Monsanto Triple Stack Technologies Only Product Approved for Irrigated
Acres
ST. LOUIS, Sept. 8 /PRNewswire-FirstCall/ -- Nebraska and Kansas
farmers who plant Monsanto Company (NYSE: MON) triple stack corn
technologies in 2009 on the majority of their irrigated and/or
non-irrigated acres will be eligible for savings on their qualifying crop
insurance premiums.
The opportunity for lower risk premiums is the result of the U.S.
Department of Agriculture's Federal Crop Insurance Corporation (FCIC)
recent announcement of expansion of the Biotechnology Yield Endorsement SM
(BYE) program to Nebraska and Kansas, among other states, for the 2009 crop
year. Under the expansion, the FCIC has renamed the program the Risk
Management Biotechnology Endorsement (BE).
Monsanto's triple stack technologies are the only products eligible for
a premium discount for irrigated practices in Kansas and Nebraska. In
Nebraska, nearly 70 percent of all corn acres in 2007 were irrigated. And
in Kansas, 42 percent of corn acres in 2007 were irrigated.
Keith Olsen, president of the Nebraska Farm Bureau and Steve Baccus,
president of the Kansas Farm Bureau, have both been vocal advocates for
expansion of the program. "First and foremost, the new BE program
represents real savings to growers," Olsen said. "Its expansion will
certainly encourage more currently insured growers to buy up coverage, and
it will prompt uninsured growers to purchase insurance."
Baccus adds, "The BYE program is an innovative and genuine improvement
in crop insurance for corn growers and its expansion is particularly
timely, given current market volatility and an unprecedented demand for
increased stability in corn production."
To be eligible for the premium discount, farmers must plant at least 75
percent of their irrigated and/or non irrigated corn for grain acres on an
insured unit basis including replanted acres to corn hybrids containing
YieldGard VT Triple(R), YieldGard VT Triple PRO(TM), or YieldGard(R) Plus
with Roundup Ready(R) Corn 2 technologies. Participation in this program
does not replace the importance of growers respecting the EPA-mandated
refuge requirements. These hybrids are available from more than 250 seed
companies.
"As one of the originators of the BYE program, Monsanto Company spent
more than two years gathering and analyzing thousands of data points from
more than three harvest years for the original pilot states," said Monsanto
New Business Manager Tim Hennessy. "This data demonstrated that Monsanto
YieldGard triple stack technologies effectively lower risk and deliver more
consistent yields."
"My insurance premiums have nearly doubled in the last couple years,"
estimates Don Cantrell, a corn producer from Merna, Neb. "We have twice as
much risk today because the crop is worth more. Anytime we can save $3 an
acre that helps. We're already planting triple stacks so that would mean
money coming back."
Adds Brian Baalman, a Menlo, Kan., producer: "As a Kansas corn farmer
who plants on irrigated acres, this is welcome news. Like farmers
everywhere, I am looking for an opportunity to lower my risk premiums, and
I like the idea of getting a premium reduction for investing in these
stacked corn varieties that are higher yielding and shown to withstand pest
pressures."
This 2008 innovative BYE program piloted in Illinois, Iowa, Indiana and
Minnesota, on average reduced the cost of qualifying crop insurance policy
premiums by more than $3 per acre. The crop insurance policies that qualify
for this discount are Actual Production History, Revenue Assurance, and
Crop Production Coverage and savings on these qualifying policies are
expected to be similar with the 2009 expanded pilot.
In addition to Kansas and Nebraska, the Biotechnology Endorsement
program is being expanded to Michigan, Missouri, Ohio, South Dakota, and
Wisconsin on non-irrigated acres.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based
solutions and agricultural products that improve farm productivity and food
quality. For more information on Monsanto, see: http://www.monsanto.com/.
Note to Editors: BYE, Biotech Yield Endorsement, Roundup Ready,
YieldGard, YieldGard VT Triple and YieldGard VT Triple PRO are trademarks
or service marks of Monsanto Technology LLC.
SOURCE Monsanto Company
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Related links:
http://www.monsanto.com
http://www.prnewswire.com/comp/114341.html/
CONTACT:
Mimi Ricketts of Monsanto Company,
+1-314-694-5703
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