NEWS
Monsanto-Climate Corp. Marriage
Wed Oct 2, 2013 03:29 PM CDT

HADDONFIELD, N.J. (DTN) -- The announcement that Monsanto will acquire high-tech weather insurer Climate Corporation for nearly $1 billion could fill the missing link in the seed company's fledgling prescription farming business, company executives say.

Climate Corporation is best known for applying Silicon Valley-style algorithms to the stuffy U.S. crop insurance industry, then selling policies insuring against perils like drought, excess rain or heat at pollination. That was a departure from traditional government-subsidized insurance based on actual yields and futures prices to determine insurance claims.

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