I am originally from a small, agricultural-based industrial town in SE Iowa; about an hour and fifteen minutes from here in Monmouth. I moved away in the late 1980s for graduate school and to “see the world.” Upon moving back to the region in August of 2012, I soon realized that no matter how many places however far off and different I had lived in or visited there was still a lot of this region “in me” that could never be removed or denied. A big part of this is the agricultural-based nature of the region and a big part of that is “the farmer”; who they are, what they stand for, what they do, and how they do it.
This realization of the centrality of the farmer to this region—and how it is a part of me—came crashing down upon me shortly after my return when watching the Super Bowl in early 2013 and seeing the unconventional “God Made a Farmer” Dodge Ram Truck advertisement—featuring the iconic voice of the late Paul Harvey—at the link below.
https://www.youtube.com/watch?v=AMpZ0TGjbWE
I played this ad—one that still resonates with me since first seeing it now four years ago–last Thursday to introduce our guest speaker in the Midwest Entrepreneurs class; 1976 Monmouth College graduate and long-time “traditional production farmer” Paul Rickey (who farms roughly 1,000 mostly family-owned acres near Monmouth). Farmers are—as expressed by Paul Harvey and as exemplified by Paul Rickey—anything but ordinary people. They do and endure things most people find unthinkable. They are also—from the perspective of this class and on top of everything else they are— entrepreneurs managing businesses in a very professional manner in an increasingly complex and risky market environment.
Enough from me… I turn things over to Midwest Entrepreneurs class member Kyle Schultz to tell you—to quote Paul Harvey—“the rest of the story” on Paul Rickey; the Traditional Production Farmer Entrepreneur.
Prof. Gabel
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On Thursday, February 2, our class was blessed with an opportunity to listen to Monmouth College Alum, Paul Rickey ’76. Mr. Rickey had some great advice to share with us about how he made it through Monmouth College and moved into the real world where he became very successful.
Mr. Rickey’s farming story starts out way before he was born when his ancestors bought an 80-acre piece of land near Seaton, IL in 1847; for the price of $300 at the time. He described his farm as a “Legacy Farm” because his family still owns and farms on the original piece of land now 170 years later.
While Mr. Rickey was growing up, it was clear that he wanted to continue the farming tradition. He loved farming, and that is what he wanted to do. He now farms close to 1,000 acres, but he doesn’t own it. Mr. Rickey is a sharecropper, and he splits half of the crop with the landowner—his mother—and gets to keep the other half. He chooses to do this instead of cash renting the land. By splitting the crop with the landowner, he shares the risk with the landowner in case there’s a bad year.
So what is a good year for a local, relatively small farmer? Mr. Rickey was very clear about what a good year for him is. “A good year for Paul Rickey is when he pays for 80% crop insurance and doesn’t need it.” He explained that when he pays for 80% crop insurance, if yields drop below 80% from what is projected, the insurance company will pay for the loss up to 80%. In order to have this kind of protection, he pays out a lot of money. His share of the crop insurance costs him about $71.44 an acre. That’s not cheap, but on some of his better ground, Mr. Rickey can get close to, if not over, 220 bushels per acre. This number is way up compared to when his father was first farming. Mr. Rickey said his father used to get right around 80 bushels per acre. This is largely due the technological advances in the farming industry.
Mr. Rickey said that there were three things you need to do in order to be a good farmer. Number one, you need to plant and harvest your crops. Number two, you need to mow your weeds regularly. Number three, you need to keep your mouth shut. (He mentioned he doesn’t do number three very well.) As much as he would love to say that his farming skills are the reason his yields are better than his father’s, he just simply can’t. Mr. Rickey is quick to credit the advancement of farming equipment/technology and new seed. The new farming equipment and technology is just unreal. Farmers are able to plant and harvest their crops way faster, more efficient, and easier than ever before. There is GPS technology in the tractors and combines that allow the machine to drive itself. With this technology, he always plants his crops in straight lines making it easier to later harvest. After switching to the GPS Auto-steer, Mr. Rickey was able to harvest five acres more a day of soybeans. He also credits GMO’s for his increased yields. He explained to the class that the seed used today is so much more productive and durable than ever before.
Along with the advancement of farming technology and equipment, the farmers have also changed. Farmers today aren’t your stereotypical rednecks wearing bibs and a straw hat with half their teeth gone. That is one thing that Mr. Rickey wants to be clear. He believes in dressing very proper and maintaining a professional image. At the end of the day, Mr. Rickey is a business man. He has to meet with his banker to ask for loans. If he doesn’t get that loan, it could be very difficult to finance his upcoming crops. That is why he makes it a goal to always make his banker his best friend. Keeping his banker happy is always a priority for him. It is important to him that he always maintains that professional image, and I think that is something we can all learn from him.
Paul Rickey’s visit to our class was truly something special. He is extremely dedicated to farming, and he loves it. Every day, he gets to wake up and do something that he loves to do. I hope that I can say the same thing one day. On behalf of the class, I want to say thank you for taking the time to come and speak to us.
Kyle Schultz
