple varieties, such as finger millet, fonio, sorghum, and teff, which is used in the spongy injera bread familiar to fans of Ethiopian cuisine. Proponents tout millets for their healthiness — they can be rich in proteins, potassium, and vitamin B — and most varieties are gluten-free. And they're versatile: useful in everything from bread, cereal and couscous to pudding and even beer.
Over centuries, millets have been cultivated around the world — in places like Japan, Europe, the Americas and Australia — but their epicenters have traditionally been India, China, and sub-Saharan Africa, said Fen Beed, team leader at FAO for rural and urban crop and mechanization systems.
Many countries realized they "should go back and look at what’s indigenous to their agricultural heritage and what could be revisited as a potential substitute for what would otherwise be imported — which is at risk when we had the likes of pandemic, or when we have the likes of conflict,” said Beed.
Millets are more tolerant of poor soils, drought and harsh growing conditions, and can easily adapt to different environments without high levels of fertilizer and pesticide. They don't need nearly as much water as other grains, making them ideal for places like Africa's arid Sahel region, and their deep roots of varieties like fonio can help mitigate desertification, the process that transforms fertile soil into desert, often because of drought or deforestation.
“Fonio is nicknamed the Lazy Farmers crop. That’s how easy it is to grow," says Pierre Thiam, executive chef and co-founder of New York-based fine-casual food chain Teranga, which features West African cuisine. “When the first rain comes, the farmers only have to go out and just like throw the seeds of fonio ... They barely till the soil."
“And it’s a fast growing crop, too: It can mature in two months,” he said, acknowledging it's not all easy: "Processing fonio is very difficult. You have to remove the skin before it becomes edible.”
Millets account for less than 3% of the global grain trade, according to FAO. But cultivation is growing in some arid zones. In Rushinga district, land under millets almost tripled over the past decade. The U.N.'s World Food Programme deployed dozens of threshing machines and gave seed packs and training to 63,000 small-scale farmers in drought-prone areas in the previous season.
Low rainfall and high temperatures in recent years in part due to climate change, coupled with poor soils, have doused interest in water-guzzling maize.
“You'll find the ones who grew maize are the ones who are seeking food assistance, those who have grown sorghum or pearl millet are still eating their small grains,” said Melody Tsoriyo, the district’s agronomist, alluding to small grains like millets, whose seeds can be as fine as sand. “We anticipate that in five years to come, small grains will overtake maize.”
Government teams in Zimbabwe have fanned out to remote rural regions, inspecting crops and providing expert assistance such as through WhatsApp groups to spread technical knowledge to farmers.
WFP spokesman Tatenda Macheka said millets “are helping us reduce food insecurity” in Zimbabwe, where about a quarter of people in the country of 15 million — long a breadbasket of southern Africa — are now food insecure, meaning that they're not sure where their next meal will come from.
In urban areas of Zimbabwe and well beyond, restaurants and hotels are riding the newfound impression that a millet meal offers a tinge of class, and have made it pricier fare on their menus.
Thiam, the U.S.-based chef, recalled eating fonio as a kid in Senegal's southern Casamance region, but fretted that it wasn't often available in his hometown — the capital — let alone New York. He admitted once “naively" having dreams making what's known in rural Senegal as “the grain of royalty” — served to honor visiting guests — into a “world class crop.”
He's pared back those ambitions a bit, but still sees a future for the small grains.
“It’s really amazing that you can have a grain like this that’s been ignored for so long," Thiam said in an interview from his home in El Cerrito, Calif., where he moved to be close to his wife and her family. "It’s about time that we integrate it into our diet.”
<<<
---
>>> Deere & Company (NYSE:DE)
Number of Hedge Fund Holders: 57
https://www.insidermonkey.com/blog/5-best-farmland-and-agriculture-stocks-to-buy-heading-into-2023-1102709/5/
Deere & Company (NYSE:DE) is an Illinois-based company that manufactures and distributes equipment worldwide. The company operates through four segments – Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. On November 23, Deere & Company (NYSE:DE) posted a FQ4 GAAP EPS of $7.44 and a revenue of $14.35 billion, outperforming Wall Street estimates by $0.34 and $890 million, respectively. The company expects net income for FY2023 to be in the range of $8 billion to $8.5 billion. It is one of the agriculture stocks to invest in.
On December 19, Stifel analyst Stanley Elliott raised the price target on Deere & Company (NYSE:DE) to $477 from $475 and maintained a Buy rating on the shares. In his 2023 outlook note for his Machinery, Construction Materials, and Building Products coverage, the analyst stated that he expects “typical late-cycle trends” including weakness in housing but non-residential demand increasing. The analyst also forecasts the price/cost environment to improve.
According to Insider Monkey’s data, 57 hedge funds were long Deere & Company (NYSE:DE) at the end of the third quarter of 2022, compared to 54 funds in the last quarter. Bill & Melinda Gates Foundation Trust is the biggest stakeholder of the company, with approximately 4 million shares worth $1.30 billion.
Harding Loevner made the following comment about Deere & Company (NYSE:DE) in its Q3 2022 investor letter:
“Deere & Company (NYSE:DE), the world’s largest manufacturer of agricultural equipment, reported fiscal third-quarter growth in revenues and earnings of 22% and 16%, respectively. These results reaffirmed Deere’s pricing power, which enabled the company to overcome rising raw material costs and a host of supply chain challenges.
John Deere also suffered supply chain challenges. It could not complete some machines as it waited for parts, and higher shipping costs cut into its margins. In the third quarter, production recovered. Revenue for its connected services Precision Ag unit increased 43% year over year, thanks to rising unit sales and a 15% price bump. Deere is the world’s largest agricultural machinery manufacturer, with the largest customer base, the largest dealer network, and arguably the industry’s most advanced technology stack. Deere has also amassed the industry’s biggest agricultural database. These powerful competitive advantages should help Deere to raise its margins as it targets a 40% share of revenues by the end of the decade from less cyclical, recurring sources such as software and maintenance services.”
<<<
>>> Deere & Company (DE) manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers. The Small Agriculture and Turf segment offers utility tractors, and related loaders and attachments; turf and utility equipment, including riding lawn equipment, commercial mowing equipment, golf course equipment, and utility vehicles, as well as implements for mowing, tilling, snow and debris handling, aerating, residential, commercial, golf, and sports turf care applications; other outdoor power products; and hay and forage equipment. This segment also resells products from other manufacturers. It serves dairy and livestock producers, crop producers, and turf and utility customers. The Construction and Forestry segment provides a range of backhoe loaders, crawler dozers and loaders, four-wheel-drive loaders, excavators, motor graders, articulated dump trucks, landscape and skid-steer loaders, milling machines, pavers, compactors, rollers, crushers, screens, asphalt plants, log skidders, log feller bunchers, log loaders and forwarders, log harvesters, and attachments; and roadbuilding equipment. The Financial Services segment finances sales and leases agriculture and turf, and construction and forestry equipment. It also offers wholesale financing to dealers of the foregoing equipment; and extended equipment warranties, as well as finances retail revolving charge accounts. Deere & Company was founded in 1837 and is headquartered in Moline, Illinois. <<<
---
>>> Archer-Daniels-Midland Company (NYSE:ADM) -
https://www.yahoo.com/now/11-best-farmland-agriculture-stocks-211441951.html
Number of Hedge Fund Holders: 37
Archer-Daniels-Midland Company (NYSE:ADM) was founded in 1902 and is headquartered in Chicago, Illinois. The company procures, transports, processes, and merchandises agricultural commodities in the United States, Switzerland, Cayman Islands, Brazil, Mexico, the United Kingdom, and internationally. Archer-Daniels-Midland Company (NYSE:ADM) operates through three segments – Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.
On October 25, Archer-Daniels-Midland Company (NYSE:ADM) reported its Q3 results. The company posted non-GAAP earnings per share of $1.86, beating Wall Street estimates by $0.45. Revenue over the period came in at $24.68 billion, up 21.3% year-over-year, outperforming market consensus by $2.47 billion. Archer-Daniels-Midland Company (NYSE:ADM) also paid a $0.40 per share quarterly dividend to shareholders on December 7.
UBS analyst Manav Gupta initiated coverage of Archer-Daniels-Midland Company (NYSE:ADM) on December 14 with a Buy rating and a $115 price target. The analyst sees Archer-Daniels-Midland Company (NYSE:ADM) reporting earnings of $7.75 per share by 2026 when considering its productivity and innovation efforts, even in a normalized margin environment, the analyst told investors. He estimates earnings bottoming at $6.07 per share, which the analyst said is "well above" present normalized earnings levels of $4.50 per share.
According to Insider Monkey’s data, Archer-Daniels-Midland Company (NYSE:ADM) was part of 37 hedge fund portfolios at the end of Q3 2022, compared to 42 in the last quarter. Tom Gayner’s Markel Gayner Asset Management held the biggest position in the company, comprising 1.46 million shares worth $117.7 million.
In addition to The Mosaic Company (NYSE:MOS), Bunge Limited (NYSE:BG), and Deere & Company (NYSE:DE), Archer-Daniels-Midland Company (NYSE:ADM) is one of the premier agriculture stocks to invest in.
Here is what Diamond Hill Long-Short Fund has to say about Archer-Daniels-Midland Company (NYSE:ADM) in its Q1 2022 investor letter:
“ADM is a leading agricultural processor that also operates a global nutrition business focused on the development of ingredients and flavors for food and beverages, supplements and more. The company’s recent operating results have benefited (unfortunately) from the war in Ukraine as grain prices and agricultural markets globally experienced strong price increases. ADM is positioned well to benefit from the volatility due to its stable North American agricultural base.”
<<<
>>> Archer-Daniels-Midland Company (ADM) procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, Cayman Islands, Brazil, Mexico, the United Kingdom, and internationally. The company operates through three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. It procures, stores, cleans, and transports agricultural raw materials, such as oilseeds, corn, wheat, milo, oats, and barley. The company also engages in the agricultural commodity and feed product import, export, and distribution; and structured trade finance activities. In addition, it offers vegetable oils and protein meals; ingredients for the food, feed, energy, and industrial customers; crude vegetable oils, salad oils, margarine, shortening, and other food products; and partially refined oils to produce biodiesel and glycols for use in chemicals, paints, and other industrial products. Further, the company provides peanuts, peanut-derived ingredients, and cotton cellulose pulp; sweeteners, corn and wheat starches, syrup, glucose, wheat flour, and dextrose; alcohol and other food and animal feed ingredients; ethyl alcohol and ethanol; corn gluten feed and meal; distillers' grains; and citric acids. Additionally, the company provides natural flavors, flavor systems, natural colors, proteins, emulsifiers, soluble fiber, polyols, hydrocolloids, and natural health and nutrition products, including probiotics, prebiotics, enzymes, and botanical extracts; and other specialty food and feed ingredients; edible beans; formula feeds, and animal health and nutrition products; and contract and private label pet treats and foods. It also offers futures commission merchant; commodity brokerage services; cash margins and securities pledged to commodity exchange clearinghouses; and cash pledged as security under certain insurance arrangements. The company was founded in 1902 and is headquartered in Chicago, Illinois. <<<
---
>>> FMC Corporation (NYSE:FMC) -
https://www.yahoo.com/now/11-best-farmland-agriculture-stocks-211441951.html
Number of Hedge Fund Holders: 28
Next on our list of the best agriculture stocks is FMC Corporation (NYSE:FMC), a Pennsylvania-based agricultural sciences company that provides crop protection, plant health, and professional pest and turf management products. On December 14, FMC Corporation (NYSE:FMC) declared a $0.58 per share quarterly dividend, a 9.4% increase from its prior dividend of $0.53. The dividend is payable on January 19, 2023 to shareholders of record on December 30.
On November 15, Loop Capital analyst Christopher Kapsch upgraded FMC Corporation (NYSE:FMC) to Buy from Hold with a price target of $149, up from $132. The earlier downgrade was due to his belief that the stock's valuation had gotten ahead of the story, but FMC Corporation (NYSE:FMC) has executed well, which helped derisk its earnings progression, the analyst told investors in a research note.
According to Insider Monkey’s third quarter database, 28 hedge funds were long FMC Corporation (NYSE:FMC) with collective stakes worth $496.5 million, compared to 29 funds in the last quarter worth $361.2 million. Ken Griffin’s Citadel Investment Group held the biggest stake in the company, consisting of 1.2 million shares worth $130 million.
Here is what Aristotle Capital Management Global Equity has to say about FMC Corporation (NYSE:FMC) in its Q1 2022 investor letter:
“FMC is an agricultural sciences company providing solutions for the protection of crops from different pests. Its products are used by farmers to ensure bugs, weeds and fungi do not negatively impact their harvest. Headquartered in Philadelphia, Pennsylvania, the company has a rich history dating back to 1883 when inventor John Bean set out to build a better insecticide spray pump. Over the decades, through acquisitions, FMC became a disparate collection of chemical companies. FMC has transformed itself to solely focus on crop chemicals, having acquired DuPont’s crop chemicals portfolio in 2017, and completed the separation of its lithium business in 2019. FMC is now one of the largest patented crop protection companies globally.
Its presence is balanced both geographically around the world, as well as from a crop exposure standpoint, with soybeans being the largest at roughly 20% of total revenue. In terms of products, FMC’s portfolio skews toward insecticides, which account for over 60% of its revenue. The remainder are herbicides (~25%), as well as fungicides and other crop chemicals (~15%).
High-Quality Business
Some of the quality characteristics we have identified for FMC include:
Attractive Valuation
We believe FMC’s current stock price is offered at a discount to our determination of the company’s intrinsic value given our estimates of both enhanced margins and higher earnings on a normalized basis.
Compelling Catalysts
Catalysts we have identified for FMC, which we believe will cause its stock price to appreciate over our three- to five-year investment horizon, include:
FMC is poised to benefit from its focus on crop chemicals, as yield gains are needed to support rising food consumption in emerging markets;
Continued margin improvements from its product pipeline. These new products should be particularly effective against insects, weeds and fungi that have grown resistant to traditional crop chemicals; and
Further cross-selling of FMC products to DuPont customers. For example, in Argentina, 78% of the customers it gained from the DuPont acquisition were unique to FMC, providing cross-selling opportunities.”
<<<
>>> FMC Corporation (FMC), an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that include insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control. The company markets its products through its own sales organization and through alliance partners, independent distributors, and sales representatives. It operates in North America, Latin America, Europe, the Middle East, Africa, and Asia. FMC Corporation was founded in 1883 and is headquartered in Philadelphia, Pennsylvania. <<<
---
>>> ICL Group Ltd (NYSE:ICL)
https://www.yahoo.com/now/11-best-farmland-agriculture-stocks-211441951.html
Number of Hedge Fund Holders: 17
ICL Group Ltd (NYSE:ICL) is headquartered in Tel Aviv, Israel, and it operates as a specialty minerals and chemicals company worldwide. The company has four segments – Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions. It is one of the best agriculture stocks to invest in. In Q3 2022, ICL Group Ltd (NYSE:ICL) reported adjusted EBITDA of $1,049 million, up 139% versus $438 million in the last quarter. Adjusted EBITDA margin came in at 41.6%, up from 24.5% in the prior quarter.
On November 17, Barclays analyst Benjamin Theurer maintained an Equal Weight rating on ICL Group Ltd (NYSE:ICL) and lowered the price target on the shares to $11 from $12 after the earnings season. While the analyst remains positive about the broader agriculture space, he believes fiscal 2023 will in part be a year of relatively more normal earnings levels, with results beating performance prior to sanctions against Belarus being introduced and Russia's invasion of Ukraine.
According to Insider Monkey’s Q3 data, 17 hedge funds were bullish on ICL Group Ltd (NYSE:ICL), compared to 13 funds in the prior quarter.
<<<
>>> ICL Group Ltd (ICL), together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions (IAS). The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products. The Potash segment extracts potash from the Dead Sea; mines and produces potash and salt; produces Polysulphate; produces, markets, and sells magnesium and magnesium alloys, as well as related by-products, including chlorine and sylvinite; and sells salt. The Phosphate Solutions segment uses phosphate commodity products to produce specialty products; produces and markets phosphate-based fertilizers, as well as sulphuric acid, green phosphoric acid, and phosphate fertilizers; and manufactures thermal phosphoric acid for various industrial end markets, such as oral care, cleaning products, paints and coatings, water treatment, asphalt modification, construction, and metal treatment. It also develops and produces functional food ingredients and phosphate additives for use in the processed meat, poultry, seafood, dairy, beverage, and baked goods markets; and produces milk and whey proteins for the food ingredients industry. The IAS segment develops, manufactures, markets, and sells fertilizers based primarily on nitrogen, potash, and phosphate, including water soluble specialty, liquid, soluble, and controlled-release fertilizers. It sells its products through marketing companies, agents, and distributors. The company was formerly known as Israel Chemicals Ltd. and changed its name to ICL Group Ltd in May 2020. The company was founded in 1968 and is headquartered in Tel Aviv, Israel.
<<<
---
>>> Alamo Group Inc. (NYSE:ALG)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171117892
Market Capitalization as of January 26, 2023: $1.82 billion
Alamo Group Inc. (NYSE:ALG) is a farming equipment company. It makes and sells a wide variety of machinery, such as tractor mowers and cutters. On the agrochemical side of things, the company provides products that allow farmers to apply fertilizers to their crops.
By the end of last year's third quarter, 11 out of the 920 hedge funds polled by Insider Monkey had bought Alamo Group Inc. (NYSE:ALG)'s shares.
Alamo Group Inc. (NYSE:ALG)'s largest shareholder is James A. Star's Longview Asset Management which owns 1.3 million shares that are worth $166 million.
<<<
>>> Alamo Group Inc. (ALG) designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts. This segment also provides rotary and finishing mowers, flail and disc mowers, front-end loaders, backhoes, rotary tillers, posthole diggers, scraper blades and replacement parts, zero turn radius mowers, cutting parts, plain and hard-faced replacement tillage tools, disc blades, and fertilizer application components; aftermarket agricultural parts, heavy-duty mechanical rotary mowers, snow blowers, rock removal equipment, replacement parts, tractor attachments, agricultural implements, hydraulic and boom-mounted hedge and grass cutters, tractor attachments and implements, hedgerow cutters, industrial grass mowers, agricultural seedbed preparation cultivators, self-propelled sprayers and multi-drive load-carrying vehicles, cutting blades, and hydraulic and mechanical boom mowers. The company's Industrial Equipment Division segment offers truck-mounted air vacuum, mechanical broom, and regenerative air sweepers, pothole patchers, leaf collection equipment and replacement brooms, parking lot and street sweepers, excavators, catch basin cleaners, and roadway debris vacuum systems, as well as truck-mounted vacuum machines, combination sewer cleaners, and hydro excavators. This segment also offers ice control products, snowplows and heavy duty snow removal equipment, hitches, attachments, and graders; and public works and runway maintenance products, parts, and services, and high pressure cleaning systems and trenchers. The company was founded in 1955 and is headquartered in Seguin, Texas. <<<
---
>>> Bioceres Crop Solutions Corp. (NASDAQ:BIOX)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171117892
Market Capitalization as of January 26, 2023: $763 million
Bioceres Crop Solutions Corp. (NASDAQ:BIOX) is an agricultural business that provides products and solutions that range from seeds to inputs required during the planting process. Its agrochemical products include insecticides, herbicides, fungicides, baits, and therapies. The firm is based in Rosario, Argentina.
Five out of the 920 hedge funds part of Insider Monkey's September quarter of 2022 research had held a stake in Bioceres Crop Solutions Corp. (NASDAQ:BIOX).
Bioceres Crop Solutions Corp. (NASDAQ:BIOX)'s largest investor is Craig Peskin and Peter Fleiss's Solel Partners which owns 4.5 million shares that are worth $59 million <<<
_____________________________
Bioceres Crop Solutions Corp. (BIOX), together with its subsidiaries, provides crop productivity solutions. It operates in three segments: Seed and Integrated Products, Crop Protection, and Crop Nutrition. The Seed and Integrated Products segment provides seed traits, germplasms, and seed treatment packs for healthier and higher yielding crops. The Crop Protection segment develops, produces, and markets Rizoderma, adjuvants, therapies, herbicides, insecticides, fungicides, and baits. The Crop Nutrition segment develops, produces, commercializes, and sells inoculants, bio-inductors, and biological and microgranulated fertilizers. The company also offers HB4, a drought tolerant seed technology program. It operates in Argentina, Bolivia, Brazil, the United States, Paraguay, South Africa, France, Uruguay, and internationally. The company was founded in 2001 and is headquartered in Rosario, Argentina. <<<
---
>>> Top 25 Agrochemical Companies in the World
Insider Monkey
Ramish Cheema
January 27, 2023
https://finance.yahoo.com/news/top-25-agrochemical-companies-world-183728826.html
In this piece, we will take a look at the top 25 agrochemical companies in the world. For more companies, head on over to Top 5 Agrochemical Companies in the World.
The ongoing Russian invasion of Ukraine, which is about to enter a full twelve months upended global agriculture supply chains. Both Russia and Ukraine are among the world's top agricultural and food products exporters, and a conflict between them cast doubt on the integrity of the global supply chain. As an illustration of the importance of both countries in the global food supply chain, data from the Organization for Economic Co-operation and Development (OECD) shows that as of August 2022, Russia and Ukraine were responsible for producing 13% of the world's wheat - with the lion's share of 10% going to Russia. This made Russia the world's largest wheat exporter and Ukraine the fifth largest.
Similarly, data from the U.S. Department of Agriculture shows that apart from wheat, Ukraine was the world's largest sunflower producer, the second largest producer of sunflower oil and sunflower meal, and the fourth largest producer of barley. Why is this important? Well, the Ukraine invasion has led to supply diversification across a host of sectors, such as energy, and including agriculture. This has had an effect on the stock market as well. For instance, shares of CF Industries Holdings, Inc. (NYSE:CF), a nitrogen producer, are up by 23% over the year despite a wider bloodbath in the stock market.
Zoning in on the agrochemical industry, this market, which consists of firms that produce fertilizers and pesticides, was worth $231 billion in 2020 according to research from Allied Market Research. Additionally, the research firm believes that the industry will grow at a compounded annual growth rate (CAGR) of 2.9% between 2021 and 2030 to be worth an estimated $315 billion by the end of the forecast period. In terms of market composition, fertilizers is the largest segment and will remain so over the course of this decade.
Today's piece will look at the top agrochemical companies in the world. Out of these, the largest players are Corteva, Inc. (NYSE:CTVA), BASF SE (ETR:BAS.DE), and Bayer Aktiengesellschaft (OTCMKTS:BAYRY).
Top 25 Agrochemical Companies in the World
Our Methodology
We studied the agriculture industry in detail to sift out companies that are publicly listed and sell either fertilizers, or pesticides, or both. The firms are ranked according to their latest market capitalization.
Top 25 Agrochemical Companies in the World
25. AgroFresh Solutions, Inc. (NASDAQ:AGFS)
Market Capitalization as of January 26, 2023: $157 million
AgroFresh Solutions, Inc. (NASDAQ:AGFS) is an American farming company that was set up in 1994 and is headquartered in Philadelphia Pennsylvania. The company provides different agrochemical products such as fungicides and disinfectants.
By the end of last year's third quarter, two out of the 920 hedge funds polled by Insider Monkey had bought a stake in AgroFresh Solutions, Inc. (NASDAQ:AGFS).
Out of these, Jim Simons' Renaissance Technologies is AgroFresh Solutions, Inc. (NASDAQ:AGFS)'s largest shareholder. It owns 416,111 shares that are worth $624,000.
Along with BASF SE (ETR:BAS.DE), Corteva, Inc. (NYSE:CTVA), and Bayer Aktiengesellschaft (OTCMKTS:BAYRY) AgroFresh Solutions, Inc. (NASDAQ:AGFS) is one of the largest agrochemical companies in the world.
24. American Vanguard Corporation (NYSE:AVD)
Market Capitalization as of January 26, 2023: $670 million
American Vanguard Corporation (NYSE:AVD) is a California based agricultural chemicals company. The firm's products include insecticides, fungicides, herbicides, and others. It is based in Newport Beach.
Insider Monkey took a look at 920 hedge fund portfolios for 2022's third quarter to discover that 10 had invested in American Vanguard Corporation (NYSE:AVD).
American Vanguard Corporation (NYSE:AVD)'s largest shareholder in our database is Keith M. Rosenbloom's Cruiser Capital Advisors which owns 779,954 shares that are worth $14.5 million.
23. Bioceres Crop Solutions Corp. (NASDAQ:BIOX)
Market Capitalization as of January 26, 2023: $763 million
Bioceres Crop Solutions Corp. (NASDAQ:BIOX) is an agricultural business that provides products and solutions that range from seeds to inputs required during the planting process. Its agrochemical products include insecticides, herbicides, fungicides, baits, and therapies. The firm is based in Rosario, Argentina.
Five out of the 920 hedge funds part of Insider Monkey's September quarter of 2022 research had held a stake in Bioceres Crop Solutions Corp. (NASDAQ:BIOX).
Bioceres Crop Solutions Corp. (NASDAQ:BIOX)'s largest investor is Craig Peskin and Peter Fleiss's Solel Partners which owns 4.5 million shares that are worth $59 million
22. The Andersons, Inc. (NASDAQ:ANDE)
Market Capitalization as of January 26, 2023: $1.2 billion
The Andersons, Inc. (NASDAQ:ANDE) is a U.S. based diversified agricultural company. The firm offers several products and services such as trade operations and plant nutrition. The latter segment provides fertilizers, pelleted lime, and weed and pest control products, among others.
Insider Monkey took a look at 920 hedge fund holdings for Q3 2022 to discover that 16 had bought The Andersons, Inc. (NASDAQ:ANDE)'s shares.
George Mccabe's Portolan Capital Management is The Andersons, Inc. (NASDAQ:ANDE)'s largest hedge fund investor through an $8.2 million stake that comes via 264,745 shares.
21. DCM Shriram Limited (NSE:DCMSHRIRAM.NS)
Market Capitalization as of January 26, 2023: $1.6 billion (1INR = 0.012USD)
DCM Shriram Limited (NYSE:DCMSHRIRAM.NS) is an Indian company that is headquartered in New Delhi. It makes and sells farming products such as calcium carbide, aluminum chloride, fertilizers, crop health management chemicals, and other agrochemical products.
20. Nufarm Limited (ASX:NUF.AX)
Market Capitalization as of January 26, 2023: $1.6 billion (1AUD = 0.71USD)
Nufarm Limited (ASX:NUF.AX) is an Australian company that is headquartered in Laverton North. The firm was set up in 1916 and it develops, makes, and sells crop protection products all over the world. Some of these include pest control and seed protection products.
19. Alamo Group Inc. (NYSE:ALG)
Market Capitalization as of January 26, 2023: $1.82 billion
Alamo Group Inc. (NYSE:ALG) is a farming equipment company. It makes and sells a wide variety of machinery, such as tractor mowers and cutters. On the agrochemical side of things, the company provides products that allow farmers to apply fertilizers to their crops.
By the end of last year's third quarter, 11 out of the 920 hedge funds polled by Insider Monkey had bought Alamo Group Inc. (NYSE:ALG)'s shares.
Alamo Group Inc. (NYSE:ALG)'s largest shareholder is James A. Star's Longview Asset Management which owns 1.3 million shares that are worth $166 million.
18. Bayer CropScience Limited (NSE:BAYERCROP.NS)
Market Capitalization as of January 26, 2023: $2.5 billion (1INR = 0.012USD)
Bayer CropScience Limited (NSE:BAYERCROP.NS) is an Indian company that is headquartered in Thane. The firm makes and sells products including herbicides, fungicides, and insecticides all over the world in countries such as Germany and Bangladesh. Additionally, the firm also provides medical imaging equipment.
17. Sinochem International Corporation (SHA:600500.SS)
Market Capitalization as of January 26, 2023: $3.71 billion (1CNY = 0.15USD)
Sinochem International Corporation (SHA:600500.SS) is a Chinese state owned firm that is headquartered in Shanghai. The company is China's largest fertilizer and agrochemical company. Additionally, it also owns the Swiss firm Syngenta AG, which is another key player in the pesticide, herbicide, and plant nutrient industries. Another key firm owned by its partner is ADAMA Ltd. However, Sinochem International Corporation (SHA:600500.SS) has been blacklisted by the U.S. government due to ties with the Chinese military.
16. Hektas Ticaret T.A.S. (IST:HEKTS.IS)
Market Capitalization as of January 26, 2023: $4.46 billion (1TRY = 0.053USD)
Hektas Ticaret T.A.S. (IST:HEKTS.IS) is a Turkish company that is headquartered in Gebze. The firm makes and sells a host of different farming products such as nematicides, fungicides, fumigants, insecticides, herbicides, fertilizers, and other agrochemical products.
15. Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY)
Market Capitalization as of January 26, 2023: $6.17 billion
Sumitomo Chemical Company, Limited (OTCMKTS:SOMMY) is a diversified Japanese chemical company with stakes in several industries. Out of these, its fertilizer division is responsible for making and selling fertilizers, insecticides, and other crop protection products.
14. UPL Limited (NSE:UPL.NS)
Market Capitalization as of January 26, 2023: $6.8 billion (1INR = 0.012USD)
UPL Limited (NSE:UPL.NS) is an Indian company that is headquartered in Mumbai and was set up in 1969. The firm has a proprietary crop protection solution that is called ProNutiva. Alongside this, it also makes and sells herbicides, insecticides, fungicides, and other products.
13. OCI N.V. (AMS:OCI.AS)
Market Capitalization as of January 26, 2023: $7.5 billion (1EUR = 1.09USD)
OCI N.V. (AMS:OCI.AS) is a Dutch company headquartered in Amsterdam. It sells urea, and different kinds of ammonium products such as ammonium sulfate and nitrate, nitric acid, and others. The firm has operations all over the globe, including the U.S., Europe, Asia, and the Middle East.
12. AGCO Corporation (NYSE:AGCO)
Market Capitalization as of January 26, 2023: $10 billion
AGCO Corporation (NYSE:AGCO) is an American company that sells heavy equipment that also serves the needs of farmers. Its products also include equipment for applying fertilizer, both wet and dry, crop protection chemicals, and others. The firm is based in Duluth, Georgia.
Insider Monkey took a look at 920 hedge fund holdings for the third quarter of 2022 to discover that 24 had bought AGCO Corporation (NYSE:AGCO)'s shares.
AGCO Corporation (NYSE:AGCO)'s largest investor is Ken Griffin's Citadel Investment Group which owns 1.6 million shares that are worth $156 million.
11. ICL Group Ltd (NYSE:ICL)
Market Capitalization as of January 26, 2023: $10.3 billion
ICL Group Ltd (NYSE:ICL) is an Israeli company that is headquartered in Tel Aviv. The firm sells potassium, phosphate, and nitrogen based fertilizers through multiple business divisions.
17 of the 920 hedge funds part of Insider Monkey's Q3 2022 920 hedge fund survey had bought ICL Group Ltd (NYSE:ICL)'s shares.
10. Public Joint-Stock Company PhosAgro (MCX:PHOR.ME)
Market Capitalization as of January 26, 2023: $14.5 billion (1RUB = 0.015USD)
Public Joint-Stock Company PhosAgro (MCX:PHOR.ME) is a Russian company set up in 2001 and headquartered in Moscow. The firm is primarily a fertilizer company that sells its products in its home country and abroad. These are phosphate and nitrogen fertilizers, such as ammonium nitrate, ammophos, ammonia, and sodium tripolyphosphate. Despite the Ukraine war, Public Joint-Stock Company PhosAgro (MCX:PHOR.ME) grew its revenue by a whopping 91% during the first half of 2022.
9. The Mosaic Company (NYSE:MOS)
Market Capitalization as of January 26, 2023: $16.3 billion
The Mosaic Company (NYSE:MOS) is an American firm headquartered in Tampa, Florida. It is a diversified fertilizer company that owns and operates mines through which it extracts the materials for its products.
By the end of 2022's September quarter, 46 of the 920 hedge funds polled by Insider Monkey had invested in The Mosaic Company (NYSE:MOS).
The Mosaic Company (NYSE:MOS)'s largest shareholder is Eric W. Mandelblatt's Soroban Capital Partners which owns 6.8 million shares that are worth $332 million.
8. CF Industries Holdings, Inc. (NYSE:CF)
Market Capitalization as of January 26, 2023: $16.4 billion
CF Industries Holdings, Inc. (NYSE:CF) is an American company set up in 1946 and headquartered in Deerfield, Illinois. The firm makes and sells ammonium, urea ammonium nitrate, granular urea, and other products.
Insider Monkey studied 65 hedge fund holdings for last year's third quarter to discover that 65 had bought CF Industries Holdings, Inc. (NYSE:CF)'s shares.
CF Industries Holdings, Inc. (NYSE:CF)'s largest investor is Eric W. Mandelblatt's Soroban Capital Partners which owns 2.4 million shares that are worth $239 million.
7. FMC Corporation (NYSE:FMC)
Market Capitalization as of January 26, 2023: $16.4 billion
FMC Corporation (NYSE:FMC) is an American farming company that develops and sells agricultural protection products. These include seed treatment products, crop nutrition solutions, and herbicides, among others.
By the end of Q3 2022, 28 out of the 920 hedge funds polled by Insider Monkey had bought FMC Corporation (NYSE:FMC)'s shares.
FMC Corporation (NYSE:FMC)'s largest investor is Ken Griffin's Citadel Investment Group which owns 1.2 million shares that are worth $130 million.
6. SABIC Agri-Nutrients Company (TADAWUL:2020.SR)
Market Capitalization as of January 26, 2023: $17.7 billion
SABIC Agri-Nutrients Company (TADAWUL:2020.SR) is a Saudi Arabian company, which is partially owned by the Saudi government. The firm claims to be one of the largest fertilizer companies in the world. It makes and sells urea, ammonia, nitrogen, methanol, phosphate, and other fertilizers.
Corteva, Inc. (NYSE:CTVA), BASF SE (ETR:BAS.DE), and Bayer Aktiengesellschaft (OTCMKTS:BAYRY) are met by SABIC Agri-Nutrients Company (TADAWUL:2020.SR) in our list of the biggest agrochemical companies.
5. Wesfarmers Limited (ASX:WES.AX)
Market Capitalization as of January 26, 2023: $39.95 billion (1AUD = 0.71USD)
Wesfarmers Limited (ASX:WES.AX) is an Australian firm that does business in the retail and fertilizer industry. It produces and supplies a wide variety of different fertilizers such as ammonia, potassium, nitrogen, and phosphate products. Wesfarmers Limited (ASX:WES.AX) is headquartered in Perth, Australia.
4. Nutrien Ltd. (NYSE:NTR)
Market Capitalization as of January 26, 2023: $41 billion
Nutrien Ltd. (NYSE:NTR) is a Canadian firm based in Saskatoon. It sells different kinds of fertilizers such as those using nitrogen, phosphate, and sulfur as their constituent elements. It was formerly known as Agrium but merged with another firm in 2017
52 out of the 920 hedge funds part of Insider Monkey’s Q3 2022 survey of 920 hedge funds had bought Nutrien Ltd. (NYSE:NTR)’s shares.
Out of these, Jean-Marie Eveillard’s First Eagle Investment Management is Nutrien Ltd. (NYSE:NTR)’s largest investor. It owns 8.4 million shares that are worth $701 million.
3. Corteva, Inc. (NYSE:CTVA)
Market Capitalization as of January 26, 2023: $45 billion
Corteva, Inc. (NYSE:CTVA) is a relatively younger company that was set up in 2018, and is based in Indianapolis, Indiana. The firm makes and sells nitrogen stabilizers, pasture and range management chemicals, herbicides, pesticides, and insecticides. It is the chemicals division of DuPont de Nemours, Inc. (NYSE:DD) and was made into a separate entity in 2018 which included merging it with DOW Agrosciences as part of a complex corporate restructuring effort.
Insider Monkey’s Q3 2022 survey of 920 hedge funds revealed that 50 had invested in Corteva, Inc. (NYSE:CTVA).
Corteva, Inc. (NYSE:CTVA)’s largest investor is Israel Englander’s Millennium Management which owns 2.6 million shares that are $148 million.
2. BASF SE (ETR:BAS.DE)
Market Capitalization as of January 26, 2023: $51 billion (1EUR = 1.09USD)
BASF SE (ETR:BAS.DE) is one of the largest and most well known chemicals companies in the world. It has several businesses out of which the agriculture division makes and sells herbicides, fungicides, seed disease protection, biological items, and other products. BASF SE (ETR:BAS.DE) was set up in 1865, making it one of the oldest companies in the world. The firm is headquartered in Rhein, Germany.
1. Bayer Aktiengesellschaft (OTCMKTS:BAYRY)
Market Capitalization as of January 26, 2023: $60.20 billion
Bayer Aktiengesellschaft (OTCMKTS:BAYRY) is a German company that is headquartered in Leverkusen. The firm has several businesses such as consumer health products, pharmaceuticals, and agriculture. Out of these, its agriculture division is one of the leading players in the industry and makes and sells several products. These include chemical and biological based crop protection products such as herbicides, fungicides, and insecticides. Additionally, the firm also aims to launch dozens of new crop production products this decade.
<<<
---
Beyond Soylent Green - >>> New York becomes 6th US state to green light human composting law
Fox News
by Pilar Arias
Jan 1, 2023
https://www.msn.com/en-us/news/us/new-york-becomes-6th-us-state-to-green-light-human-composting-law/ar-AA15RS7E
New York has become the sixth state in the United States to legalize natural organic reduction, popularly known as human composting, as a method of burial.
Democratic Gov. Kathy Hochul signed the legislation on Saturday. Washington was the first state to legalize human composting in 2019, followed by Colorado and Oregon in 2021 and Vermont and California in 2022.
"I am committed to having my body composted and my family knows that," Howard Fischer, a 63-year-old investor living north of New York City, told The Associated Press. "Whatever my family chooses to do with the compost after it’s done is up to them."
The alternative, green method of burial aligns with Fischer's philosophical view on life: to live in an environmentally conscious way.
The process involves the body of the deceased being placed into a reusable vessel, along with plant material such as wood chips, alfalfa and straw. The organic mix creates the perfect habitat for naturally occurring microbes to do their work, quickly and efficiently breaking down the body in about a month’s time.
The end result is a cubic yard stack of nutrient-dense soil amendment, the equivalent of about 36 bags of soil, that can be used to plant trees or enrich conservation land, forests or gardens.
For urban areas such as New York City where land is limited, it can be seen as a pretty attractive burial alternative.
Even though human composting is now legal in The Empire State, not everyone is on board with the idea.
"A process that is perfectly appropriate for returning vegetable trimmings to the earth is not necessarily appropriate for human bodies," Dennis Poust, executive director of the New York State Catholic Conference, said in a statement. "Human bodies are not household waste, and we do not believe that the process meets the standard of reverent treatment of our earthly remains."
Recompose, a green funeral home specializing in human composting, also known as natural organic reduction, terramation, or recomposition at Recompose Seattle
"Cremation uses fossil fuels and burial uses a lot of land and has a carbon footprint," Katrina Spade, the founder of Recompose, a full-service green funeral home in Seattle that offers human composting, said. "For a lot of folks being turned into soil that can be turned to grow into a garden or tree is pretty impactful."
<<<
---
>>> Which Billionaire Owns The Most Land In The U.S.? Hint, It's Not Bill Gates
Benzinga
by AJ Fabino
December 7, 2022
https://finance.yahoo.com/news/billionaire-owns-most-land-u-175836135.html
Earlier this year, in May, claims were made that Microsoft Corp co-founder Bill Gates owned the majority of America’s farmland.
While that is false, with the billionaire amassing nearly 270,000 acres of farmland across the country, compared to 900 million total farm acres, a different billionaire privately owns 2.2 million acres, making him the largest landowner in the U.S.
John Malone, the former CEO of Tele-Communications Inc., which AT&T Inc. purchased for more than $50 billion in 1999, has a variety of ranching and real estate businesses, primarily in Maine, New Mexico, Colorado, and Wyoming.
Worth $9.6 billion, Malone, a media veteran, said he purchased the land because "they are not making it anymore." He also owns three hotels in Dublin, Ireland, and a fourth in Limerick.
The current Liberty Media Corp chairman made the decision to put his billions of dollars in wealth into land after spending a summer working on a family farm in Pennsylvania.
Bell Ranch in New Mexico, a 290,100-acre plain dotted with mesas, rimrock canyons, meadows, and a distinctive bell-shaped mountain, was one of his first significant acquisitions. In addition, Florida's Bridlewood Farms is a noteworthy asset.
He now holds the title of the largest landlord in the US, surpassing Ted Turner, with a total of 2.2 million acres of crops, ranch property, and woodland.
Malone noted in a CNBC interview that preservation was his primary motivation for purchasing land, and he intends to purchase more. He said that his properties serve as a reliable source of income and a solid hedge against inflation.
"The conservation of lands is important," the billionaire said. "That was a virus that I got from Ted Turner."
He continued, "the forestry part of it in the Northeast is a pretty good business, with very low return on capital, but very stable and leverageable," Malone said. "And we think it will provide good inflation protection in the long run. That's basically the motivation there. It just seemed like a good thing to do."
<<<
---
>>> Farmland Partners Announces Senior Executive Succession Plan
BusinessWire
November 8, 2022
https://finance.yahoo.com/news/farmland-partners-announces-senior-executive-121000150.html
President Luca Fabbri to Succeed Paul Pittman as CEO; Pittman to Remain Executive Chairman and Full-Time Employee of Company
DENVER, November 08, 2022--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) (the "Company" or "FPI") today announced that its Board of Directors has approved a senior executive succession plan pursuant to which the Company’s President Luca Fabbri will become Chief Executive Officer, effective following the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which is expected to occur in late February 2023. At the same time, Fabbri will join the Company’s Board of Directors. FPI’s current Chairman and Chief Executive Officer, Paul Pittman, will remain as Executive Chairman of the Company’s Board of Directors and as a full-time employee. Pittman and Fabbri will continue to work side-by-side to formulate corporate strategy, execute the Company’s growth plan and drive shareholder value.
Fabbri co-founded FPI as a public company with Pittman in 2014 and served as the Company’s Chief Financial Officer and Treasurer from the Company’s inception, before assuming the position of President in October 2021.
"Luca played a key role in the initial formation, capitalization and formulation of the strategic direction of FPI, has the undivided confidence of our entire team and has over time taken on an increasing number of top executive duties. Moreover, Luca has been a close colleague and friend for many years, and I am confident will work extremely well with me as Executive Chairman," said Pittman. "This appointment is a natural progression in a process started with Luca’s appointment as President in 2021. There is no one I trust more than Luca to help chart a course for FPI’s future, and I look forward to continuing our close collaboration for years to come."
Prior to co-founding FPI, Fabbri was an entrepreneur and executive in finance, technology, and agriculture. He has a B.S. with Honors in Economics from the University of Naples (Italy) and an M.B.A. in Finance from the Massachusetts Institute of Technology.
"I appreciate the confidence that Paul and the Board of Directors have placed in me, and I’m eager to lead FPI’s talented team and continue delivering for our stockholders," said Fabbri. "Farmland is an attractive asset class, and FPI is uniquely positioned to continue providing strong risk-adjusted shareholder returns in all economic environments. I can’t think of a more exciting business to be in right now."
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns and/or manages more than 190,000 acres in 18 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, and Virginia. We have approximately 26 crop types and more than 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.
<<<
---
IFUS fits as an ideal penny stock that is on the ground floor right now.
IFUS has Supreme Gold Plus Bagasse to sell to animals.
IFUS has Bagasse to absorb oil spills on land and water.
IFUS has Intact Nutrition products to help people too.
IFUS has the potential for multiple revenue sources because their combination of Nutri-Mastic and proprietary minerals make other products better.
In the penny world it is usually better to buy at close to the bottom at .015 than buying at .05 0r .10 as Awareness, revenues and news becomes available before year end.
Start your due diligence below
IT is not what you read but what you absorb that matters
https://www.biofuelsdigest.com/bdigest/2021/12/29/ifus-cattle-turning-bagasse-trash-into-a-cash-cow/
https://www.accesswire.com/710625/Impact-Fusion-International-Inc-Pays-its-Outstanding-Taxes-for-its-Property-in-Napoleonville-LA
https://www.cnn.com/2022/07/25/business/drought-farmers-cows/index.html
https://impactfusionbrands.com/
http://www.lrrd.org/lrrd2/2/osorio.htm
https://impactfusionbrands.com/mastic/
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5838343/
Sugarcane by-products: The future feed for animal production
https://www.allaboutfeed.net/all-about/new-proteins/sugarcane-by-products-the-future-feed-for-animal-production/
Animal feed from sugarcane bagasse and trash
https://research.qut.edu.au/biorefining/animal-feed-from-sugarcane-bagasse-and-trash-2/
Sugarcane Bagasse as Exclusive Roughage for Dairy Cows in Smallholder Livestock System
https://www.researchgate.net/publication/320535414_Sugarcane_Bagasse_as_Exclusive_Roughage_for_Dairy_Cows_in_Smallholder_Livestock_System
PubMed Central (PMC)
IFUS STRONG
IFUS fits as an ideal penny stock that is on the ground floor right now.
IFUS has Supreme Gold Plus Bagasse to sell to animals.
IFUS has Bagasse to absorb oil spills on land and water.
IFUS has Intact Nutrition products to help people too.
IFUS has the potential for multiple revenue sources because their combination of Nutri-Mastic and proprietary minerals make other products better.
In the penny world it is usually better to buy at close to the bottom at .015 than buying at .05 0r .10 as Awareness, revenues and news becomes available before year end.
Start your due diligence below
IT is not what you read but what you absorb that matters
https://www.biofuelsdigest.com/bdigest/2021/12/29/ifus-cattle-turning-bagasse-trash-into-a-cash-cow/
https://www.accesswire.com/710625/Impact-Fusion-International-Inc-Pays-its-Outstanding-Taxes-for-its-Property-in-Napoleonville-LA
https://www.cnn.com/2022/07/25/business/drought-farmers-cows/index.html
https://impactfusionbrands.com/
http://www.lrrd.org/lrrd2/2/osorio.htm
https://impactfusionbrands.com/mastic/
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5838343/
Sugarcane by-products: The future feed for animal production
https://www.allaboutfeed.net/all-about/new-proteins/sugarcane-by-products-the-future-feed-for-animal-production/
Animal feed from sugarcane bagasse and trash
https://research.qut.edu.au/biorefining/animal-feed-from-sugarcane-bagasse-and-trash-2/
Sugarcane Bagasse as Exclusive Roughage for Dairy Cows in Smallholder Livestock System
https://www.researchgate.net/publication/320535414_Sugarcane_Bagasse_as_Exclusive_Roughage_for_Dairy_Cows_in_Smallholder_Livestock_System
PubMed Central (PMC)
IFUS STRONG
I live in Illinois. Nice to see good Illinois farm land being purchased.. Do you know how many of thr farms that are purchases or rented back out have cattle or other livestock?
I live in Illinois. Nice to see good Illinois farm land being purchased.. Do you know how many of thr farms that are purchases or rented back out have cattle or other livestock?
I am a strong believer in IFUS because it is a ground floor opportunity most penny players and long term investors only dream about dream.
Srart you dd with the company website.
IFUS will revolutionize the cattle feed industry!
https://impactfusionbrands.com/
I have the perfect one for this board. A stock I have been a shareholder in for 14 years, that I have been a customer of for 9 years, that was nearly dead because a 9 year, to the death struggle, for control, which is now history. That said, as an Introduction I offer the prime rib appetizer for starters.
https://www.biofuelsdigest.com/bdigest/2021/12/29/ifus-cattle-turning-bagasse-trash-into-a-cash-cow/
Be back later with a massive room of DD on it..
>>> Grain ETFs Tick Up as Exports Resume in Ukraine
ETF.com
by Sumit Roy
August 10, 2022
https://finance.yahoo.com/news/grain-etfs-tick-exports-resume-180000260.html
Global food prices may see some much-needed relief following a bilateral agreement to resume grain shipments in Ukraine, which could have a major impact on agriculture exchange-traded funds.
The largest grain-focused ETFs have been on a wild ride this year amid a conflict between two of the biggest exporters in the world, Ukraine and Russia. Twelve ships carrying grain departed Black Sea ports this week, according to Reuters.
The rise in exports is a result of a deal that Ukraine and Russia struck last month. The price of wheat, corn and soybeans fell to multimonth lows immediately after the announcement, though they’ve since clawed back some of their losses.
The Russia-Ukraine deal, a rare show of cooperation between the two warring countries, is scheduled to last 120 days and can be renewed. It was brokered by the United Nations and Turkey, a member of the North Atlantic Treaty Organization, which is highly dependent on imported grain from Ukraine and Russia.
With the deal in place, Ukraine can potentially expand grain exports from 2 million tons per month to 5 million tons per month—which was the amount it exported prior to the invasion. Ukraine also has about 20 million tons of grain sitting in storage facilities.
The agreement also has provisions that allow Russia to export some grains and fertilizers that were held up by U.S. sanctions. The combination of all those additional supplies should help at least slow down food inflation, which was running at more than a 10% rate in the U.S. in June.
Wild Year for Grain ETFs
Prior to the invasion, Ukraine was the fourth largest exporter of corn and the fifth largest exporter of wheat, while Russia was the world’s largest wheat exporter, according to the USDA.
At its highs in May, the $314 million Teucrium Wheat Fund (WEAT) was up as much as 74% on a year-to-date basis; those gains have since been cut to 11%.
The $193 million Teucrium Corn Fund (CORN), the $65 million Teucrium Soybean Fund (SOYB) and the $1.5 billion DBA Agriculture Fund (DBA)—a broader ETF that tracks 10 different agricultural commodities—also saw their gains cut, as can be seen from the chart below:
Still, each of the funds is still up solidly on the year, and they could conceivably rebound if the Russia-Ukraine deal falls apart or if other factors hinder Ukraine’s exports. Since these exports are taking place in a war zone, commercial shipping vessels may be reluctant to operate in disputed waters. Finding crews willing to staff the ships is also difficult.
"Until national navies assist the Ukrainian authorities to sweep these mines and create a safe corridor, seafarers will face significant personal risk sailing through these stretches of water," Stephen Cotton, general secretary of the International Transport Workers' Federation, told Reuters.
In addition to the grain-futures-focused ETFs mentioned above, investors can also consider funds that hold agriculture-related equities, such as the $1.6 billion VanEck Agribusiness ETF (MOO).
This fund holds stocks of companies involved in “agri-chemicals, animal health and fertilizers, seeds and traits, from farm/irrigation equipment and farm machinery, aquaculture and fishing, livestock, cultivation and plantations (including grain, oil palms, sugar cane, tobacco leafs, grapevines, etc.), and trading of agricultural products,” according to the company.
MOO’s top holdings currently are Zoetis Inc., Deere & Co, Nutrien, Bayer AG, Corteva Inc. and Archer-Daniels-Midland Co. The fund has lost 5% year to date, though that’s significantly better than the 13% loss for the broader S&P 500.
<<<
---
>>> Farmland Partners Acquires Two Illinois Farms
BusinessWire
August 3, 2022
https://finance.yahoo.com/news/farmland-partners-acquires-two-illinois-111000217.html
DENVER, August 03, 2022--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: ) (the "Company" or "FPI") today announced the acquisition of two Illinois farms totaling 485 acres.
The first, a 286-acre farm in Edgar County, was purchased for approximately $4.8 million on July 29. FPI also bought a 199-acre farm in Fulton County on August 1 for $1.8 million.
"These farms are especially attractive to our business because they adjoin other farmland in our portfolio, which will allow the Company to expand its footprint in these areas, improve farming efficiency for our tenants, and drive strong rental rates," said FPI Chairman and CEO Paul Pittman.
In addition to rental income, Pittman noted that asset appreciation is a key factor of overall farmland investment returns. Illinois farmland averaged 5.6% in annual appreciation from 1970-2021, according to the U.S. Department of Agriculture.
FPI has acquired 11 farms in 2022, spanning 3,056 acres. It is the nation’s largest publicly traded farmland REIT by U.S. acreage.
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns and/or manages more than 185,750 acres in 18 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, and Virginia. We have approximately 26 crop types and more than 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information: www.farmlandpartners.com or (720) 452-3100.
<<<
---
Bar, Thanks. NOBL has done well.
For dividend ETFs I've been using VYM and SCHD, which have lower expense ratios (.08 and .06 vrs .35 for NOBL). VYM and SCHD also have higher dividend payouts (3.0% and 3.4%, vrs 1. 9%). But NOBL has outperformed VYM over time, so that's the bottom line. Can't really go wrong with any of these :o)
---
The magic ingredient in 2022 hasn't been size per se but whether the stock pays a cash dividend. Consider the NOBL Dividend Aristocrat ETF (my son owns it) which is off just 7.3% YTD, much better than the Dow and the S&P. Lack of dividends is one reason tech is suffering. QQQ is off 21% YTD
Bar, >> mid-cap index fund <<
That's a good idea. Both IJH and Vanguard's (VO) have beaten the S+P 500 longer term. I have some in the Total Stock Market ETF (VTI), so that includes the broader mid and small cap landscape, but I've been thinking about adding a mid cap ETF also.
Mid caps are also a great 'hunting ground' for stock pickers, with way less risk than the micro caps, and stronger balance sheets, proven management teams, actual revenues and earnings, etc.
I see that Investopedia defines mid caps as having $2-10 bil market caps. I had it split into Small Caps (1-5 bil) and Mid caps (5-15 bil), though there has been some slippage higher in all categories over the years due to the long bull market.
Mid Caps -
https://investorshub.advfn.com/Mid-Cap-Ideas-28751
Small Caps -
https://investorshub.advfn.com/Small-Cap-Ideas-28749
(Note - these lists are in need of updating)
---
I've done decently even this year because I *actually* stick with my rules. Only slight variation for me is I've added-in a mid-cap index fund - IJH - in several staged buys over the past few months.
BTW, Index funds were John Bogle's brilliant discovery decades before Buffett became fond of them in the past decade or two. BRK's index holdings in VOO and SPY are pretty small.
https://www.cnbc.com/berkshire-hathaway-portfolio/
>> REED <<
What a disaster that turned out to be. I first noticed them back ~ 2012 when they were having a great year. Being into biotech stocks, I figured that a beverage company like REED just had to be a lot less risky. Wrong.
I followed REED closely (I thought), listened to every conference call, etc, but now realize that I just don't have the ability to accurately analyze individual stocks. Seems obvious now, but I had to learn the hard way. Listening to a Buffett or Peter Lynch gives a sense of what is required, and very few of us have that ability.
What I do now, in addition to the $1000 limit, is mainly to look at the 10 and 20 year chart (has to be a nice steady upward slope). Imo, this is the single best screening tool for a long term buy/hold investment, since it efficiently summarizes everything - the steadiness of the business, quality of management, profitability, etc. And most of these companies also have a decent dividend.
Ah, but the lure of finding a tiny company and getting a 10 bagger, 20 bagger. I figure with a $1000 limit it's still possible to get a big return over time. Winmark (WINA) is the only microcap I've found that has the 10 year chart requirement, and it's been a 20 bagger, though it took 20 years to do it.
---
Bar, >> NEVER buy a microcap <<
Yes, very sound advice. Alternately, limiting an investment to $1000 is another approach. Even with larger caps, having a position limit is a good idea, just look at what happened to GE, Boeing, etc.
Fwiw, I decided to follow Buffett's advice and mainly use the S+P 500 for the bulk of the stock allocation :o)
---
>> Carbon capture pipeline <<
Seems like lunacy, but the lie of 'Climate Change' is actually a brilliant strategy for establishing globalist control over every aspect of life on the planet (Agenda 21). Say what you want about the globalists, but they don't deal in chump change.
They have the broad plan, so how long to implement is the question. Getting the CBDC/Central Bank Digital Currencies in place is key, and the associated Social Credit Score system. After that there should be little organized resistance.
One aspect that isn't clear is how the Western globalists plan to neutralize their main foreign rivals (China, Russia). Presumably they don't want WW 3, but could bumble into it anyway. Historically these 'elites' are genetically inbred (link below), so mental instability can combine with the hubris of power -
Or you can quote me: "NEVER buy a microcap." Good Ben Graham advice, as well. Large caps have outperformed small caps by far in this weak year .
REED, was temped many years ago when it was $2,00. Hve not looked at it in years, see why now.
LAND, another newer reason>>>>>
https://www.youtube.com/watch?v=zaO1asFmVx8&ab_channel=IceAgeFarmer
>> love affair with a turd <<
Yep, I know the siren call that microcaps can have on our psyches. Looking back, many microcaps I thought were promising ended up disasters -
Cortex - now called RSPI (sub-penny)
Polymedix - bankruptcy, now IPIX (4 cents)
Reeds - REED (15 cents)
Orchids Paper (bankruptcy)
Senestech - SNES (50 cents)
Luckily I didn't invest much in these, but the logical conclusion is to follow Warren Buffet's sage advice and mainly stick with index funds. I figure using a $1000 limit will keep the lure of microcaps safely within the realm of a 'hobby' :o)
---
I am just in my love affair with a turd, boo. I really believe the next month will tell a new story. LAND is the only place as of now I would put any of my huge RIBT gains, lol.
Yes, Gates has been big on farmland for some years, and was reportedly the top owner by acreage, but Bezos is also buying huge amounts, so he may now be the top owner. This seems like a good place to invest for the long haul, and provides a great 'hard asset' to help diversify a stock/bond portfolio.
Fwiw, I had some LAND and FPI last year during the big runup and got some nice gains. Then bailed a little early, so missed the peak, but luckily also missed the big drop in LAND. That kind of volatility (LAND) is disconcerting, but the last several weeks I decided to get back in, but this time with only $1000 in each, and will hopefully be a long term buy/hold. Not much, but most of the stock allocation is going into the S+P 500 to keep things simple. There is also a small group of individual stocks and sector ETFs to keep things interesting (link below), but with $1000 limits. Only one micro/small cap (WINA) -
https://investorshub.advfn.com/Portfolio-Ideas-40985
---
With Bill Gates buying farmeland recently>>
https://www.agweb.com/news/business/farmland/bill-gates-north-dakota-farmland-purchase-approved-attorney-general
And Blackrock and Vanguard owning major shares in LAND>>>
https://fintel.io/so/us/land
And Blackrock abd Vanguard control many "Deep State" companies>>>
https://www.nytimes.com/2022/05/12/opinion/vanguard-power-blackrock-state-street.html
And the chart looks good for LAND
https://stockcharts.com/h-sc/ui?s=LAND&p=D&yr=5&mn=0&dy=0&id=p56279202162
I'd like to buy this soon.
>>> Farmland Is an Inflation Hedge. How to Invest.
Barron's
By Lauren Foster
July 29, 2022
https://www.barrons.com/articles/farmland-inflation-hedge-how-to-invest-51659043559?siteid=yhoof2
At a time when stock prices are slumping and inflation is soaring, farmland looks to be an appealing investment. It is a real asset that performs well in inflationary environments, delivers stable returns over long holding periods, and exhibits low correlation to financial assets. What’s more, farmland prices stand to benefit from growing concerns about food and land scarcity.
U.S. farmland has posted an average annual return of 11.2% for the 25-year period that ended in March 2021, according to the advisory group at Green Street, a commercial real estate analytics firm. That compares with a 9.6% gain for the S&P 500 index in the same period. The S&P 500’s return is also much more variable. Historically, its volatility has been more than twice that of farmland.
Two trends are driving the farmland investment thesis now: rising global demand for food and a shrinking supply of arable land. In the past 20 years, more than 11 million acres of U.S. farmland were lost to development. Climate-related factors such as water scarcity are also limiting the supply of arable land.
At the same time, the world’s population is expected to top more than nine billion by 2050—and agricultural productivity will need to double to meet the expected global demand.
Phil Huber, chief investment officer at Savant Wealth Management, says farmland offers compelling risk-reward characteristics and portfolio diversification. “Farmland historically has delivered equity-like returns. But if you look at some of the bigger recent equity drawdowns, during those periods, farmland had positive returns,” he says.
The biggest component of farmland returns has historically been its yield, or the rental income that professionally managed farmland investors have earned from leasing the land to farmers, Huber says. This annual rental income is a fairly smooth contributor to total returns, even during periods when stocks are struggling. The next biggest contributor to returns is the long-term appreciation of the land itself.
Farmland has long been the province of institutional investors. For many years, individual investors had few options for accessing farmland besides buying a piece of land and owning the deed—impractical for most.
Now, individuals have myriad choices with varying risk profiles—from private funds and publicly traded real estate investment trusts, or REITs, that own farmland to exchange-traded funds that own agribusiness companies or hold agricultural-commodity futures contracts.
Shonda Warner is one of a growing number of investors drawn to farmland. She founded Chess Ag Full Harvest Partners, an asset-management company focused on agricultural and food investing, in 2006, and now manages $130 million of assets.
Agriculture offers investors steady returns, says Warner, who can trace her roots in farming to 1865, when Abraham Lincoln signed the deed to the family’s 160-acre farm in Dakota County, Neb., she says. Moreover, returns generally correlate well with food inflation, which is at historic highs. Prices rose at a 9.1% annual pace in June, based on the consumer price index, the biggest jump since late 1981.
Across America’s heartland, farmland prices are rising. The average farm real estate value, including the value of land and buildings, hit a record $3,380 per acre in 2021, driven by higher commodity prices and increasing inflation fears.
Joseph W. Glauber, senior research fellow at the International Food Policy Research Institute and former chief economist at the U.S. Department of Agriculture, expects farm prices to remain strong. “I suspect when we see the USDA numbers come out later this summer, there is still another big, strong increase in land values.”
Farmland was booming a decade ago, driven in large part by soaring crop prices and expanded demand for ethanol, but demand plateaued from 2014 to early 2019 due to oversupply and world events, including the U.S.-China trade war. Things started to turn around in late 2020, when commodity prices began rising as China accelerated imports of U.S. crops. Russia’s invasion of Ukraine, one of the world’s top agricultural producers and exporters, boosted prices even further.
Farmland experiences cycles just like other asset classes, but it is regarded as a store of value during economic turbulence. Farmers are “producing the fundamental requirements of life: food and fiber,” says Martin Davies, global head of Nuveen Natural Capital, the firm’s land-based asset management division. “So, no matter what is happening from an economic point of view, you’re not correlated with the cycle.”
Another reason to consider investing in farmland: While rising interest rates curb companies’ ability to borrow, they have less effect on farmland, as the sector has a low debt-to-asset ratio of 14%.
One challenge facing individual investors eager to cash in on soaring prices is access to farms up for sale. Bruce J. Sherrick, Fruin professor of farmland economics and director of the TIAA Center for Farmland Research at the University of Illinois, says only 1.5% to 2% of farmland in the U.S. transfers annually “at arm’s length,” while a lot more is transferred among family members. The result of the low turnover rate is that it can be hard to assemble a lot of land.
That’s one reason investors turn to publicly traded REITs such as Gladstone Land (ticker: LAND) or Farmland Partners (FPI).
Paul Pittman, chairman and CEO at Farmland Partners, grew up in a farming family and started investing in farmland in the mid-1990s. He bought the farm next to his grandfather’s property and, over the next two decades, built a large personal portfolio that he took public in 2014. The REIT owns more than 340 farms. Since the initial public offering, Farmland Partners has returned nearly 41% in stock gains and dividends.
Investors can also buy shares of a farm through companies such as Fayetteville, Ark.–based AcreTrader. Each deal has a minimum investment, and recent minimums have ranged from $10,000 to $20,000, according to Carter Malloy, founder and CEO. Accredited investors earn their returns through distributions of rental income and the sale of the underlying property.
David Gorder is a farmer in Grand Forks, N.D. When he isn’t tending his own land, where he grows crops such as corn, sugar beets, and durum wheat for his wife’s pasta company, Gorder manages AcreTrader farms and works as a land broker with AcrePro.
“Farmers are the best stewards of the land,” he says. “They understand what needs to be done to that land to keep it productive and to keep being able to feed our world.”
Investors can also access farmland through a real-assets fund, such as Versus Capital Real Assets (VCRRX), managed by Denver-based Versus Capital.
The managers are building a diversified portfolio of land farmed with various types of crops. The fund generated a 10.9% return over the trailing 12-month period to March 31, 2022, and a 6.3% annualized return over the trailing three-year period.
ETFs can’t own farmland directly, but can hold stakes in the agribusinesses that farm the land. Aniket Ullal, head of ETF data and analytics at CFRA Research, says agribusiness-themed equity ETFs have outperformed the broader equity market this year.
The VanEck Agribusiness ETF (MOO), the largest agribusiness-themed equity ETF with $1.5 billion in assets, is down only 6% this year compared with the SPDR S&P 500 ETF (SPY), which has lost 15.6%. The VanEck fund’s largest holdings include Zoetis (ZTS) and Deere (DE).
Futures-based agriculture ETFs have done even better, as they provide more direct exposure to commodity prices. The largest fund, Invesco DB Agriculture (DBA), is up 1% this year. Teucrium Wheat (WEAT) has gained 11%, partly due to the Ukraine conflict.
No matter which way an investor chooses to invest in farmland, the asset class should be viewed as a buy-and-hold opportunity to take advantage of long-term trends: inflation, global food demand, and land scarcity.
<<<
---
>>> Gladstone Land Acquires Vineyards in Washington and Oregon
Accesswire
Gladstone Land Corporation
July 25, 2022
https://finance.yahoo.com/news/gladstone-land-acquires-vineyards-washington-201500555.html
MCLEAN, VA / ACCESSWIRE / July 25, 2022 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") announced that it has acquired 1,317 gross acres of farmland located in Washington and Oregon, for approximately $37.3 million from Horizon Vineyards ("Horizon"), an affiliate of Resource Land Holdings ("RLH"), headquartered in Denver, Colorado. In connection with the acquisition, Gladstone Land also assumed several long-term, triple-net vineyard leases with an industry-leading grower.
"We are very pleased to acquire these vineyards with strong water resources," said Tony Marci, Managing Director of Gladstone Land. "The vineyards are managed by an outstanding tenant who produces premium wine grapes for their extensive list of customers. It was great to work with RLH throughout this transaction, as we were able to achieve the goals of all parties involved."
Joe Leininger, Founding Partner of Resource Land Holdings commented, "RLH has greatly valued its partnership with the team managing these vineyards, and we look forward to watching them continue to expand their brand and further reinforce their reputation as a leader within the industry. We have had the pleasure of working with Gladstone Land on multiple occasions within the past year and know that they will be an exceptional long-term partner for the existing operator for many years to come."
"Purchasing vineyards in Washington and Oregon adds diversification to our farmland holdings by both crop type and geographic region," said David Gladstone, President and CEO of Gladstone Land. "We are impressed by the quality of these vineyards, as they are well maintained, and the gradual replanting plan implemented by the tenant keeps the varieties in line with customer demand. We continue to evaluate additional farms to acquire as we work towards another successful year."
About Gladstone Land Corporation:
Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of over 115,000 acres in 15 different states and 45,000 acre-feet of banked water in California, valued at a total of over $1.5 billion. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 10 to 20-plus years and harvested annually. Approximately 40% of the company's fresh produce acreage is either organic or in transition to become organic, and over 10% of its permanent crop acreage falls into this category. The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. Gladstone Land pays monthly distributions to its stockholders and has paid 113 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The Company has increased its common distributions 27 times over the prior 30 quarters, and the current per-share distribution on its common stock is $0.0456 per month, or $0.5472 per year. Additional information, including detailed information about each of the Company's farms, can be found at www.GladstoneLand.com.
<<<
---
>>> Farmland Partners Inc. Reports Second Quarter 2022 Results
Businesswire
July 26, 2022
https://finance.yahoo.com/news/farmland-partners-inc-reports-second-000000872.html
FPI Significantly Improves Operating Performance, Reduces Leverage, Raises Guidance, and Continues to Grow Portfolio
DENVER, July 27, 2022--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) ("FPI" or the "Company") today reported financial results for the three and six months ended June 30, 2022.
Selected Q2 2022 Highlights
During the three months ended June 30, 2022, the Company:
increased net income by $5.9 million to $3.0 million, or $0.04 per share available to common stockholders, compared to $(2.9) million, or $(0.19) per share available to common stockholders, for the same period in 2021;
increased AFFO by $4.8 million to $1.1 million, or $0.02 per share, from $(3.6) million, or $(0.11) per share, for the same period in 2021;
decreased debt by $38.4 million, while maintaining $32.0 million of undrawn capacity under its line of credit, bringing total debt to enterprise value to approximately 33.7%;
has renewed over one-third of leases expiring in 2022 at average rent increases in excess of 15%; and
received a federal judge’s dismissal of the class action lawsuit brought against FPI, which stemmed from a 2018 short and distort attack against the Company (link).
CEO Comments
Paul A. Pittman, Chairman and CEO said: "The second quarter of 2022 was an outstanding quarter in all respects—AFFO increased $4.8 million and operating income was up over 250% compared Q2 2021. Operations benefited from higher rents on fixed leases, increased fee revenue resulting from the 2021 acquisition of Murray Wise Associates, and lower capital costs (both interest and preferred distributions) resulting from the significant de-leveraging of the balance sheet. Across all row-crop regions, farmland values continue to appreciate strongly. In addition, we achieved total vindication from the 2018 short and distort scheme through the dismissal of the class action lawsuit against FPI, allowing management to focus attention on growing the business to deliver solid value to our shareholders. Despite pressure on the general economy, our outlook for 2022 remains positive, and we have increased both the bottom and top ends of our guidance range issued in May."
Financial and Operating Results
The tables below show financial and operating results for the three and six months ended June 30, 2022 and 2021. The values are shown as reported and after adjusting for litigation items.
Legal and accounting expense for the three months ended June 30, 2022 and 2021 included $0.3 million and $2.7 million, respectively, related to litigation. Revenue for the three months ended June 30, 2022 and 2021 included $— million and $0.6 million, respectively, of litigation settlement proceeds related to the Rota Fortunae case.
Legal and accounting expense for the six months ended June 30, 2022 and 2021 included $1.2 million and $5.2 million, respectively, related to litigation. Revenue for the six months ended June 30, 2022 and 2021 included $— million and $0.6 million, respectively, of litigation settlement proceeds related to the Rota Fortunae case.
(2)
Please note change in the definition of NOI to include cost of goods sold.
See "Non-GAAP Financial Measures" for complete definitions of AFFO, Adjusted EBITDAre, and NOI and the financial tables accompanying this press release for reconciliations of net income to AFFO, Adjusted EBITDAre and NOI.
Acquisition and Disposition Activity
During the six months ended June 30, 2022, the Company completed nine property acquisitions for total consideration of $28.2 million.
During the six months ended June 30, 2022, the Company completed five property dispositions for cash consideration of $16.9 million and total gain on sale of $4.0 million (or 30.6%).
Balance Sheet
During the six months ended June 30, 2022, the Company sold 7.0 million shares of common stock at a weighted average price of $14.00 for aggregate net proceeds of $98.4 million under its "at-the-market" offering programs. After the end of the quarter, the Company sold an additional 247,416 shares of common stock at a weighted average price of $14.17 for aggregate net proceeds of $3.5 million.
As of July 22, 2022, the Company had 54,283,413 shares of common stock outstanding on a fully diluted basis.
The Company had total debt outstanding of $426.5 million at June 30, 2022, compared to total debt outstanding of $513.4 million at December 31, 2021. Debt as a percentage of enterprise value was approximately 33.7% at June 30, 2022, compared to approximately 44.1% at December 31, 2021.
The company had Series A preferred units of $113.7 million outstanding after the redemption of $5.0 million of Series A preferred units in the quarter.
The Company had liquidity of $51.7 million, consisting of $19.7 million in cash and $32.0 million in undrawn availability under its credit facility at June 30, 2022, compared to cash of $30.2 million at December 31, 2021.
Dividend Declarations
The Company’s Board of Directors declared a quarterly cash dividend of $0.06 per share of common stock and per Class A Common OP unit. The dividends are payable on October 17, 2022, to stockholders and common unit holders of record on October 1, 2022.
Conference Call Information and Supplemental Package
The Company has scheduled a conference call on July 27, 2022, at 1:00 p.m. (Eastern Time) to discuss the financial results and provide a company update.
The call can be accessed by dialing 1-844-200-6205 (USA), 1-833-950-0062 (Canada), or 1-929-526-1599 (other locations) and using the access code 882915. The conference call will also be available via a live listen-only webcast and can be accessed through the Investor Relations section of the Company's website, www.farmlandpartners.com.
A replay of the conference call will be available beginning shortly after the end of the event until August 8, 2022, by dialing 1-866-813-9403 (USA), 1-226-828-7578 (Canada), or +44 (20) 4525-0658 (other locations) and using the access code 371344. A replay of the webcast will also be accessible on the Investor Relations section of the Company's website for a limited time following the event.
A supplemental package can be accessed through the Investor Relations section of the Company's website.
About Farmland Partners Inc.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of June 30, 2022, the Company owns and/or manages approximately 185,300 acres in 18 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, North Carolina, Nebraska, South Carolina, and Virginia. We have approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014. Additional information:
<<<
---
>>> Russia will allow Ukraine to export grain in U.N.-brokered bid to alleviate global food crisis
NBC News
7-22-22
https://www.nbcnews.com/news/russia-ukraine-grain-export-food-crisis-turkey-un-rcna39529
Ukraine is one of the world’s biggest grain exporters, but the Russian invasion has blocked shipments, sending the price of food soaring worldwide.
The United Nations, Russia, Ukraine and Turkey on Friday agreed to allow the export of Ukrainian grain in a bid to alleviate a global food crisis.
Ukraine is one of the world’s biggest grain exporters, but the Russian invasion has blocked shipments, sending the price of food soaring and plunging millions into food insecurity worldwide. The U.N. has warned shortages could push some countries to the edge of famine.
“The fact that two parties at war, and still very much at war, have been able to negotiate … these kinds of commercial agreements to help the world, which is suffering from that war, I think that’s unprecedented. It’s an extraordinary achievement,” the U.N.’s emergency relief coordinator, Martin Griffiths, said before the deal was signed.
The plan represents a de facto cease-fire between Ukraine and Russia along identified shipping routes, and is a big breakthrough, symbolically at least. However, similar agreements have failed in the past amid mutual mistrust and accusations of violations, raising questions about the viability of the scheme.
U.N. Secretary-General Antonio Guterres and Turkish President Recep Tayyip Erdogan attended the signing ceremony in Istanbul.
“Today, there is a beacon on the Black Sea,” Guterres said. “A beacon of hope, a beacon of possibility, a beacon of relief in a world that needs it more than ever.”
Addressing the Russian and Ukrainian representatives, he said they had “overcome obstacles and put aside differences to pave the way for an initiative that will serve the common interests of all.”
Guterres added that the accord opened the way to significant volumes of commercial food exports from three key Ukrainian ports, Odesa, Chernomorsk and Yuzhny. The U.N. would set up a coordination center to monitor implementation of the deal, he added.
Russia and Ukraine supply more than half of the world’s sunflower oil and about 30 percent of the world’s wheat, the U.N. says.
The agreement will see Ukrainian pilot vessels lead merchant ships through minefields in and out of Ukrainian ports, allowing shipments through the Black Sea and out through the Bosporus.
Operations will be overseen by a joint coordination committee in Istanbul, where U.N. and Turkish monitors would ensure vessels heading into Ukraine are not carrying weapons.
The merchant ships will not have a military escort, but a minesweeper could be deployed if there are any issues with mines, U.N. officials said during a briefing before the deal was officially announced.
Both Ukraine and the U.N. agreed it would not be necessary to demine the area around Ukraine’s ports, the U.N. officials said, adding that parties to the plan had consulted with the commercial sector to ensure insurance premiums would not be punitive.
The plan was expected to be implemented over the coming weeks, just in time to empty Ukrainian silos of last year’s stock and make room for this year’s harvest.
With large swaths of Ukrainian farmland and port infrastructure under Russian rocket fire, it is still too soon to know how much grain can be safely exported.
Prices of wheat and other agricultural commodities have tumbled in recent weeks from highs set just after Russia’s Feb. 24 invasion of Ukraine, with analysts attributing the fall to slowing economies, improved crop forecasts and the prospect of a deal to unlock Ukrainian grain exports.
The spike in prices shortly after the invasion drove 71 million people worldwide into poverty, the U.N. said.
Food inflation, including for staples such as bread and cooking oil, threatened to destabilize some countries and exacerbate famine in some of the world’s poorest regions.
Eighteen of the world’s least developed countries import more than half their wheat from Ukraine or Russia, U.N. Secretary-General António Guterres said earlier this year.
<<<
---
>>> Gladstone Land Announces Increase in Monthly Cash Distributions for July, August and September 2022 and Second Quarter Ended June 30, 2022, Earnings Release and Conference Call Dates
Yahoo Finance
July 12, 2022
https://finance.yahoo.com/news/gladstone-land-announces-increase-monthly-201300881.html
MCLEAN, VA / ACCESSWIRE / July 12, 2022 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") announced today that its board of directors declared the following cash distributions for each of July, August and September 2022.
Monthly Cash Distributions:
Common Stock: $0.0456 per share of common stock for each of July, August and September 2022, payable per the table below:
The Company has paid 113 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 27 times over the prior 30 quarters. The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders. For more information regarding the DRIP, please visit www.GladstoneLand.com.
Series B Preferred Stock(Nasdaq:LANDO): $0.125 per share of Series B Preferred Stock for each of July, August and September 2022, payable per the table below:
The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.
Series C Preferred Stock(Unlisted): $0.125 per share of Series C Preferred Stock for each of July, August and September 2022, payable per the table below:
The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date.
Series D Preferred Stock (Nasdaq: LANDM): $0.104167 per share of Series D Preferred Stock for each of July, August and September 2022, payable per the table below:
The Company has not skipped, reduced, or deferred a monthly Series D Preferred Stock distribution to date.
Earnings Announcement:
The Company also announced today that it plans to report earnings for its second quarter ended June 30, 2022, after the stock market closes on Tuesday, August 9, 2022. The Company will hold a conference call on Wednesday, August 10, 2022, at 8:30 a.m. EDT to discuss its earnings results. Please call (877) 407-9046 to join the conference call. An operator will monitor the call and set a queue for questions.
A conference call replay will be available after the call and will be accessible through August 17, 2022. To hear the replay, please dial (877) 660-6853 and use playback conference number 13730111.
The live audio broadcast of the Company's conference call will also be available online at www.GladstoneLand.com.
About Gladstone Land:
Gladstone Land is a publicly-traded real estate investment trust that invests in farmland located in major agricultural markets in the U.S., which it leases to farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 165 farms, comprised of approximately 114,000 acres in 15 different states, and 45,000 acre-feet of banked water in California, valued at a total of over $1.5 billion. Additional information can be found at www.GladstoneLand.com.
<<<
---
>>> Gladstone Land Acquires Olive Orchard in California
Yahoo Finance
June 21, 2022
https://finance.yahoo.com/news/gladstone-land-acquires-olive-orchard-123000153.html
MCLEAN, VA / ACCESSWIRE / June 21, 2022 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") announced that it has acquired 1,374 gross acres of farmland located in Glenn County, California, for $24.5 million from Solum Partners ("Solum"), headquartered in Boston, Massachusetts. In connection with the acquisition, Gladstone Land also entered into a 15-year, triple-net lease agreement with California Olive Ranch, Inc. ("California Olive Ranch"), reported to be the largest miller of olives for extra virgin olive oil ("EVOO") in the U.S. and the producer of the nation's top-selling 100% California EVOO.
"We are very pleased to strengthen our relationship with California Olive Ranch," said Tony Marci, Managing Director of Gladstone Land. "This farm near Artois, California, is a very nice olive orchard with two sources of water that increases our farmland ownership within the Sacramento Valley. It was great to work with Solum throughout this transaction, as we were able to achieve the goals of both parties."
"We value our relationship with California Olive Ranch and are pleased with the opportunity to increase the amount of land we lease to them," said David Gladstone, President and CEO of Gladstone Land. "This orchard is a great addition to our portfolio, as we like the diversification that olives provide. We continue to evaluate additional farms to acquire as we work towards another successful year."
About Gladstone Land Corporation:
Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 165 farms, comprised of approximately 114,000 acres in 15 different states and 45,000 acre-feet of banked water in California, valued at a total of over $1.5 billion. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 10 to 20-plus years and harvested annually. Approximately 40% of the company's fresh produce acreage is either organic or in transition to become organic, and over 10% of its permanent crop acreage falls into this category. The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. Gladstone Land pays monthly distributions to its stockholders and has paid 112 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The Company has increased its common distributions 26 times over the prior 29 quarters, and the current per-share distribution on its common stock is $0.0454 per month, or $0.5448 per year. Additional information, including detailed information about each of the Company's farms, can be found at www.GladstoneLand.com.
<<<
---
>>> Gladstone Land Provides Business Update
Yahoo Finance
June 13, 2022·
https://finance.yahoo.com/news/gladstone-land-provides-business-123000292.html
MCLEAN, VA / ACCESSWIRE / June 13, 2022 / Gladstone Land Corporation (NASDAQ:LAND) ("Gladstone Land" or the "Company") announced that, in light of the recent price volatility of its common stock (largely following the overall market), it is providing the following business updates to its shareholders:
Inflation Hedge: With inflation continuing at the highest rates seen in over four decades, farmland, as an overall asset class, continues to act as a strong hedge against inflation. According to the U.S. Bureau of Labor Statistics, CPI grew at an annual rate of 8.6% through May 2022. However, food prices have continued to outpace the rate of inflation, with the overall food segment increasing by 10.1% over that same period, and the food at home segment (which encompasses the majority of the crops grown on Gladstone Land's farms) growing by 11.9%. In addition, according to the NCREIF Farmland Index, which, as of March 31, 2022, consisted of 1,284 farms worth approximately $14.4 billion across the U.S., the total return on U.S. farmland (including appreciation and income) was 9.7% for the 12 months ended March 31, 2022 (results released quarterly). Farmland has historically performed well in both inflationary times (as well as in recessionary times), and the Company's management expects these trends to continue in light of the current inflationary environment.
Western Drought: California (and the Western U.S. in general) continues to struggle with a multi-year drought, as snowpack levels, year-to-date precipitation, and reservoir levels are all below historical averages at most locations throughout the state. These drought conditions are driving farms with poor overall water availability, particularly those with only one source of water, to decrease in value, while farms with more secure water resources continue to increase in value. During the quarter ended March 31, 2022, 23 of the Company's farms in California were revalued via third-party appraisals. Overall, these farms increased in value by approximately $13.0 million, or 5.4%, over their prior valuations from about a year ago. Management attributes this to the diligence process followed by our deal team in identifying prime farmland with strong (and in most cases, multiple) sources of water.
Increased Input Costs: Certain input costs, particularly fertilizer and transportation costs, have surged over the past year. However, market situations like the current one, with food prices also rising faster than inflation, help to mitigate the impact of these rising costs. Further, many larger farmers, especially the types of tenants we generally lease to, had already locked in fertilizer and diesel prices at the start of the year. As of today, management is not aware of any significant impact to the Company's tenants, and none of them have reported reducing acreage as a result of rising input costs.
Almond Exports: According to the Almond Board of California, California produces approximately 80% of the world's conventional almonds (including 100% of the U.S. commercial supply), with approximately 65% of the crop exported to more than 90 countries worldwide. Recently, shipping issues at various ports on the west coast had led to a large portion of the 2021 crop remaining in storage until they could be shipped overseas. However, thanks in large part to persistent advocacy campaigns by the Almond Alliance of California, relief to the volume build-up is now underway, as containers and equipment to ship almonds overseas have again been made available. While this relief comes just in time for the upcoming crop to be harvested, a significant volume build-up of the 2021 crop remains. As such, pricing of almonds is expected to remain soft through at least the beginning of summer.
ESG Initiatives: Gladstone Land announced the following regarding certain sustainability initiatives it has recently taken or is currently undertaking:
The Company currently has solar arrays on 12 of its farms in California, which generate electricity to power the operations on the farms, and windmills on 6 of its farms in Colorado, which power certain wells.
The Company is close to finalizing an agreement to add up to 60 wind turbines, 1,600 acres of solar panels, and additional infrastructure as part of a renewable energy agreement on 16,500 acres. The Company is in negotiations to potentially install additional wind turbines and solar panels on certain other farms, as well.
The Company owns a 3,586-acre "water farm" in Florida that is part of a state-funded project to divert nutrient-rich tributary water that can cause damaging algae blooms in coastal ecosystems.
Many of the Company's farms (including a majority of its farms in California) are enrolled in various conservation programs.
Management intends to release a report noting further ESG initiatives in the near future.
Lease Renewals and Upcoming Expirations: Since May 10, 2022, the Company has renewed the lease on one of its farms in Colorado, which is expected to result in an increase in annual net operating income (inclusive of participation rents received under the prior lease) of approximately $149,000, or 48.3%. The Company only has one lease expiring over the next six months, which makes up less than 0.5% of its total annual lease revenues. Management currently expects the renewal of this lease to be flat-to-slightly-higher relative to the current lease.
Current Debt and Increases in Interest Rates: The Company currently has approximately $665.7 million of total debt outstanding (excluding mandatorily redeemable term preferred stock). Over 99.8% of these borrowings are at fixed rates, and on a weighted-average basis, the interest rate on these borrowings is fixed at just 3.25% for the next 5.3 years. As such, management believes its current debt situation is well-protected against continued interest rate increases, as is currently expected.
Participation Rents: The Company recorded approximately $5.2 million of additional revenue from participation rents during fiscal year 2021, as compared to approximately $2.4 million in each of 2020 and 2019. Management is currently expecting another strong year of participation rents, as the Company has several additional farms with participation rent components becoming active for the first time during 2022. However, the Company is still awaiting final numbers for crop pricing and yields on most of these farms and looks forward to releasing these results during the second half of the year.
Acquisition Outlook: The Company currently has three prospective farmland acquisitions under signed purchase and sale agreements for a total of approximately $85 million that it hopes to complete over the next few months. From 2019 through 2021, the Company acquired over $806 million of new farms, with approximately 79% of these being completed during the last seven months of each fiscal year. Following a similar fashion, management expects acquisition activity to pick up during the second half of the year.
Comments from David Gladstone: "Despite the decrease in the price of our common stock from all-time highs a couple of months ago, we believe our operations remain sound. We delivered very strong operating results for the first quarter of the year, as our AFFO per common share of 18.5 cents provided ample coverage of our dividend of 13.6 cents and was actually the third highest AFFO-per-share figure achieved during any quarter since our inception. We will continue to monitor the drought situation in the west, but at this time, we believe all of our farms have sufficient water to complete the current and next year's crop cycle."
About Gladstone Land Corporation:
Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 164 farms, comprised of approximately 113,000 acres in 15 different states and 45,000 acre-feet of banked water in California, valued at a total of approximately $1.5 billion. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The company also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 10 to 20-plus years and harvested annually. Approximately 40% of the company's fresh produce acreage is either organic or in transition to become organic, and over 10% of its permanent crop acreage falls into this category. The company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. Gladstone Land pays monthly distributions to its stockholders and has paid 112 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The company has increased its common distributions 26 times over the prior 29 quarters, and the current per-share distribution on its common stock is $0.0454 per month, or $0.5448 per year. Additional information, including detailed information about each of the company's farms, can be found at www.GladstoneLand.com.
<<<
---
Yes, the LAND chart looks like it could bounce, but a lot of other charts are also looking that way right now. Bargains galore out there, but the broader market is what has me concerned, with recession almost certainly coming and the hawkish Fed firmly locked in its fight with inflation. GDP was already negative in Q1, and now they are saying Q2 will likely be negative too, so by the standard definition that would mean a recession is already upon us.
With LAND there is also that huge 50% crash recently, so it's one scary looking chart. For now it's holding at the mid 2021 trading range support level, but another shoe could conceivably drop for LAND (to the mid-teens?) as the broader market resumes its fall. Farmland plays could also respond badly once inflation starts to tick lower. So for now I'm refraining from the temptation to go bargain shopping :o)
Fwiw, my current strategy is to very gradually average back into the stock market using the S+P 500 index. I buy one share of the ETF every trading day (alternating between SPY and VOO), and the idea is to continue this accumulation until the end of the year. If things really tank then I'll increase the amount purchased, and then pile in bigger when/if there is capitulation. But only ~ $2 K invested so far since it's only been 6 days of purchases. Anyway, I figure it's 'a plan' :o)
Btw, I was over on the BABYF board recently, in part to see if there are any long term holders with some deep insights,
similar to you with RIBT. Not very illuminating on the BABYF board though, but I tried. I should follow the company more closely via my own research, but am lazy :o) Some of these stock specific I-Hub boards have a few extremely well informed investors, but it's rare.
---
I know nothing about either, but like the LAND chart.
https://stockcharts.com/h-sc/ui?s=LAND&p=D&yr=2&mn=7&dy=0&id=p48533542458`
Farmland Partners - >>> 2 REITs That Are Up Despite the Market Being Down
Motley Fool
By Liz Brumer-Smith
Jul 7, 2022
https://www.fool.com/investing/2022/07/07/2-reits-that-are-up-despite-the-market-being-down/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
KEY POINTS
High-quality dividend stocks can help offset some losses with reliable income.
Agree Realty is up over 1% this year and 10% over the last three years.
Farmland Partners is up close to 13% this year and over 94% in the last three years.
These 2 REITs may help offset some portfolio losses during the current bear market.
With the S&P 500, Dow Jones Industrial Average, and tech-heavy Nasdaq Composite down 21%, 15%, and 30%, respectively, investors are on the lookout for stocks that can offer some reprieve in the down market.
Dividend stocks like real estate investment trusts (REITs) are an appealing buy in volatile markets because of the consistent income they can provide. Concern over rising interest rates has hit most REITs hard. But Agree Realty (ADC -0.58%) and Farmland Partners (FPI -2.01%) are among the few REITs that are up this year.
Here's a closer look at these two winning REITs and if they are a good investment in the current bear market.
Farmland Partners
Farmland Partners, the largest REIT specializing in the ownership and leasing of farmland, is making a big comeback after several challenging years. In 2018, it entered into a lawsuit against a short seller. In early 2022, roughly four years later, Farmland was declared the winner, but the long and expensive legal battle hurt share prices and forced the REIT to cut its dividends in the interim. Thankfully, things are looking up for the company.
Around March 2022, when inflation concerns were mounting, investors' interest turned to farmland for diversification into an essential and inflation-resistant commodity -- food. Year to date, Farmland Partners' share price is up over 12%. Coupled with its recovery from the lawsuit as well as its recent pivot toward more farmland brokerage services, the company is in a solid position for continued growth.
As of Q1 2022, Farmland Partners had interest and ownership in 186,000 acres of farmland across 19 states, which includes 25,000 acres of land managed by third parties. Its new management service is a pivotal part of its long-term growth model, which was kick-started with the acquisition of Murray Wise Associations, a farmland brokerage that handles farmland auctions and farm management.
Its dividend return is low at 1.5%, the same as the S&P 500. The company is shifting away from the higher dividend-paying REIT model in order to achieve faster growth. This means investors shouldn't expect much in terms of dividend raises, but given the movement of the stock this year already, there's a good chance its price will keep rising.
<<<
---
Farmland - >>> What's Next in Real Estate? 3 Investors Weigh In
Motley Fool
By Liz Brumer-Smith, Mike Price, and Kristi Waterworth
Jul 10, 2022
https://www.fool.com/investing/2022/07/10/whats-next-in-real-estate-3-investors-weigh-in/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
Mike Price: The long-term case for investing in farmland is clear: The amount of arable land worldwide is falling and the number of humans needing to eat is rising. This creates a reduction in supply and an increase in demand. The short-term case is fuzzier.
Most likely, farmland will continue to do well over the next six months as long as inflation stays high. When food prices go up, owners of farmland make more money and require more to sell the land. According to the Bureau of Labor Statistics, the May food at home price index rose 11.9% over the preceding 12 months; that's the most it has risen over any 12-month period since 1979.
The Fed is working on it -- there have been several rate hikes already this year -- but so far, there's no end in sight for inflation. According to the NCREIF, total farmland returns were around 7.8% in 2021, with half coming from price appreciation and half coming from income. Debt isn't flowing as easily to buyers now as it was in 2021, but you can expect at least that level of return from farmland for the full year of 2022, because income will increase along with the food price inflation.
Gladstone Land Corporation
What does it mean for individual investors? The most common way for individuals to invest in farmland is with the two big farmland REITs: Gladstone Land (LAND 0.68%) and Farmland Partners (FPI -2.01%). Both had spectacular returns in 2021, as rumors of the coming inflation started to materialize into facts. But both have fallen like most REITs so far in 2022. Gladstone is down around 35% year to date, and Farmland Partners is down 20 %.
The two REITs have different strategies. Gladstone focuses on healthy crops with grains as a secondary focus. Farmland Partners is more vertically integrated. In addition to owning and leasing farmland, it brokers farmland sales, runs auctions, and farms some of its own land and land that it leases from others.
Both REITs should have good FFO growth in 2022, with Farmland Partners moving from losing money to making it, and both REITs recently announced increased dividends. I lean toward thinking that the market soured on the two REITs so far this year because it was down on REITs in general. If they have good Q2s, they'll likely do well over the rest of the year.
<<<
---
I think the reddit guys left Thursday and Friday
Yes, looks like a lot of the commodities are coming back down to earth after their big runups. When the inflation numbers start to moderate convincingly, that might be the bottom for the stock market. But the next question is how deep/long will the recession be? Lots of unknowns and landmines, but also a lot of investor cash on the sidelines waiting to get back in. I'm figuring that a gradual re-entry back into stocks makes sense, maybe over the next 6, 9, 12 months.
With RIBT, it does seems like it could be in an interesting niche. With the Twitter/Reddit fast buck crowd now involved, that complicates things, but hopefully some of them will stay as longer term investors.
>> 4th big plans <<
Actually, no plans as of now. Truth be told, being retired has become boring, but I try to view every day as a gift and make the best of it :o)
---
>>> ‘Upcycling’ promises to turn food waste into your next meal
The Conversation
June 22, 2021
https://theconversation.com/upcycling-promises-to-turn-food-waste-into-your-next-meal-157500#:~:text=Enter%20%E2%80%9Cupcycling.%E2%80%9D%20That's%20the,jellies%20made%20from%20overripe%20fruit.
How would you like to dig into a “recycled” snack? Or take a swig of juice with “reprocessed” ingredients made from other food byproducts? Without the right marketing, these don’t sound like the most appetizing options.
Enter “upcycling.” That’s the relatively recent term for the age-old concept of using low-valued foods or food processing byproducts to generate new food products. Time-honored examples of this concept include sausages made from meat scraps and jams or jellies made from overripe fruit. In many cases, this waste would have otherwise been used as animal feed or sent to the compost pile.
A certification program may soon label products you’ll see at your local store. Upcycled Food Association
The Upcycled Food Association defines upcycled foods as those that “use ingredients that otherwise would not have gone to human consumption, are procured and produced using verifiable supply chains, and have a positive impact on the environment.” An official definition may allow manufacturers to market to a target audience and encourage consumers and food processors to consider upcycled products. The Association launched a new Upcycled Certification Standard in 2021. Soon enough you may notice an upcycled label on items at the grocery store.
Food waste is a monumental problem, and this nascent trend, with a buzzy new name designed to appeal to consumers, could help. As an economist and a food engineer, we’ve worked with food companies to minimize waste and find markets for underutilized or otherwise trashed food items. Here’s how upcycling works.
More than 40% of some fragile crops end up wasted.
Massive amounts of food get wasted
Globally, more than one-third of all current food production will be lost or wasted somewhere between the farm or ranch and the consumer’s garbage can. Food “losses” may be due to improper handling or storage conditions on the farm or in the food distribution process, whereas food “waste” often results from limited retail shelf life or consumers simply not making use of perishable products before they spoil in the fridge.
Worldwide annual loss estimates for highly perishable crops, such as fruits and vegetables, exceed 20%, with certain leafy greens and tropical fruits exceeding 40%. In the U.S. alone, estimates of food loss and waste in recent years have ranged from US$200 billion to $300 billion. Both the World Trade Organization and the U.N. Food and Agriculture Organization have increased emphasis on preventing food insecurity by minimizing food loss and food waste.
In addition to the financial impact, food waste also contributes to environmental problems. The FAO estimates that about 8% of the world’s total greenhouse gas emissions can be traced to the carbon footprint of food loss and waste. Landfills generate greenhouse gas emissions, and recent U.S. Environmental Protection Agency estimates indicate food waste is the single largest contributor to landfill volume, making up more than a fifth of what ends up at the dump.
In addition, when food is wasted, all of the natural resources used to produce the food, including water, energy and land resources, are wasted.
Peels, shells and past-their-prime ingredients
From an economics standpoint, finding market outlets for otherwise wasted products makes sense, and the food industry recognizes that fact. Much of what’s left over as waste once a food is processed contains valuable nutritional components, even though it’s currently only used for animal feed or just thrown away. Fortunately, current laws require animal feed to be treated the same as human food, so many waste streams are already handled using sanitary practices and are safe for human consumption.
Snack bars and breakfast cereals can incorporate upcycled ingredients.
A number of economically viable upcycled products are currently on the market. Fruit pomace – all the fibrous bits left after fruit juice production – bolsters the flavor and nutritional content of snack foods. Wheat middlings – everything left after milling that’s not flour – are added to breakfast cereals to increase the content of vitamins, minerals and fiber. Whey protein from cheese production increases the protein content of health bars and protein shakes.
There’s flour made from the pulp byproducts of soybean and almond milk production, which is sold as baking mixes or upcycled flours. There’s craft beer that uses surplus unsold bread as the fermentation substrate. One group collects and distributes second-tier produce before it goes bad. Other examples include pecan shell flour, dried vegetable peels as soup ingredients, and powders made from waste fruits and vegetables that can be added to beverages and snack bars.
With our colleagues here at the Robert M. Kerr Food and Agricultural Products Center at Oklahoma State, we’ve had the opportunity to work on a number of products that would be considered upcycled foods.
Ideas for new upcycled products come from researchers within our facility who identify a waste stream with untapped potential, or they originate with an entrepreneur who has a product idea. Either way, interdisciplinary teams here brainstorm ideas, create experimental prototypes and eventually conduct sensory evaluations – addressing the look, taste, aroma or texture of a potential new product.
Volunteers come in to perform sensory evaluations of the possible new product – how does it look, taste, smell and feel? FAPC Communication Services, CC BY-ND
One recent example is the creation of a new snack chip from brewer’s spent grain, the solid waste generated in the beer-brewing industry. Another current project is the creation of Kpomo. Also known as Ponmo or Kanda in Nigeria, where it’s traditionally popular, this food is made from beef hide that’s been cleaned and precooked.
With any food product, consumer acceptance depends largely on taste, convenience and price. Moving forward, food processors will still need new products made from waste resources to make economic sense. But research has shown that the term “upcycled” as a proxy for environmental sustainability on a food label resonates with both millennials and baby boomers and can make them more likely to buy these products. Foods labeled “upcycled” await your shopping dollars now.
<<<
---
>>> RiceBran Technologies (RIBT.Q), the hottest stock in agriculture, has a lot of upside room!
Equity.Guru
Vishal Toora
May 27, 2022
https://equity.guru/2022/05/27/heres-why-ricebran-technologies-is-the-hottest-stock-in-agriculture/
There is one really hot stock in the Agriculture space right now. That stock is RiceBran Technologies (RIBT). I have had many readers ask me to include them in future Agriculture sector roundups. I took a look at the company and immediately spotted a nice looking chart. A reversal pattern set up which I mentioned in a roundup on May 13th 2022. A week later and we confirmed the breakout that I was calling for. RiceBran Technologies made an appearance in last week’s roundup as it was one of the top 3 agriculture stocks of the week.
My technical analysis was well received on Twitter, and that is where I saw the popularity of this stock. I don’t recall seeing a small cap stock with such a popular following in recent times. Readers know that I believe agriculture is going to provide some great returns for investors. With the recent stock market sell off, I am looking to pick up beat down stocks. This is where the technicals can come in as I hunt for bottoming/reversal setups. What gets me even more excited is when you have the deadly duo combination.
When the technicals and the fundamentals align, you have a high probability of getting a success on an investment. I am here to say that RiceBran Technologies fits the bill. The technicals have confirmed a breakout, and in this article I will talk about what I want to see next. The fundamentals for agriculture are bullish for ag stocks. I am talking about rising food prices, supply chain issues, potash and fertilizer shortages, and unpredictable weather patterns impacting growing and harvesting. I do hope I am incorrect with this prediction, but I do think come Fall of this year, we will be hearing about food shortages and seeing more empty supermarkets.
How about news that is rice related? Recently, India has been banning exports of agriculture. A protectionist move. Bloomberg recently put out an article citing that India might be considering a rice export restriction. India is the world’s top rice shipper accounting for 40% of trade. A restriction on rice exports may exacerbate the food crisis and cause rice prices to spike.
RiceBran Technologies
Market Cap ~ $ 35.76 Million
RiceBran evolving into specialty ingredients business
RiceBran Technologies is an innovative specialty ingredient company focused on producing healthy, natural and nutrient dense products derived from rice, stabilized rice bran and other small grains such as oats and barley. The company delivers these high quality products for customers in food, nutraceutical, pet care and animal feed markets.
RiceBran’s technology, facilities and years of experience gives them an edge in providing these quality sourced ingredients to customers.
So what exactly is rice bran? Good question, and from someone who eats rice almost on a daily basis, I was happy to learn something new!
Rice bran is one of the main byproducts in the process of rice milling. It is the outer layer of rice. Rice bran is a popular ‘healthy oil’ in Japan, Asia, and India. From the docs over at webmd:
Rice bran oil contains substances that might decrease how much cholesterol the body absorbs. Rice bran might also decrease calcium absorption, which might help prevent certain types of kidney stones from forming.
People use rice bran for high cholesterol, diabetes, high blood pressure, athletic performance, and many other purposes, but there is no good scientific evidence to support many of these uses.
Rxlist mentions this:
Rice bran is used for treating diabetes, high blood pressure, high cholesterol, alcoholism, obesity, and AIDS; for preventing stomach and colon cancer; for preventing heart and blood vessel (cardiovascular) disease; for strengthening the immune system; for increasing energy and improving athletic performance; for improving liver function; and as an antioxidant.
RiceBran Technologies stabilizes fresh and raw rice bran. Their proprietary process ensures their rice bran products are minimally processed, a source of vegan protein, dietary fiber and essential fatty acids. The process also allows RiceBran’s products to retain vitamins, minerals, phytosterols and antioxidants. Nutritious and contributing zero trans fat. This is ‘clean label’ stuff meaning non-GMO and gluten free, as well as contributing no major allergens. Very important in this market as consumers are spending more on healthy and natural food products.
Rice bran can be applied in many ways. Below is just a list for human nutrition, but RiceBran Technologies products can be applied to nutraceuticals and animal nutrition.
There are many high quality specialty ingredients that RiceBran offers. All of these are sustainable and cost-effective. And all are certified gluten-free, halal, kosher and produced with sustainable non-GMO ingredients. Below is a nice list from their website, but other products include organic pearled barley and organic oat flakes and a multiple of rice, barley and oat grain products:
On April 28th 2022, RiceBran Technologies released financial results for the first quarter ended March 31st 2022.
“The first quarter’s results built upon the momentum we began to see in December and bodes well for the year to come,” said RiceBran’s Executive Chairman Peter Bradley. “We are aligned with healthy living trends and benefitting from having high quality domestically sourced products in a difficult global supply chain environment. Strong growth in the quarter for our core-SRB and milling businesses reflects improved execution, while plans to introduce new products and expand production should support continued revenue growth and a transition to sustainable profitability, validating our strategic shift to a high value-add specialty ingredients focus.”
RiceBran Technologies delivered strong growth and a return to positive gross profits bringing in $10.6 Million in Q1 22, up from 23% Q1 21.
Positive momentum underpinned by strong demand and improved execution. RiceBran saw growth for its core business.
Value add to offer upside to revenue and profits in the coming quarters.
Revenue momentum remains strong, and the balance sheet strengthened with total cash at $5.9 million driven by positive operating cash flow, lower capital expenditures, and an increase in short-term borrowing.
Getting the fundamentals out of the way, let’s explore the chart.
Regular readers of my work, and Discord members probably get the gist of the type of set ups I love. I trade and invest in the exact same patterns because market structure just repeats itself. I look for set ups that have been beaten up in a long downtrend, but then show signs of selling exhaustion. We tend to see a range or some sort of bottoming pattern. This occurred on RiceBran Technologies in Q1 2022. We printed a bottoming pattern known as the inverse head and shoulders. The break above $0.40 and subsequent follow through after pulling back, was the signal that the downtrend was over. Now, RiceBran is in a new uptrend.
The major breakout I was looking for was a close above $0.6250. This occurred on May 18th 2022 with strong volume of 12,243,500. This is what you want to see for a breakout: a large green candle backed by strong volume. The retest on May 20th shows typical breakout and retest price action. We managed to see buyers jump in and take the daily candle close back above $0.6250. The uptrend continues as long as the price remains above this level.
Recently, the stock has not been able to sustain momentum for a further push into the $0.90-$1.00 zone. We seem to be finding some interim resistance at $0.77. Even though the stock is well supported above $0.6250, it would be prudent to jump in or add to your position when we get a daily candle close above $0.77. This is for two reasons. Firstly, this would confirm what is called a higher low. Meaning the stock continues its uptrend and building momentum. Secondly, if we do not get this breakout, the stock could end up ranging here, or worse, seeing a drop back below our support as traders lose patience due to the lack of momentum.
In summary, the stock sees plenty of volume per day. This is definitely a hot stock in the ag space. The technicals look VERY good with a lot of room to the upside, and the fundamentals remain bullish for agriculture stocks in general.
<<<
---
Those Twitter dudes seem to be getting off RIBT. They were on it for the wrong reasons. All food commodities are falling, no food shortages here.>>>>>
https://finviz.com/futures_charts.ashx?t=GRAINS&p=d1
https://finviz.com/futures_charts.ashx?t=SOFTS&p=d1
A couple of posts I out uo at Twitter and herer at iHub>>>
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169301262
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169301330
Have a good 4th gfp, big plans?
>>> Wheat Sinks to Pre-War Levels as Recession Fears Grow
Chicago corn tumbles to a five-month low as US acres expand
Soybeans fall as much as 4.6% in spite of smaller US acreage
Bloomberg
By Kim Chipman and Michael Hirtzer
7-1-22
https://www.bloomberg.com/news/articles/2022-07-01/food-inflation-gets-a-break-as-wheat-corn-and-soy-oil-tumble
Crop futures sank in the US, with wheat closing the week at levels not seen since before Russia’s invasion of Ukraine, as concern mounts that a global economic slump might hobble demand for farm commodities.
The worry hits as anxiety about possible grain shortages is easing. Two key reports from the US Department of Agriculture on Thursday indicated bigger-than-expected grain supplies.
Even as uncertainty persists over how the ongoing war will impact exports, nervousness is growing that a recession could crimp crop demand. Futures are down from near-record highs, which could help pause the food inflation that escalated earlier this year. In the nearer term, traders on Friday were busy positioning ahead of the three-day holiday weekend in the US.
“Buyers are not to be found right now,” said Arlan Suderman, chief commodities economist at StoneX. “It’s all about trading chart signals and momentum. Nobody wants to step in front of this freight train.”
Even soybeans plummeted, despite the USDA estimating smaller acreage than initially expected. The seedings still would be the third-biggest on record if realized.
Grains, oilseeds extend declines in signal of food-inflation relief
Most-active benchmark wheat settled down 4.9% to $8.41 a bushel in Chicago, the lowest since Feb. 18, a few days before the invasion upended commodity markets. The futures jumped to an all-time intraday high of $13.635 a bushel in early March, spurring food cost spikes, grain hoarding and widespread fear of severe supply shortages.
Both corn and soybeans ended the trading day at their lowest levels since late January, as did the soybean oil relied on for processing food and making climate-friendly diesel. Soy meal, used to help feed hogs and chickens, plunged 4.1%, the biggest drop in almost a year.
<<<
---
Name | Symbol | % Assets |
---|---|---|
Deere & Co | DE | 8.22% |
Zoetis Inc Class A | ZTS | 8.15% |
Bayer AG | BAYN.DE | 6.98% |
Nutrien Ltd | NTR.TO | 6.44% |
Corteva Inc | CTVA | 5.61% |
Archer-Daniels Midland Co | ADM | 5.56% |
Tyson Foods Inc Class A | TSN | 3.90% |
Kubota Corp | 6326.T | 3.64% |
Bunge Global SA | BG | 3.62% |
CNH Industrial NV | CNHI | 3.49% |
Name | Symbol | % Assets |
---|---|---|
Deere & Co | DE | 22.26% |
Archer-Daniels Midland Co | ADM | 7.88% |
Corteva Inc | CTVA | 6.92% |
Nutrien Ltd | NTR.TO | 5.69% |
Lamb Weston Holdings Inc | LW | 3.19% |
CF Industries Holdings Inc | CF | 3.12% |
Bunge Global SA | BG | 3.09% |
Kubota Corp | 6326.T | 3.07% |
CNH Industrial NV | CNHI | 2.48% |
The Mosaic Co | MOS | 2.42% |
Name | Symbol | % Assets |
---|---|---|
Deere & Co | DE | 23.41% |
Corteva Inc | CTVA | 9.83% |
Archer-Daniels Midland Co | ADM | 8.01% |
Nutrien Ltd | NTR.TO | 7.73% |
Lamb Weston Holdings Inc | LW | 5.04% |
Bunge Global SA | BG | 4.96% |
Ingredion Inc | INGR | 4.78% |
CF Industries Holdings Inc | CF | 4.45% |
The Toro Co | TTC | 4.06% |
Darling Ingredients Inc | DAR | 3.57% |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |