What can farmers expect? An Ag economist's perspective

What can farmers expect? An Ag economist's perspective

As the chief agricultural economist and senior vice president at Wells Fargo's Agri-Food Institute, Dr. Michael Swanson has a big-picture understanding of energy markets and the economy of agribusiness. He stops by The Water Table to help us make sense of the impacts of the war in Iran and how the markets might continue to react. What can we expect crude oil prices to do? What about commodity prices? How does this situation compare with the Russia-Ukraine war? Michael shares his wisdom on these topics—and an old adage or two—to keep the current situation in perspective and offer encouragement for farmers to seize the right opportunities for success. Note: This episode was recorded on June 5, 2026. Chapters 00:00 - Introductions 02:10 - Systems thinking and never-ending stories 05:28 - Challenging the popular narrative 11:02 - An opportunity to make money in this market 12:04 - Crude oil costs and stockpiling resources 16:10 - Global feedstock and energy markets 17:05 - A closer look at the numbers 19:10 - Fixing the cash rent problem 25:09 - Looking back and ahead 30:12 - Final thoughts Related Content #144: The Iran war and pipe prices [https://www.watertable.ag/podcast/the-iran-war-and-pipe-prices/] #52: An Ag Economist Tells All: Critical Topics Impacting the Future of Agriculture [https://www.watertable.ag/podcast/ep-52/]  Find us on social media! * Facebook [https://www.facebook.com/PrinscoInc/]   * X [https://x.com/prinscoinc] * Instagram [https://www.instagram.com/prinsco.inc/] Listen on these podcast platforms: * Apple Podcasts  [https://podcasts.apple.com/podcast/id1538507698] * Spotify [https://open.spotify.com/show/001MKyL5nMw6jUpuuz9aGd] * YouTube Music [https://music.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] * YouTube [https://www.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] Visit our website to explore more episodes and water management education [https://www.watertable.ag/the-podcast/].

Preserving the soil profile with v-plow installs

Kyle Whitcomb was nine years old when his grandpa started teaching him about the family business. He now runs that business, Whitcomb Farm Drainage, out of Lake Lillian, Minnesota. He’s focused on meeting his customers’ needs, and one way he does that is by using a v-plow to install pattern tiling. This approach minimizes disturbance to the soil, reducing ruts and erosion while preserving topsoil and nutrients. Kyle shares what he’s learned from years of using this trenchless installation method, talks through its pros and cons, what beet farmers especially love about it, and why it’s more commonly used in Europe. On a more personal note, Kyle shares a little about being the third generation in his family to run the business, the paths his siblings have taken, and what the future might look like for his family and business. Chapters: 00:00 Introduction 01:30 Why a v-plow? 03:54 Comparing field heal times 04:40 Pattern tiling in no-till systems 06:00 Why beet farmers love v-plow installation 07:25 V-plow vs straight shank plow 09:30 The future of v-plowing in ag drainage 12:24 Variations and popularity in Europe 14:17 Kyle’s custom intake boxes 19:00 The legacy of the Whitcomb family business Related Content: * #127:  Cover Crops and No-Till: A Conservationist’s Perspective  [https://www.watertable.ag/podcast/cover-crops-no-till-a-conservationists-perspective/] * #97: Stay Curious– Life Lessons from One Contractor to Another  [https://www.watertable.ag/podcast/stay-curious-life-lessons-from-one-contractor-to-another/] * V-Plow for Victory in Rut Reduction [https://www.youtube.com/watch?v=gmV6A7omRuA] Find us on social media! * Facebook [https://www.facebook.com/PrinscoInc/]  * X [https://x.com/prinscoinc] * Instagram [https://www.instagram.com/prinsco.inc/] Listen on these podcast platforms: * Apple Podcasts [https://podcasts.apple.com/podcast/id1538507698]  * Spotify [https://open.spotify.com/show/001MKyL5nMw6jUpuuz9aGd]  * YouTube Music [https://music.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] * YouTube [https://www.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] Visit our website to explore more episodes and water management education [https://www.watertable.ag/the-podcast/].

Resin pricing nine weeks into the Iran war… an honest update

Two months into the Iran war, Jamie welcomes back Sleiman Bassila, founder and president of BIC Advisory Group, and Tom Hughes, founder, president, and CEO of Quantum Polymers. These two polyethylene industry experts have been closely watching the events in Iran and the Strait of Hormuz and share their insights into the wide-ranging market effects of the ongoing war. Sleiman and Tom summarize what’s happened since their last visit to The Water Table. The conversation touches on supply shortages, damaged petrochemical plants, unprecedented daily pricing increases, impacts on domestic pipe prices, and what it all means to the fertilizer supply chain. They also talk through the possibilities for recovery and how long it might take for stability to return once the war is over. Chapters: 00:00 Introduction 01:36 A recap of recent history 05:35 Re-exporters enter the market 08:58 Impacts of petrochemical plant damage 12:00 Recovery possibilities, challenges, and timelines 18:30 Material availability, competition, and prioritization 22:32 The unprecedented pace of price increases 27:13 How lags in resin prices impact domestic pipe costs 31:09 Expectations of inflation  32:47 What about the fertilizer supply chain? 36:28 How oil prices impact resin re-exports 38:54 Closing Related Content: * #144: The Iran war and pipe prices [https://www.watertable.ag/podcast/the-iran-war-and-pipe-prices/] * #124: Who pays? The impact of tariffs on U.S. and Canadian ag [https://www.watertable.ag/podcast/who-pays-the-impact-of-tariffs-on-u-s-and-canadian-ag/] * #8: Cause and effect: Plastic resin supply [https://www.watertable.ag/podcast/episode-8/] Find us on social media! * Facebook [https://www.facebook.com/PrinscoInc/]  * Twitter [https://twitter.com/prinscoinc]  * Instagram [https://www.instagram.com/prinsco.inc/] Listen on these podcast platforms: * Apple Podcasts [https://podcasts.apple.com/podcast/id1538507698]  * Spotify [https://open.spotify.com/show/001MKyL5nMw6jUpuuz9aGd]  * YouTube Music [https://music.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] * YouTube [https://www.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] Visit our website to explore more episodes and water management education [https://www.watertable.ag/the-podcast/].

Putting controlled drainage to the test

Can controlled drainage make that big of a difference in drainage flow, nitrogen loss, and overall yields? A research project in the Midwest has been studying that question since 2017, and the findings might surprise you. Guest host Trey Allis sits down with Jeppe Kjaersgaard, a research scientist studying drainage, nitrogen management, and irrigation. Jeppe traces his journey from the family farm in Denmark to the Minnesota Department of Agriculture, shares results from his controlled drainage field study, and makes a compelling case for collaborating with people across the ag industry. Jeppe and Trey talk through the methods and findings of a controlled drainage comparison study in Wilkin County, Minnesota. The project includes two sites: a 160-acre field used to gather data on controlled drainage and a 65-acre plot used to explore the impacts of a saturated buffer. Jeppe shares what he’s learning about how different water management methods impact drainage flow, nitrogen loss, and overall yields. Trey and Jeppe also discuss the Conservation Drainage Network, an organization made up of researchers, drainage professionals, and interest organizations, as well as federal, state, and local conservation district staff. Jeppe talks about the benefits of such a network and how it can help increase adoption of different conservation drainage practices. Learn more about the Red River Drainage Water Management Project: https://www.mda.state.mn.us/protecting/cleanwaterfund/onfarmprojects/rrvdwmproject [https://www.mda.state.mn.us/protecting/cleanwaterfund/onfarmprojects/rrvdwmproject] Check out the Conservation Drainage Network: https://conservationdrainage.net/ [https://conservationdrainage.net/] Chapters: 00:00 - Introductions 01:42 - From Denmark to Minnesota 04:50 - Local differences and global similarities 06:45 - Minnesota Department of Agriculture work 08:27 - Controlled drainage comparison project 13:20 - Highlights and learnings of project 17:38 - Measuring drainage flow, nitrogen loss, and yields 20:00 - Cost analysis and planning for the future 21:58 - Saturated buffer impacts on nitrogen and water flow 26:19 - Using project data to set standards 27:47 - The Conservation Drainage Network 35:47 - Drainage is a key piece of the whole ag picture 41:40 - Closing Related Content: * #142: Minnesota's coolest drainage plots [https://www.watertable.ag/podcast/minnesotas-coolest-drainage-plots/] * #98: Exploring Discovery Farms: A lesson in doing the homework [https://www.watertable.ag/podcast/exploring-discovery-farms-a-lesson-in-doing-the-homework/] * #110: Bridging the gap between water management research and application [https://www.watertable.ag/podcast/bridging-the-gap-between-water-management-research-application/] * Jeppe Kjaersgaard on the 2026 Discovery Farms Minnesota Controlled Drainage Webinar [https://youtu.be/tO0XfF5dZTE?si=WDbL3Z82yb5_UfMZ&t=2038] Find us on social media! * Facebook [https://www.facebook.com/PrinscoInc/]  * Twitter [https://twitter.com/prinscoinc]  * Instagram [https://www.instagram.com/prinsco.inc/] Listen on these podcast platforms: * Apple Podcasts [https://podcasts.apple.com/podcast/id1538507698]  * Spotify [https://open.spotify.com/show/001MKyL5nMw6jUpuuz9aGd]  * YouTube Music [https://music.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] * YouTube [https://www.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] Visit our website to explore more episodes and water management education [https://www.watertable.ag/the-podcast/].

The Iran war and pipe prices

Just 11 days into the Iran war, Jamie hosts an in-depth discussion with two experts in the polyethylene market. Joining the conversation are Sleiman Bassila, founder and president of BIC Advisory Group, and Tom Hughes, founder, president, and CEO of Quantum Polymers. With a combined 45 years in the industry, Sleiman and Tom contextualize current events with a brief history of the polyethylene resin market. They discuss the current situation, compare it with the 2021 freeze caused by Winter Storm Uri, cover the significance of the shipping shutdown at the Strait of Hormuz, and share their thoughts on potential short- and long-term challenges ahead for producers and consumers. Chapters: 00:00 - Introduction 02:45 - Defining terms  03:43 - A brief history of the polyethylene market 11:04 - Winter Storm Uri and the 2021 freeze 15:05 - A chokepoint on global energy 19:02 - Cascading implications 22:44 - A dangerous situation 24:49 - Global events and impacts at home 28:13 - The importance of shipping routes 29:23 - Seeing the big economic picture 31:46 - Ongoing market volatility 33:44 - Understanding the scope of the crisis 35:00 - Higher prices, large volume buyers 38:45 - Short- and long-term effects 41:44 - Potential outcomes for the global economy 44:32 - Final thoughts Related Content: * #124: Who pays? The impact of tariffs on U.S. and Canadian ag [https://www.watertable.ag/podcast/who-pays-the-impact-of-tariffs-on-u-s-and-canadian-ag/] * #115: How will the 2024 election results impact ag? [https://www.watertable.ag/podcast/how-will-the-2024-election-results-impact-ag/] * #8: Cause and effect: Plastic Resin Supply [https://www.watertable.ag/podcast/episode-8/] Find us on social media! * Facebook [https://www.facebook.com/PrinscoInc/]  * Twitter [https://twitter.com/prinscoinc]  * Instagram [https://www.instagram.com/prinsco.inc/] Listen on these podcast platforms: * Apple Podcasts [https://podcasts.apple.com/podcast/id1538507698]  * Spotify [https://open.spotify.com/show/001MKyL5nMw6jUpuuz9aGd]  * YouTube Music [https://music.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] * YouTube [https://www.youtube.com/playlist?list=PLxStyCN3l4woecKrXkSfuALVR55G5IMu_] Visit our website to explore more episodes & water management education [https://www.watertable.ag/the-podcast/].