For the last 40 years, Jim Bower, president of Bower Trading Inc., has seen a lot of changes in how farmers and the markets use technology. The last five years, he says has seen the biggest difference for traders of all sizes.
While he says he misses the relationship building from the old board of trade, technology allows him to get better feedback.
As for farming, he says hybrid technology has driven the yield increases especially in 2017.
“That’s impacting our prices and probably isn’t going away,” he told AgDay host Clinton Griffiths.
The way younger farmers are utilizing technology on their operations is an important factor Bower can’t ignore.
“If you don’t follow it, you don’t use it, you don’t pay attention to it, you’ll get left behind,” he said.
Watch Bower’s full analysis on AgDay above.