Farmer-owned cooperative Land O’Lakes Inc. is encouraging more farmers to adopt regenerative farming practices by working to remove one of the biggest barriers — fear of lost profitability and productivity of their acres. The cooperative announced that it is harnessing its Truterra agtech network and its Winfield United seed, crop protection, and nutrient portfolio to better help interested farmers make the switch — with some incentive money, to boot.
Here’s how it would work for farmers:
- Farmers can start by inquiring about the Truterra market access program at their local ag retailer to understand options for their fields.
- For those interested in exploring first-time practice change such as cover crops or reducing tillage to position fields for future carbon market eligibility, qualified growers may be eligible to receive $2/acre to set this baseline.
- This $2/acre incentive is to support farmers interested in participating in ecosystem markets and learn more about potential carbon market opportunities in the future.
- In addition, farmers have the opportunity to participate in the WinField United Advanced Acre Rx prescription plan1 — a component of which provides a warranty to offset part of the risk of this practice change implementation.
- For farmers more advanced in their sustainability journey, eligibility for the Truterra carbon program, could pay up to $25/tonne of sequestered CO2.
The goal of the program is to create a pathway for farmers to improve their soil health and potentially become eligible for future market opportunities through Truterra and WinField United as a result of continuous cover and/or tillage changes. For example, through Truterra’s most recent carbon offer, participating farmers can earn up to $25 per tonne of sequestered CO2 upfront for new carbon stored in soils, with a contract designed to help maximize farmers’ earning potential and flexibility.
This marks the first time Truterra’s offerings are marketed together with the WinField United Advanced Acre Rx prescription plan to further demonstrate that sustainability and profitability can go hand-in-hand for farmers. The agronomic prescription service, Advanced Acre Rx, uses data and insights specific to how and where farmers are operating with the goal to increase profit potential per acre and lower per-bushel costs for corn and soybeans. All options in the Advanced Acre Rx program include an agronomic plan; including products and ag technology recommendations, with a service warranty for performance.
“When it comes to sustainable farming, we know that one of the biggest barriers to entry for farmers considering carbon or other ecosystem services markets is the risk of lost income associated with converting to climate-smart production practices,” said Jason Weller, Vice President, Truterra. “We are thrilled to be working in collaboration with our retail-owners to bring this innovative program to farmers to help them manage risk and maximize natural resources to generate a potential return on investment. Not only that, but by working through our farmer cooperative system, participants can have peace-of-mind that they are getting holistic agronomic, conservation, and carbon market support.”