Method for using environmental classification to assist in financial management and services

• US 8,417,602 B2
• Filed: 12/09/2008
• Issued: 04/09/2013
• Est. Priority Date: 06/10/2005
• Status: Active Grant

• Current Assignee: Pioneer Hi-Bred International (Corteva, Inc.)
• Original Assignee: Pioneer Hi-Bred International (Corteva, Inc.)
• Inventors: Avey, Donald P., Bax, Phillip Lee, Brooke, Richard Glenn, Ertl, David S., Gogerty, Joseph K., Harwood, David J., Lauer, Michael J., Meyer, Terry Eu Claire, Peterson, Todd A.
• Primary Examiner(s): VEZERIS, JAMES A
• Application Number:
  US12/330,695
• Publication Number:
  US 20090089224A1
• Time in Patent Office: 1,582 Days
• Field of Search: 705/35
• US Class Current: 705/35
• CPC Class Codes: A01B 79/005 Precision agriculture
• CPC Class Codes: A01C 1/00 Apparatus, or methods of use thereof, for testing or treating seed, roots, or the like, prior to sowing or planting
• CPC Class Codes: A01C 21/00 Methods of fertilising , sowing or planting
• CPC Class Codes: A01H 1/04 Processes of selection involving genotypic or phenotypic markers; Methods of using phenotypic markers for selection
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/00 Commerce
• CPC Class Codes: G06Q 30/0256 User search
• CPC Class Codes: G06Q 30/0282 Rating or review of business operators or products
• CPC Class Codes: G06Q 30/0631 Item recommendations
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/02 Agriculture; Fishing; Forestry; Mining
• CPC Class Codes: Y02A 40/10 in agriculture
• CPC Class Codes: Y02A 40/22 Improving land use; Improving water use or availability; Controlling erosion

Abstract

Managing risks of crop production can be performed by understanding the relative performance of different agricultural inputs under the same or similar environmental conditions. In addition, managing of crop production risks can be performed by understanding variations in the performance of the same agricultural inputs over a range of environmental conditions. By being able to describe and understand these variations in performance, decisions can be made which are consistent with overall business and/or production objectives and limit risk associated with variations in environmental conditions. In addition to producers there are other stakeholders in the crop production process, such as financial institutions, insurance providers, users of crops produced, and input suppliers. These and other stakeholders can provide financial incentives to producers for managing crop production risks through use of environmental classification and/or genotype-by-environment information.

Claims

1. A method comprising:

evaluating, according to an environmental classification system, use of an agricultural input for crop production in a land base associated with a producer, wherein the land base associated with the producer is associated with an environmental classification according to the environmental classification system, and wherein the use of the agricultural input is evaluated based on a performance of the agricultural input in the environmental classification of the land base associated with the producer and a frequency of the environmental classification at the land base associated with the producer; and

determining, via a processor, lending terms, for a lender to finance the producer for the crop production using the agricultural input, based on the performance of the agricultural input in the environmental classification of the land base associated with the crop producer and the frequency of the environmental classification at the land base associated with the producer.

2. The method of claim 1 further comprising determining whether to finance the producer based on a result of said evaluation.

3. The method of claim 1 wherein the use of the agricultural input is a proposed use of the agricultural input for an upcoming growing season.

4. The method of claim 1 wherein the environmental classification system provides for correlating an environmental classification of the agricultural input with the environmental classification of the land base associated with the producer to evaluate the use of the agricultural input.

5. The method of claim 1 wherein the agricultural input comprises one or more seed products.

6. A system comprising:

a processor; and

a memory having stored thereon computer-executable instructions that, when executed by the processor, are configured to perform the following steps;

evaluate, according to an environmental classification system, use of an agricultural input for crop production in a land base associated with a producer, wherein the land base associated with the producer is associated with an environmental classification according to the environmental classification system, and wherein the use of the agricultural input is evaluated based on a performance of the agricultural input in the environmental classification of the land base associated with the producer and a frequency of the environmental classification at the land base associated with the producer; and

determine, via the processor, lending terms, for financing the crop production, based on the performance of the agricultural input in the environmental classification of the land base associated with the crop producer and the frequency of the environmental classification at the land base associated with the producer.

7. The system of claim 6 wherein the computer-executable instructions are further configured to determine whether to finance the producer based on a result of said evaluation.

8. The system of claim 6 wherein the use of the agricultural input is a proposed use of the agricultural input for an upcoming growing season.

9. The system of claim 6 wherein the environmental classification system provides for correlating an environmental classification of the agricultural input with the environmental classification of the land base associated with the producer to evaluate the use of the agricultural input.

10. The system of claim 6 wherein the agricultural input comprises one or more seed products.