2008 Year in Review

Biotech Yield Endorsement Reviewed

Farmers in Illinois, Indiana, Iowa, and Minnesota will be able to receive discounts on crop insurance for non-irrigated corn grown for grain by using the Biotech Yield Endorsement (BYE), said a University of Illinois Extension farm financial management specialist.

"To be eligible for the discount, farmers must plant hybrids containing Monsanto-based technology with the following three traits: Roundup Ready; Corn 2, YieldGard; Corn Borer; and YieldGard; Rootworm," said Gary Schnitkey. "A list of the qualifying hybrids will be made available online at Biotech Yield Endorsement.

Schnitkey has prepared a report on BYE at farmdoc made available on U of I Extension's website.

He said the BYE discounts are offered because Monsanto provided three years' of comprehensive field-trial data to the USDA Risk Management Agency indicating that Monsanto-based triple-stacks hybrids have lower yield losses than conventional hybrids under drought and other stress conditions.

"Because yield losses are expected to be less, insurance payments are expected to be less," he said. "Lower expected payments then justify lower crop insurance premiums."

To be eligible to receive a BYE discount, a farmer must plant 75 percent of an insured unit of non-irrigated grain corn with hybrids containing Monsanto-based triple-stack traits. In addition, farmers using BYE must:

- sign a certification indicating that 75 percent of the insured unit is planted to eligible hybrids;

- maintain invoices indicating that sufficient quantities of eligible hybrids have been purchased to plant required acres; and

- be prepared for spot checks.

"During the growing season, spot checks of BYE-insured units will be made," Schnitkey said. "During a spot check, documentation listed above will be checked and seed dealers will be contacted to verify that the eligible hybrids have been purchased. Plant tissues will also be collected."

by  Editor, theCity1.com
February 12, 2008