23rd October 2019
New MySOYL digital tools enable better understanding of profitability across the rotation
A suite of new analysis tools from SOYL will enable growers to look at a range of financial performance metrics across their land and the complete farm rotation.
The new tools, launched autumn 2019, are part of SOYL’s precision data management application MySOYL which is accessed through Frontier’s MyFarm farm management platform.
Since the late nineties gross margin maps have been used to measure in field profitability but the new MySOYL tools take that analysis to a new level giving farmers with yield map data the ability to easily create ‘margin maps’ showing income, gross margin and net margin for each part of their land.
Simon Parrington, Commercial Director for SOYL says: “This type of analysis is essential for growers seeking to maximise returns from every part of every field. Being able to look at the profitability of each part of the field is useful in terms of informing agronomy decisions but also in identifying areas where Ecological Focus Areas or agri-environment options may be a better use of part of the field.
“It’s important to be able to look at multiple layers of yield and profitability data as in some cases parts of fields will look profitable in one year/crop type but deliver much poorer results for other crops. The MySOYL margin map tool lets farmers select multiple years and build a more complete picture of cumulative gross or net margin, often with surprising results. With growers starting to look forward to a new era of agricultural payments and the rising importance of ‘natural capital’ management it’s easy to see how this tool could be used to earmark areas better suited to environmental schemes.”
Richard Peck, Director of Sentry Farming who farms around 4,000 acres in Dorset says: “The ability to create gross and net margin maps in this new MySOYL tool is really valuable. We meticulously cost and budget for every expense for each of our farms and this allows us to take that analysis deeper into each part of the field.
“I particularly like the ability to create multiple year margin maps as this gives us the chance to see how a certain part of the field performs across a rotation rather than just for one crop. With change ahead for the industry this type of performance analysis is essential.”
The new functionality is live now in MySOYL and can be accessed for as little as £350 per year, there is no requirement to be a current SOYL customer.
“This type of analysis is essential for growers seeking to maximise returns from every part of every field.”
Simon Parrington, Commercial Director, SOYL.
You can learn more about the new tool in the below video tutorial.