Soybean growers are rapidly adopting precision technologies because they make their farming operations cost less, allowing them greater profit.
This is clear result of a recent survey of soybean growers conducted by the PrecisionAg Institute in cooperation with the American Soybean Association (ASA) to gain insight to the return on investment (ROI) for precision farming tools and technology. Information provided by growers surveyed shows that for those who use the technology well, there is rapid payback. In some cases, it is accomplished within one season.
Other key learnings:
- Growers report an average savings of about 15% on several crop inputs such as seed, fertilizer and chemicals.
- Savings on inputs often pays for the technology within a year for a large cropping operation and two to three years for smaller operations.
- Growers are increasingly using precision tools to conduct their own comparisons on their own ground.
- Findings show that most growers, particularly those with more than 500 total acres, are using several precision farming technologies.
- The larger the acreage increase, the more likely the farmer is to use multiple precision farming technologies.
A deeper look into the research will be published in the Winter edition of PrecisionAg Special Reports, and featured on the PrecisionAg WORKS web site later before year’s end.