Program Could be Good BYE for Some Corn Growers
Posted: January 8, 2008
A new USDA pilot program will offer a premium rate discount to corn growers in four states who plant specific biotech seed.
USDA Risk Management Agency Administrator Eldon Gould says the pilot Biotech Yield Endorsement, or BYE for short, will be available in the states of Illinois, Indiana, Iowa, and Minnesota.
“Because of current technology and some genetic modifications, the farmer and the insurance company have less risk of production with triple-stack technology,” said Gould.
The BYE will provide producers a premium rate reduction if they plant non-irrigated corn for grain containing three specific biotech traits – YieldGard® Corn Borer, YieldGard Rootworm and Roundup Ready® Corn 2, which are only marketed under the trade names of “YieldGard® Plus with Roundup Ready® Corn 2” and “YieldGard VT Triple.”
All of these are Monsanto products, but Gould says its no show of government product endorsement. Monsanto was just the first to the table with a proposal and they are encouraging other companies with similar technology to submit proposals for the program.
NCGA supports the concept, according to president Ron Litterer of Iowa. “Not only for Monsanto but for any biotechnology company that can make the case that by using those products, it lowers the risk of providing a corn crop.”
RMA has not decided whether to offer the BYE for this crop year or next year.
Find out more from RMA on-line.