In its latest report, The Future of Agriculture, Barchart found the future relationship between grain elevator and farmer will become more digital.
Barchart surveyed over 100 students enrolled in agriculture programs representing 18 colleges and universities.
Based on the survey results, students strongly anticipate the relationship between grain elevators and farmers to become more digital in the future.
Not many expect a potential decrease in the amount of small agribusiness or independent farmers to impact the relationship between farmer and elevator.
The survey also found the expectation is to incorporate technology to streamline communication and improve efficiency between farmer and elevator.
Barchart noted the shift toward more technology integration and digital enablement will allow both to react to fast-paced market shifts, improving both parties' efficiency.
"Technology implemented by this generation will bring about rapid changes in the industry," concludes the report.
"They have anticipated elevators becoming more digital to make every process more efficient while improving overall communication. With a generation that values and understands technology, this is viewed as a much-needed change rather than another barrier to conducting business."
The Future of Ag survey
Barchart's 22-page comprehensive report was compiled by surveying agriculture-focused students from 18 universities across the country helps agribusinesses in the commodity industry better understand where the future of ag is headed from the perspective of forthcoming professionals and leaders.
"Our latest survey outlines how college students who are studying various ag programs across the country view the future of the agriculture industry," says Barchart CEO Mark Haraburda.
"Through the responses we received, we were able to uncover a significant amount of information which can be used by agribusinesses to guide them in better understanding how the current university generation perceives the current and upcoming landscape of ag."
The report outlines multiple conclusions, including: which tools are most essential to benefitting tomorrow's producers; where the most opportunity for technology disruption lies; how conservation impacts decisions for the upcoming generation; and, how technology and data will influence the industry's future.
