A 2022 USDA survey of American farms categorized 69% as “high risk,” meaning they operated with a profit margin below 10%.
“Farming is a risky business,” said Kevin Athearn, UF/IFAS regional specialized agent for rural and agribusiness development. “You can do a lot of things right and still end up losing money some years.”
Athearn provides economic guidance for the UF/IFAS Florida Stakeholder Engagement Program, a free competition that promotes the adoption of science-based education and best-management practices like controlled-release fertilizers and soil moisture sensor-based irrigation scheduling by creating a risk-free environment for testing results. Vivek Sharma, a UF/IFAS assistant professor of precision water management, developed the program based on a similar one at the University of Nebraska-Lincoln, his alma mater.
Each competition focuses on a single crop. Teams are assigned plots on a UF/IFAS property, and participants manage them virtually by logging decisions about inputs, insurance and marketing on a website. After harvest, the most efficient and most profitable teams are awarded cash prizes. The first Florida competition, a contest between 10 teams growing corn at the North Florida Research & Education Center – Suwannee Valley (NFREC-SV), took place in 2022. The competition expanded to 14 teams in 2023.
Fifteen teams participated in the 2024 corn competition, which wrapped up with a banquet Oct. 24 at NFREC-SV in Live Oak. The most efficient teams, in order of ranking, were Wilkerson Farms of Trenton; Riverbend Farms of Branford; and Team Columbia of Lake City. The most profitable teams were Team Pursell of Sebring; Riverbend Farms; and Team Columbia.
For the second year in a row, Billy Browning earned $2,000 as a member of the “most profitable” team. Browning sells fertilizer, and he entered the competition to showcase controlled-release fertilizer’s ability to decrease nutrient loss and enhance nutrient-use efficiency.
“I’m doing this to show people you can be profitable, and you can be successful with it,” he said.
“Profitable,” however, was a relative term this year. A combination of challenging weather conditions, low harvest yields and low corn prices resulted in lackluster returns, and none of the corn competition teams showed a profit. Browning came closest, “selling” 193 bushels per acre for a loss of $178.
“Farming is very dynamic, and there are a lot of lessons we learned this year,” Sharma said. “This year showed us that every year is different, and we have to tweak our management practices based on the current conditions.”
The nine teams competing in the inaugural cotton competition may fare better, however. Spearheaded by Sharma and Hardeep Singh, a UF/IFAS assistant professor and cropping systems specialist, the contest is wrapping up at the West Florida Research and Education Center (WFREC) in Jay.
Singh has begun harvesting the teams’ cotton bolls, and he plans to announce the winners of the competition at a banquet in February.
“So far, the competitors have learned that the agricultural field is constantly evolving, and keeping up with advancements in technology and management practices, as well as sustainability practices and research techniques, is crucial,” Singh said. “The competition likely reinforced the idea that staying curious and continuously seeking knowledge is essential for success in this field.”
###
ABOUT UF/IFAS
The mission of the University of Florida Institute of Food and Agricultural Sciences (UF/IFAS) is to develop knowledge relevant to agricultural, human and natural resources and to make that knowledge available to sustain and enhance the quality of human life. With more than a dozen research facilities, 67 county Extension offices, and award-winning students and faculty in the UF College of Agricultural and Life Sciences, UF/IFAS brings science-based solutions to the state’s agricultural and natural resources industries, and all Florida residents.
1
