St. Louis -- Farmers in four US states who plant a majority of their corn acres using hybrid seeds featuring Monsanto’s YieldGard Plus® with Roundup Ready® Corn 2 or YieldGard VT Triple™ technology will be eligible in 2008 for lower crop insurance premiums.

The Risk Management Agency of the US Department of Agriculture has announced the planned implementation of the Biotech Yield Endorsement for the 2008 crop year. This is an innovative crop insurance feature which will lower insurance premiums for non-irrigated corn producers in the pilot states and is available to be offered by all approved insurance providers.

The pilot will initially be available in Illinois, Indiana, Iowa, and Minnesota, with potential expansion to other states depending on results from the pilot programme. At present, Monsanto’s YieldGard triple-stack technologies are the only ones approved.

Robb Fraley, Executive Vice President and Chief Technology Officer for Monsanto Company likened the move to practices in car insurance: "Much like a 'safe-driver' discount in auto-insurance, this programme recognizes that our technologies are able to consistently deliver higher yields year after year."

The average cost of a total policy premium will be reduced by about 14% on revenue assurance policies. On average, this discount will amount to more than $2 per acre on the grower-paid portion of the premium.

"Producers are managing risk through crop insurance and by utilizing biotechnology. Biotech traits clearly reduce the risks for corn growers while increasing their yields. A crop insurance premium discount is one more benefit to using the technology," said National Corn Growers Association CEO Rick Tolman.

To be eligible, farmers must plant at least 75% of their corn acres on an insured unit basis to corn hybrids containing YieldGard VT Triple or YieldGard Plus with Roundup Ready Corn 2 technologies. EPA-mandated refuge requirements must also be respected.

Source:

News release. Corn farmers who use Monsanto advanced technology now eligible for lower risk premiums in four-state insurance pilot program. Monsanto (14.12.07) (http://monsanto.mediaroom.com/index.php?s=43&item=558)

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