Use satellite imagery before buying land and sniff out good deals, or avoid unpleasant surprises.
Yield is a key variable which influences the revenues a parcel of land generates. But how can we know the potential of farmland for sale, especially when we aren’t working it? With satellite imagery mapping, secrets are revealed. The yield values from previous years can be nailed down by using this tool.
Satellite imagery also gives the possibility of analyzing productivity losses within a single field. This lets us target very specific areas for improvement in order to increase overall yield. Crop management can be optimized, especially with variable-rate fertilization.
Having a clear picture of your production costs and technical performances is another success factor in all strategic decision-making. The Coop network has recently introduced a vast databank that quickly compiles the technical and economic profile of each business. This lets farmers determine their profit potential in buying or renting a particular parcel in real numbers, not by using a provincial average that doesn’t correspond to reality on every farm.
This tool generates precise data on the cost of operation and returns for each field and even for each seed type! Sensitivity analyses can be performed with various prices and yields. We can discover the potential value of a field according to the trends of the grain market and yield-improving technological advances. And lastly, this tool gives a picture of the strong points and areas of opportunity for the business, from grain marketing to field management to managing the machinery barn.
With these clear benchmarks, it will be easier to make sound business decisions, which will improve the profitability of your operation.