
Farm Operating Loans Explained
Loans and lines of credit are two different financing options borrowers can leverage to help manage working capital while maintaining adequate cash on hand.
4 minute readAccording to the Autonomous Farm Equipment Global Market Report 2020-30, North America was the largest region in the autonomous equipment market in 2019. The report also named Raven Industries, Inc., as one of the key players bringing autonomous solutions
to the forefront.
The South Dakota-based leader in precision agriculture recently debuted their autonomous platform, Dot, at the Farm Progress Virtual Experience, one of the largest public farm shows in the United States.
The Dot Power Platform is an autonomous, diesel-powered unit designed to perform a variety of field operations. Using a U-shaped frame as the central unit, Dot can easily be attached to a variety of interchangeable implements including a seeder, sprayer
or spreader.
Once field boundaries and avoidance areas are mapped with a GPS receiver, the user approves and uploads a path plan to Dot software before in-field operations begin. The all-in-one platform is operated using a tablet that communicates with the Dot unit
through a cellular network and it can be run in autonomous mode or by remote control.
“Bringing autonomous solutions to the farm will allow us to connect all aspects of the operation for the first time,” says Wade Robey, executive director of Raven Autonomy. “We will connect, control and optimize the full precision agricultural
ecosystem.”
“This provides farmers greater control and access to more information to optimize decision making,” he explains. “Farmers will see efficiency gains across their entire operation, better equipping them to compete in a challenging world.”
The Dot Power Platform builds on Raven’s portfolio of market-leading precision ag technology. Each level within the Raven Autonomy ecosystem leverages technology to put farmers on the path to greater precision, efficiency and consistency with less
reliance on human variabilities.
“It can be very hard to find skilled labor or someone you know you’re going to trust,” says Kyle Mensen, lead test engineer on the Dot project with Raven Industries. “When a farmer adopts autonomous equipment like the Dot system
into their operation, they might feel like they are losing control, but in reality, they’re gaining complete control of the system.”
“Autonomous equipment is not going to get tired,” Mensen adds. “You can run it 24 hours a day, and because it knows it’s surroundings you can trust that if it encounters something unexpected it’s going to correctly adjust
it’s path, or if it doesn’t know what to do, it’s going to stop and alert you.”
Additionally, autonomous applications can help producers cover more acres from no longer requiring manual steering, and reduce driver fatigue and misapplication in the field, which can cost growers yield and profit up to 2 percent.
The safe use of autonomous machinery is a challenge precision agriculture leaders, like Raven, have worked diligently to address.
The Dot Power Platform currently operates on a safety system that allows the operator to initiate a controlled or emergency stop from their remote, tablet or on the machine itself. The Raven Autonomy team has also developed a camera-based perception system
that they are now incorporating onto Dot to enhance safety measures and allow the machine to respond dynamically as it moves through the field.
“Safety is the absolute top priority as we’re developing autonomous technology,” says Mensen. “We keep that in mind as we’re going through all of the software checks. No matter what change we make, we run every test to make
sure all of our safety mechanisms are still in place and that we did not hinder that in any way.”
As autonomous equipment becomes more mainstream in the market, specialized financing options will likely follow. Stay up-to-date on the latest trends in farm equipment and machinery financing by contacting the FarmLend equipment financing team at 888-525-9805. Ready to apply? You can now use our online equipment application to start the process!
Categories: Education,
Loans and lines of credit are two different financing options borrowers can leverage to help manage working capital while maintaining adequate cash on hand.
4 minute readJust as every property is different, so are the ways farmland can be effectively sold at auction. When landowners elect to sell their real estate, they must decide which auction methods will be used to conduct the sale.
3 minute readWhether you’re looking to purchase ag real estate at an auction online or in person, understanding the best practices for preparation, bidding, and closing on that land can make a huge difference in your success.
4 minute read