Missouri Farmer-Lender Shares Lessons From Both Sides

As a farmer and ag lender, Drew Cox has a unique perspective on legacy, succession, and the future of agriculture in Missouri and beyond.

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Meet Drew Cox

Drew Cox has always wanted to continue the legacy of his family’s crop and cattle operation in north-central Missouri. As the seventh generation on that land, he said, “I don’t want to be the generation that messes things up.” 

Still, he said he knew from an early age that the farm wouldn’t be able to support him full time, at least not right away. Inspired by his father’s off-farm career in community banking, Cox became a commercial crop lender with FCS financial, where he serves west-central Missouri. He shares ownership of the farm with his parents and grandparents.

“I always recognized that college and a career path were going to be kind of a necessity, but I didn’t really consider being two hours away and not being able to be on the farm as much as I’d like,” he said. He said he and his wife, Tori, spend a couple of weekends a month at the farm and he’s able to help more during busy times such as harvest.

Skills Sharpening Skills

Cox said his two careers complement each other well. “Being a lender makes me a better farmer, but being a farmer makes me a better lender,” he said. “I see different perspectives and am able to look at things through a lens that I otherwise wouldn’t have been able to.

“One of the more rewarding pieces of this career is being able to help keep the next generation on the farm for my customers and help navigate some of their financial decisions.”

Being a lender has broadened his horizons, too, he said: “I always thought that I knew what Missouri agriculture was, because I grew up on a crop and cattle farm. Not only didn’t I understand what Missouri agriculture was, but I also didn’t understand the intricacies of differing operations and land bases and territories.”

Cox said he learned even more about agriculture in his state recently by taking part in Missouri Agricultural Leaders of Tomorrow. The 18-month program, sponsored by ag companies and industry and state associations, consists of 10 three-day sessions held across the state, a week meeting with legislators and trade associations in Washington, D.C, and two weeks abroad. He said he missed his class trip to Morocco but for good reason: He was with Tori as she gave birth to their first child.

Top Tips From a Farmer-Lender

Cox said the main lesson learned as a lender that he’d like to share with farmers is: Succession planning is important and it’s about more than just money — it’s about the next generation being heard and having the opportunity to lead. 

“You can have generations that may control the decision-making for a period of 10 or 15 years, and then the next generation that may control it for 30, and those folks may not recognize the fact that they haven’t passed the torch to the degree that it was passed to them,” he said. 

Being allowed to make decisions and even fail while still having the previous generation there for mentorship and support strengthens the next generation’s leadership and can help prevent burnout while waiting for their turn, he said.

Cox said he has experienced this struggle on his family farm, with some of his ideas being vetoed. “And that’s OK, because if you’re not the one on the farm every day doing the work, you probably shouldn’t be the squeakiest wheel either,” he said. “I just try to figure out how I can bridge the gap in communication across multiple generations because we’re all family, we all love each other, but the world we grew up in is different. I don’t know how you can always communicate in the best, most effective way, other than trying to understand the other side’s perspectives.”

Episode Highlights

• Cox grew up in north-central Missouri and spent summers working with his grandfather and father on the family farm.
• He represents the seventh generation of his family on the land purchased in 1883.
• Cox and wife, Tori, recently welcomed their first child, marking the farm’s eighth generation.
• He works as a commercial crop lender with FCS Financial, serving west-central Missouri, but still helps on the farm when he can.
• His lending career has broadened his understanding of Missouri agriculture beyond his own operation.
• Participating in Missouri’s Agricultural Leaders of Tomorrow program expanded his policy and global ag perspective.
• He stressed the importance of communication across generations in farm succession and noted that giving younger generations a chance to lead keeps them engaged in farming.
• He emphasized cooperation within his family as key to sustaining the farm’s legacy.

Links & Resources

Learn more about Missouri Ag Leaders of Tomorrow.

Read a profile on Cox from Missouri Farmers Care.

Listen to the Podcast

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