Expanding data-driven solutions for the ag industry, Growmark Inc. and Growers Edge Financial Inc. have announced a strategic partnership to help farmers become more efficient and profitable. Growers Edge will provide a yield guarantee program for Growmark’s North American customer network and an extension to its AgValidity technology testing platform.
“In today’s stressed farm economy, farmers are wary of taking on more financial risk, even when taking that leap could boost profitability. They need guarantees,” says Joe Young, president of Growers Edge. “Working with strategic partners like Growmark, we are providing financial incentives farmers need to confidently adopt the new technologies that can drive their long-term sustainability and business success.”
Growmark provides a broad mix of fuels, lubricants, fertilizer, crop protection products, seed, construction services, equipment and grain marketing assistance to retailers, businesses, farmers and other cooperatives in the U.S., 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, Young says.
Based on Growmark Product Yield Trials and the Growers Edge Growers Analytic Prediction System (GAPS), an artificial intelligence platform, the two firms 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 ensured 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,” says Lance Ruppert, director of agronomy marketing technology for 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 using 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.
Companies partnering on program
Growers Edge Financial delivers grower income assurance through data-driven financial technology products, solutions and tools for the ag sector. Empowering farmers to adopt new technologies to increase profitability, Growers Edge solves the financial gaps of farmers by changing how ag inputs and services are sold, allowing them to capture more value and improve profits.
Led by a team of crop management specialists and backed by agtech investors, the company is headquartered in Johnston, Iowa. Visit growersedge.com to learn more.
Growmark is an ag cooperative with annual sales of $8.5 billion (fiscal year 2018) 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, Ill., Growmark owns the FS trademark used by affiliated member cooperatives. Visit growmark.com for more information.