Biotech Yield Endorsement Expands
August 25, 2008 8:42 am Alfalfa, Corn, Economy, General, ManagementThe Biotech Yield Endorsement (BYE) is the first ever innovative crop insurance product that lowers premiums. The BYE also acknowledges the reduced risk and increased yield benefits growers receive when planting the majority of the acres to Monsanto’s YieldGard Triple Stack technologies, now including YieldGard VT Triple Pro. The Biotech Yield Endorsement (BYE) has been expanded to include 11 total corn producing states across the Midwest. (Click here to read more)
Insurance Observer :
Date: August 25, 2008 @ 1:29 pm
I hope that the approval of BYE does not give any farmer the idea that just planting the triple stack seed will reduce his risk enough to forego crop insurance.
Four out of the Five independent reviewers for the product paid by FCIC concluded that there was not enough evidence (risk reduction) to support the discount. It is painfully obvious that triple stack seed does not protect against heat, excess moisture, late planting, early freeze, plant disease, or hail, to name a few perils.
The approval of BYE and expansion of it to other proprietry seed companie’s similar products is a political play, at best, a vendetta against the crop insurance companies, or RMA incompetence, at worst.
You can be sure that the seed companies will “harvest” the discount from farmers with higher seed prices. They have already annouced that prices will go up for 2009.
Dr. Dick Bohling :
Date: August 29, 2008 @ 1:25 pm
To: The Insurance Observer
As a 35 year veteran of the seed business, providing agronomic services to farmers across the nation, I found your posting on the Biotech Endorsement of interest. The development of triple stacked seed is by far the most significant improvement in stress mitigation that I have observed in my career. You are exactly correct in that the YieldGard® Triple Stacked Technology does not protect against all the perils that you listed in your posting such as hail and frost. However, it does provide a significant yield advantage to farmers who are farming in environments where stress from heat, drought and pests significantly reduce yields in conventional products. I just returned from 4 day plot evaluation tour where we saw conventional hybrids planted next to YieldGard® triple stacked products and without exception, YieldGard triple stacked hybrids demonstrated significantly better health, plant intactness, stay green and will result in a yield advantage at harvest.
These observations are particularly evident in the stressed areas of northwest Ohio. In addition to these On-Farm plot observations, for the past three years Monsanto has conducted stress mitigation trials utilizing a tent type structure that assures that the plots are stressed by the cover over the crop. Under these simulated stress conditions triple stacked hybrids have demonstrated significant performance advantages. Let me share with you some highlights from Stress Mitigation research conducted over the past few years – stress mitigation trials have proven ( supported by University research) that YieldGard Triple Stack technology developed longer, healthier roots than soil insecticide-protected corn, which in turn resulted in significantly better moisture uptake. YieldGard protects the roots allowing them to go deeper into the soil profile, which improves water use efficiency compared to conventional hybrids treated with a soil insecticide. This improved moisture utilization resulted in an average 14.6 bushel per acre yield advantage compared to soil insecticide-protected hybrids based on over 500 comparisons. In addition, the fuller root mass of YieldGard Triple Stack hybrids was able to utilize about 3.0 more inches of subsoil moisture than corn protected with soil insecticides. The Stress Mitigation work done by Monsanto demonstrated how triple stack technology was able to reduce the stress (reduce the Risk) on corn plants. So, there is substantial data supporting triple stack technology and the reduction of risk to the farmer.
The Biotech Endorsement (BE) is similar to that of getting discounts for having fire alarms or burglar systems in your home- you gain reduced rates on your home owners. Farmers should have the same opportunity to gain better rates because they utilize technologies that give them a much better chance for higher yields. “Insurance Observer”, it is obvious that triple stack seed does in fact provide protection and risk reduction – that is the reason the Biotech Yield Endorsement was created by Monsanto and the Risk Management Agency – for farmers, it is a very smart business decision.
Sincerely yours,
Dr. Dick Bohling
Manager, Agronomic Services
Fielder’s Choice Direct
800-321-3177