Dr. Freddie Bernard Gives Keynote at 5th Annual Ohio-Indiana Ag Summit

Dr. Freddie Barnard shared a wealth of insight at the
5th Annual Ohio-Indian Ag Summit, sponsored by
Greenville National Bank, Premier Crop Insurance, and Ag Protect 1.

Over 115 guests turned out the evening of November 19 as Greenville National Bank, Premier Crop Insurance, and AgProtect1 hosted the 5th Annual Ohio-Indiana Ag Summit at Romer’s in Greenville. Complete with a delicious dinner and door-prizes, area farmers gathered to hear about the latest trends in agriculture and how accrual accounting can help them plan for the future.

Kent James, Executive Vice President & Chief Operating Officer of Greenville National Bank, opened with sharing that GNB has a long history of working with the Agricultural community. “We know that agriculture is very important not only to the Bank but to the entire community and we appreciate the relationship we have the Ag Community,” stated James. “Industries within our economy operate on varying cycles. During the past few years, many industries have experienced severe decline in their business activity and profitability. Agriculture in general has enjoyed relatively good results during that time. It appears that the tides may be changing as a large number of industries are showing signs of strength and it appears that Agriculture may be facing some head winds. Even within Agriculture certain segments may perform better than others in the next few years. We hope that tonight’s presentation will assist you with your long range plans for a successful operation.”

Ron Barga, II, Ag Consultant for Greenville National Bank and founding partner of Premier Crop Insurance and Ag Protect 1, then spoke about the future of Federal Crop Insurance, Private Products, and Farm Bill Changes. He shared about the benefits of a new online farm business management tool called AgWizard. (www.agwizard.com.) Ron also shared about the benefits of a new online farm business management tool called Crop Profit Center. (www.agprotect1.com.)

The highlight of the evening was the keynote speaker, Dr. Freddie Barnard. Freddie is originally from Beaver Dam, KY He received his B.S. and M.S. Degrees in Agricultural Economics from the University of Kentucky in 1975 and 1979, respectively. He received a Ph.D. in Agricultural Finance from the University of Illinois in 1982. Freddie now lives in Lafayette, Ind., with his wife, Shirley, and their three children.

Early in 1982, Dr. Freddie Barnard joined the Department of Agricultural Economics at Purdue University. His appointment is 65 percent extension and 35 percent teaching. He currently works in agricultural finance and focuses on two major groups: agricultural lenders and producers. Freddie has been involved in educational projects in the state, across the country, and internationally. His credentials are a mile long.

At this year’s Ag Summit, Barnard shared a wealth of information about the benefits of accrual versus cash analysis, as well as commodity markets, inputs, the 2014 Farm Bill, and the future of farm economy. In his very down-to-earth manner, Freddie educated Ag Summit attendees as he showed how quickly information from typical financial documents can be transferred into a free accrual accounting system to produce much needed data to more accurately analyze current financial condition and plan for the future. To access the free accrual accounting analysis tool, go to www.agecon.purdue.edu/files/EC712.xlsx.

After the Summit one attendee had this to say: “I liked the way Freddie knows how to talk to farmers. You can tell he knows the business and knows how we think. I understood what he shared and believe it will be very beneficial to us.”

For information about how you might attend next year’s Ag Summit, contact an Ag Lender at Greenville National Bank, 937-548-1114.