Biotech yield endorsement is good for America's corn growers
Agricultural biotechnology Web site Check Biotech posted a press release this week from Western Agricultural Insurance Company announcing it would begin offering farmers Biotech Yield Endorsement (BYE). The BYE program provides farmers with a lower crop insurance premium when they plant at least 75 percent of their insured acres with approved biotech corn. This sounds like a great program!
C.S. Prakash
Biotech yield endorsement is good for America's corn growers
Check Biotech
January 29, 2008
WEST DES MOINES, Iowa - Western Agricultural Insurance Company and its affiliate, Crop1 Insurance Direct, Inc., are among the first in the nation to offer farmers the new Biotech Yield Endorsement (BYE).
"The Biotech Yield Endorsement is really about innovation and doing what's right for America's farmers," said Bruce Trost, executive vice president of Western Agricultural Insurance Company. "BYE can help protect America's corn farmers against increasingly complex production risks, as well as reward them with a reduced crop insurance premium and higher yield. The BYE product is a significant improvement in crop insurance for corn growers because, given market conditions, there is unprecedented demand for higher and more stable corn production."
BYE is a pilot program available in Illinois, Indiana, Iowa and Minnesota. Those four states account for more than 50 percent of the corn acres harvested for grain in the United States.
Approved by the Federal Crop Insurance Corporation and administered by the Risk Management Agency, BYE provides eligible farmers an opportunity to pay lower crop insurance premiums when they plant at least 75 percent of their insured acres within each insured unit to non-irrigated corn for grain qualifying hybrids that contain YieldGard VT Triple(TM) and/or YieldGard Plus(R) with Roundup Ready(R) Corn 2. Research, backed by three years of comprehensive data from thousands of field trials, confirms that Monsanto's YieldGard(R) Triple Technology reduces annual production risk and increases yield. Only YieldGard VT Triple(TM) and YieldGard Plus(R) with Roundup Ready(R) Corn 2 are eligible for a crop insurance premium discount offered to qualified producers who purchase the Biotech Yield Endorsement.
