Growers Edge Financial and GROWMARK Partner to Develop Yield Guarantee Program for Farmers
Helps Farmers Embrace New Technologies Without Financial Risk
Thursday, October 3, 2019 - Expanding data-driven solutions for the ag industry, Growers Edge Financial, Inc. (Growers Edge) and GROWMARK, Inc. today announced a strategic partnership to help farmers become more efficient and profitable. Growers Edge will provide a yield guarantee program for GROWMARK’s expansive North American customer network and an extension to its AgValidity technology testing platform.
“In today’s stressed farm economy, farmers are incredibly wary of taking on more financial risk – even when taking that leap could boost profitability. They need guarantees,” said Joe Young, president and chief operating officer, Growers Edge. “Working with strategic partners like GROWMARK, we are providing the financial incentives farmers need to confidently adopt the new technologies that can ultimately drive their long-term sustainability and business success.”
GROWMARK provides a broad mix of fuels, lubricants, crop nutrients, crop protection products, seed, construction services, equipment, and grain marketing assistance to retailers, businesses, farmers and other cooperatives in the United States, Canada and Mexico. Customers leveraging GROWMARK crop inputs and ag technology will be able to take advantage of the Growers Edge guarantee program to improve yield and profitability without the financial risk.
Based on GROWMARK Product Yield Trials and the Growers Edge Growers Analytic Prediction System (GAPS), an artificial intelligence platform, GROWMARK and Growers Edge have developed a proprietary Agronomic Performance Product (APP) specifically for GROWMARK crop inputs. When farmers follow the specified agronomic practices for the GROWMARK solutions, they are assured yield improvements backed by a performance guarantee provided by Growers Edge.
“GROWMARK is committed to helping our customers grow their bottom line with new ag technologies, which makes Growers Edge an ideal partner for us,” added Lance Ruppert, director of agronomy marketing technology, GROWMARK. “The Growers Edge team is removing some of the risk and creating a new value stream for both the farmer and our technology providers. We think the yield guarantee program will help customers deploy the technologies needed to improve profitability, and we are eager to see it in action.”
Required agronomic practices for the GROWMARK APP include implementing GROWMARK seed, grid soil sampling and variable rate fertilizer applications, as well as following farm-specific recommendations for phosphorus, potassium, lime, nitrogen, herbicides, fungicides, etc.
About Growers Edge Financial, Inc.
Growers Edge puts grower profits first by delivering grower income assurance through data-driven financial technology products, solutions and tools for the agricultural sector. Empowering farmers to adopt new technologies to increase profitability, Growers Edge solves the financial gaps of farmers by changing how agricultural inputs and services are sold, allowing them to capture more value and improve profits. Led by a proven team of crop management leaders and backed by top agtech investors, the company is headquartered in Johnston, Iowa. To learn more, visit growersedge.com.
GROWMARK is an agricultural cooperative with annual sales of $8.5 billion (FY 2018 data) providing agronomy, energy, facility planning, and logistics products and services, as well as grain marketing and risk management services throughout North America. Headquartered in Bloomington, Illinois, GROWMARK owns the FS trademark, which is used by affiliated member cooperatives. More information is available at www.growmark.com.