Mycogen Seeds offers early pay program and financing options

Indianapolis, Indiana
August 15, 2003

Growers can save money this year by taking advantage of Mycogen Seeds’ early pay discounts and financing options. Mycogen Seeds is offering a variety of plans through May 2004.

“We’ve formulated payment options to fit growers’ diverse needs,” says Cal Byl, Mycogen Seeds Credit Manager.  “They can choose whether they want to receive cash discounts by paying early or they may select a finance option.”

Cash Discounts

            “The earlier growers order and pay for their seed, the more money they will save with our cash discount program,” says Byl.  For example, with this program, growers paying by October 15, 2003 receive a 10 percent cash discount, while those paying by December 15, 2003 receive a 7.5 percent discount.  

Available seed discounts and payment dates for the 2003-2004 season.

Financing Options

In addition to the early pay discount program, Mycogen Seeds is offering a variety of financing options through Farm Plan^â.  Growers who finance Mycogen Seeds products can also finance qualifying Dow AgroSciences chemical purchases when used in conjunction with the Mycogen Seeds purchased. This season growers can choose from two financing options.

In the first option Mycogen Seeds offers Farm Plan Preferred growers seasonal terms with a floating rate of prime minus 1 percent Annual Percentage Rate (APR)* on seed purchased before March 20, 2004.  An early financing discount on seed purchases is also available through Mycogen Seeds dealers where growers will receive a 3 percent financing discount if they order by December 19, 2003 and a 2 percent discount if they order by January 16, 2004.  A $5,000 minimum initial purchase is required after all discounts.  Interest accrues from the date of purchase.

The second option through Farm Plan offers No Payments/No Interest on seed purchases for 120 days.  With this option, growers can buy seed today and make no payments and not accrue interest for 120 days.  This No Payments/No Interest option is not available with early pay or financing discounts.  A $2,500 minimum initial seed purchase is required.  The No Payments/No Interest option is available to growers through May 21, 2004.  Regular Farm Plan purchases are available at any time of year for growers with Farm Plan credit lines available.

To learn more about cash discounts, financing options or to apply for Farm Plan financing on Mycogen Seeds products, talk with your local Mycogen Seeds dealer.  Call 1-800-MYCOGEN for the dealer nearest you.

Mycogen Seeds is a wholly-owned subsidiary of The Dow Chemical Company and is an affiliate of Dow AgroSciences LLC.  Mycogen Seeds is the leader in Silage-Specificä corn, the largest sunflower seed producer, and a leading producer of seed corn, alfalfa, soybeans and sorghum.  For more information, please visit www.mycogen.com. 

*The amount will never be less than 0.0 percent.
^â Farm Plan is a trademark of Deere and Company.