Upstream Ag Insights

2024 John Deere Leaps Ambition Progress ◼︎◼︎◼︎ In 2022 John Deere laid out its Leaps Ambitions across it's three business segments (production and precision ag, small ag & turf, construction/forestry) for the next 4 - 8 years. The Leap Ambitions framework has three components: 1. size the incremental market opportunity, quantifying the value that can be created. 2. identify the key actions required to guide investment in digitalization, autonomy, automation, and alternative power technologies. 3. define the desired financial and sustainable outcomes hoped to achieve to help investors and stakeholders understand the opportunities that can be unlocked in the future through present investments. Through this framework, they came up with a host of targets. Many of the new product capabilities that John Deere is bringing to market, including ExactShot and See & Spray, enable them to reach these targets. There were several that stood out to me from a digital and precision agriculture standpoint, including: - Number of connected machines - Digitally Engaged Acres - Sustainably Engaged Acres - Highly Engaged Acres - % of revenue that is recurring Recently, John Deere published its 2024 Annual Report and shared investor details that included their progress towards these goals, which have been put into a chart attached to see how Deere progressed over 2024 and how far they are from their targets in the coming years. Upstream Ag Professional members will find a full breakdown of their fiscal 2024 including a look at revenue, margins, inventory, R&D expenditure along with highlights and key takeaways surrounding their precision business and new initiatives like JD Link, See & Spray, Right to Repair and more. To get a full breakdown of the chart this weekend, plus much more, become an Upstream Ag Professional member at the link below: https://www.upstream.ag/ #agtech #agribusiness #agriculture Upstream Ag Insights Upstream Ag Ventures

Upstream Ag Professional - Week of January 27th 2025 ◼︎◼︎◼︎ This week's essential news and analysis for agribusiness leaders includes: 1. Beyond Retrofits: The Growing Importance of Tech Stacks in Ag Equipment and the Consideration of Integrated vs. Modular AGCO Corporation CNH John Deere Greeneye Technology 2. Unlocking Loyalty: The Evolution of Grower Programs in North America with Data from Stratus Ag Research Inspired by ICL Group's GROWERS article on "Are Manufacturers Getting the Results They Want from Their Incentive Programs?" a look at retailer perspective on manufacturer programs in the United States, along with opportunities for building tools for retails to better differentiate themselves with customers. A look at survey data shared by Stratus Ag Research illustrates that farmers demand more when it comes to understanding crop protection pricing. Corteva Agriscience Syngenta BASF Bayer | Crop Science UPL Nufarm Nutrien Ag Solutions Helena Agri-Enterprises, LLC Simplot Grower Solutions GROWMARK, Inc. CHS Inc. GreenPoint Ag Keystone Cooperative 3. 3BarBio Announces Concept to Creation, Microbial Delivery Innovation Challenge 4. 2025 in AgTech… So what? with Shane Thomas I joined Sarah Nolet and J. Matthew Pryor of Tenacious Ventures to discuss Venture Capital, Corporate Venture Capital, including FMC Corporation Ventures, and a look at compelling agtech companies and what makes them successful. Kilimo Optiweigh GOTERRA Meristem Crop Performance AgVend 5. A Distinguished Expert and Senior Science Fellow’s Observations and Insights about Bayer’s DSO Reorganization | Brent Massmann 6. Algorithms, Agents and Agriculture including The Future of AI will Transform Everything by 🌿Patrick A. Walther🌱 a perspective from Tim Bucher in AI or die? and a look at Upstream Ag Insights view of How AI Agents Fit Into Agribusiness 7. AGCO Corporation Precision Planting Conference Highlights and Evolving their Precision Dealers 8. John Deere Announces its 2025 Startup Collaborators + ICYMI Five Technology Patents from John Deere and What They Might Mean for the Future of Precision Agriculture + more! #agtech #agribusiness #agriculture Upstream Ag Ventures

Upstream Ag Professional Big Four Stories of the Week ◼︎◼︎◼︎ An overview of what agribusiness leaders will find in this weekend's edition: 1. Integrated Tech Stacks and Precision Technology in Ag Equipment When I first meaningfully wrote about autonomy and automation of smart equipment in August of 2021, I talked about my view that integration in the equipment space will win out. While this view isn’t universally agreed upon, and there is ample rationale to be bullish on multi-color, retrofit solutions, I think it is worthwhile to dive deeper into what "integration” means and why it is compelling in terms of performance in the context of equipment manufacturers with precision and autonomous functionality. CNH John Deere AGCO Corporation PTx Trimble Kubota Corporation Titan Machinery 2. Unlocking Loyalty: The Evolution of Grower Programs in North America Recently GROWERS shared an article on the "minimal" impact from manufacturer grower programs. The data I have read from Stratus Ag Research suggests that might not be the case, but there is opportunity in evolving these programs nonetheless. Where is the opportunity for retailers? Where is the opportunity for start-ups? One image of the dozen charts from the article shared below. 3. 3BarBio Announces Concept to Creation, Microbial Delivery Innovation Challenge A look at 3Bar as a Contract Development and Manufacturing Organization (CDMO) and what we can learn from the pharmaceutical industry. One image illustrating some of what 3Bar considers to figure out shared below. 4. Algorithms, Agents and Agriculture There was a lot of buzz on AI agents this week with articles from 🌿Patrick A. Walther🌱, comments from Tim Bucher and news from OpenAI. How might AI agents fit into agribusiness and farmers efforts? One image shared below. Plus more, including a podcast with Sarah Nolet and J. Matthew Pryor of Tenacious Ventures and a look at VC, CVC and companies catching their attention and news from John Deere and AGCO Corporation. Check out the link in the first comment to subscribe and get all of this and more to your inbox on Sunday! #agtech #agribusiness #agriculture #innovation #strategy Upstream Ag Insights Upstream Ag Ventures

This was a fantastic, wide ranging conversation.

FMC Restructures VC Arm: What does it mean and what are the implications? ◼︎◼︎◼︎ FMC Corporation has restructured its VC arm, FMC Ventures, leading to the elimination of certain roles and early stage agtech investment. While the company states its committed to innovation, the changes align with broader R&D cuts, reflecting pressures from a challenging market landscape. Despite the restructuring, FMC Ventures has shown its potential in delivering value to FMC, driving strategic acquisitions and collaborations with the likes of BioPhero ApS, Micropep Technologies and AgroSpheres. However, with FMC facing challenges and reducing innovation investments, I wonder about the implications for its long term innovation capabilities - especially for a company that derives ~39% of it's revenue from two molecules! For the full breakdown, including a look FMC R&D cuts, the contribution of an investment turned acquisition on it's R&D pipeline, the structure of CVC structure, and it's ability to commercialize innovation compared to the likes of UPL, check out the link to the full analysis in the first comment. What are your thoughts on the future of CVC in agribusiness? #agtech #agribusiness #agriculture #innovation #strategy Upstream Ag Insights Upstream Ag Ventures

Two Centuries of Innovation: What is coming next from John Deere? In 1837, John Deere, a blacksmith, solved a major problem for farmers struggling with sticky Midwestern soil. His self-scouring steel plow revolutionized farming. Today, nearly 200 years later, Deere continues to look to innovation in precision agriculture, robotics, and soil intelligence to improve outcomes for farmers. Patents are a window into how companies like Deere envision the future of farming. They reveal priorities, processes, emerging technologies, and how they plan to tackle challenges like labor shortages, farmer profitability and imprecise solutions. I recently analyzed five standout patents from John Deere's portfolio, showcasing their vision for: Fleet robotics – Multi-field robots that scout, spray, and even release beneficial insects autonomously. Legged robots – Lightweight machines for diverse terrains, reducing soil compaction and enabling modularity. Precision soil analysis – Cutting-edge tools to map soil health in real-time for optimized planting and fertilizing. Predictive soil mapping – Advanced ML models to forecast soil conditions and guide farm management. The next evolution of See & Spray – Targeted pest and nutrient application that’s precise down to the plant part. Deere’s patents reflect a company that’s not just solving today’s challenges but thinking about the future of agriculture. Curious to learn more? This analysis is just the beginning - more patent breakdowns are coming. Subscribe to Upstream Ag Insights for detailed reports and actionable insights shaping the future of farming. Check out the link in the first comment. What excites you most about the possibility of these patents? #agtech #agribusiness #innovation #strategy Upstream Ag Insights

FMC Restructures VC Arm: What does it mean and what are the implications? ◼︎◼︎◼︎ FMC Corporation has restructured its VC arm, FMC Ventures, leading to the elimination of key roles. While the company states its commitment to agricultural innovation, the changes align with broader R&D cuts, reflecting pressures from a challenging market landscape. Despite the restructuring, FMC Ventures has shown its potential, driving strategic acquisitions and fostering collaborations. However, with FMC facing challenges and reducing innovation investments, questions arise about the long-term implications for its long term innovation capabilities. This development echoes a broader trend in agtech VC and corporate innovation investment—balancing short-term financial health with the need for long-term innovation. What are your thoughts on the future of CVC in agribusiness? Check out the full article here: https://lnkd.in/g_y5q-J5 #agtech #agribusiness #venturecapital #agriculture #innovation #strategy Upstream Ag Ventures Shane Thomas

Upstream Ag Professional Big Four Stories of the Week ◼︎◼︎◼︎ An overview of what agribusiness leaders will find in this weekend's edition: 1. Five Technology Patents from John Deere and What They Mean for the Future of Precision Agriculture Upstream Ag Insights is launching a new endeavor to dig into the patents of agribusinesses, the company strategy and extrapolate what it all means for the company themselves, along with farmers and the agribusiness value chain. The first one dives into John Deere, including a look at their robotics patents, how they are thinking about integrating soil testing into their equipment and what the next iteration of See & Spray could look like. 2. FMC Corporation restructures agtech VC arm FMC Ventures ‘to optimize operations’ A look at how FMC Ventures contributed to FMCs business, a look at their innovation strategy and whether this is an isolated announcement in agribusiness. 3. US FTC Sues Deere Over Equipment Repair Restrictions while Deere Announces an Expansion of Self-Repair Solutions What drives Deere's approach to farmer vs. dealer repair? 4. Monopolistic Inertia in the Agribusiness Value Chain: What it is and why it is important to understand for start-ups looking at navigating the industry and scaling technology adoption. + more! Check out the link in the first comment to become an Upstream Ag Professional member. #agtech #agribusiness #agriculture Upstream Ag Ventures

AGCO 2024 Analyst Day Highlights and Analysis ◼︎◼︎◼︎ A deep dive into the AGCO Analyst Day, including: - Autonomy business model insights - AGCO customer engagement metrics on their digital initiatives - A look at their effort to evolve their service strategy, including e-commerce initiatives - Revenue forecasts and targets + more! Check out the image below for some brief key takeaways, or become an Upstream Ag Professional member for a deep dive into the announcements and agribusiness implications: https://lnkd.in/g46Ua5bG #agtech #agribusiness #agriculture Shane Thomas Upstream Ag Ventures

Illustrative AgTech Insights: Reinforcement that the Last Mile Drives Product Experience and Loyalty Farmer's don't just buy an outcome, they buy the experience that leads to that outcome. ◼︎◼︎◼︎ A recent Lessiter Media survey emphasized equipment brand loyalty continued to drop in 2024, with primary reasons unrelated to the equipment itself. It’s the support, service, and relationships provided by dealerships that make the difference. Retailers are similarly crucial in crop input decisions according to Stratus Ag Research, with aligned efforts between manufacturers and retailers doubling sales success. Direct-to-farmer models aimed to disrupt traditional channels but are now pivoting back, recognizing the value localized expertise brings along with broader market access. Agribusiness success isn’t just about having the best product—it’s about delivering an unmatched support experience. Is your organization ensuring farmers feel supported every step of the way, looking at the customer experience and expectation setting at every engagement point? Check out the full article here: https://lnkd.in/gyBvPKin #agribusiness #agtech Upstream Ag Insights Upstream Ag Ventures