Biotech Yield Assurance Helps Farmers Manage Risk
U.S. farmers can choose an additional risk management tool with Biotech Yield Assurance(SM) for the 2011 growing season. The crop insurance program links an insurance policy to the yield benefits of Genuity® Roundup Ready 2 Yield® Soybeans and Genuity SmartStax™ corn.
For an incremental premium, Biotech Yield Assurance will enable eligible farmers to increase coverage by 10 percent of the existing yield guarantee for each insured unit that is 100 percent planted to Genuity® Roundup Ready 2 Yield® Soybeans in the states of Illinois, Indiana, Iowa and Minnesota, and each insured unit that is 95 percent planted to Genuity SmartStax™ corn in the states of Iowa and Minnesota.
“Biotech Yield Assurance(SM) policy can help address the risk gap between new high-yielding genetics and actual production history (APH) used for insurance purposes,” said Ted Etheredge, President of ARMtech. “For example, a grower with an APH of 50 bushels and a Biotech Yield Assurance(SM) policy for Genuity® Roundup Ready 2 Yield® soybeans can bring his total unit coverage to 93.5 percent and insure an additional 4.25 bushels. That’s compared to a Multi-Peril Crop Insurance policy covering 85 percent of APH – the highest coverage possible under federal crop insurance policies today.”
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Source: Monsanto press release