PRODUCT MANAGEMENT BULLETIN: PM–16-046
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Stop 0801
Washington, DC 20250-0801
Date
September 02, 2016
To:
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
All Risk Management Agency Field Offices
All Other Interested Parties
From:
Thomas W. Worth, Acting Deputy Administrator /s/ Thomas W. Worth 9/2/2016
Subject:
2016 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Harvest Prices, Malting Barley Endorsement Harvest Price Component, and Margin Protection Crop Component Harvest Prices Announcement
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Common Crop Insurance Policy & Area Risk Protection Insurance 1
The 2016 CY harvest prices shown below are approved for the following plans of insurance: Revenue Protection; Area Revenue Protection; Revenue Protection with Harvest Price Exclusion; and Area Revenue Protection – Harvest Price Exclusion. The harvest prices are applicable for the crops, sales closing dates, states, types and practices indicated in the following table.
Crop/Sales Closing Date/ State/Type/Practice Exchange Contract Harvest Price Barley
September 30 Sales Closing Date
Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types) & Washington (Winter & Spring Types)
CBOT
September Corn $2.83/bushel Barley – Organic Practice
September 30 Sales Closing Date
Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types) & Washington (Winter & Spring Types)
CBOT
September Corn $5.18/bushel Barley
October 31 Sales Closing Date
Nevada (Winter & Spring Types) & Utah (Winter & Spring Types)
CBOT
September Corn $2.83/bushel Barley – Organic Practice
October 31 Sales Closing Date
Nevada (Winter & Spring Types) & Utah (Winter & Spring Types)
CBOT
September Corn $5.18/bushel Barley
March 15 Sales Closing Date
Colorado (Spring Types), Idaho (Winter Types w/o Winter Coverage Endorsement & Spring Types), Maine, Michigan, Minnesota, Montana, Nevada, North Dakota, Oregon (Winter Types w/o Winter Coverage Endorsement & Spring Types), South Dakota, Utah, Vermont, Washington (Winter Types w/o Winter Coverage Endorsement & Spring Types), Wisconsin & Wyoming
CBOT
September Corn $2.83/bushel Barley – Organic Practice
March 15 Sales Closing Date
Colorado (Spring Types), Idaho (Winter Types w/o Winter Coverage Endorsement & Spring Types), Maine, Michigan, Minnesota, Montana, Nevada, North Dakota, Oregon (Winter Types w/o Winter Coverage Endorsement & Spring Types), South Dakota, Utah, Vermont, Washington (Winter Types w/o Winter Coverage Endorsement & Spring Types), Wisconsin & Wyoming
CBOT
September Corn $5.18/bushel Canola
August 31 Sales Closing Date
Idaho (Fall Type(s)), Oregon (Fall Type(s)) & Washington (Fall Type)
ICE
November Canola $0.161/pound Canola – Rapeseed Type*
August 31 Sales Closing Date
Idaho (Fall Type(s)), Oregon (Fall Type(s)) & Washington (Fall Type(s)) * Harvest Price is set equal to Projected Price.
ICE
November Canola
$0.201/pound Corn
January 31 Sales Closing Date
Texas
CBOT
September Corn $3.23/bushel Corn – Organic Practice
January 31 Sales Closing Date
Texas
CBOT
September Corn $7.05/bushel Corn
February 28 Sales Closing Date
Alabama, Florida, Georgia, Louisiana & South Carolina
CBOT
September Corn $3.23/bushel Corn – Organic Practice
February 28 Sales Closing Date
Alabama, Florida, Georgia, Louisiana & South Carolina
CBOT
September Corn $7.05/bushel Grain Sorghum
January 31 Sales Closing Date
Texas
CBOT
September Corn $3.12/bushel Grain Sorghum – Organic Practice
January 31 Sales Closing Date
Texas
CBOT
September Corn $4.76/bushel Grain Sorghum
February 28 Sales Closing Date
Alabama, Florida, Georgia & South Carolina
CBOT
December Corn $3.21/bushel Grain Sorghum – Organic Practice
February 28 Sales Closing Date
Alabama, Florida, Georgia & South Carolina
CBOT
December Corn $4.91/bushel Popcorn
March 15 Sales Closing Date
Alabama
CBOT
September Corn $0.1421/pound Popcorn – Organic Practice
March 15 Sales Closing Date
Alabama
CBOT
September Corn $0.2048/pound Rice – Long Grain Type & No Type Specified
January 31 Sales Closing Date
Texas
CBOT
September Rice $0.098/pound Rice – Long Grain Type & No Type Specified; Organic Practice
January 31 Sales Closing Date
Texas
CBOT
September Rice $0.131/pound Rice – Medium & Short Grain Types
January 31 Sales Closing Date
Texas
CBOT
September Rice $0.111/pound Rice – Medium & Short Grain Types; Organic Practice
January 31 Sales Closing Date
Texas
CBOT
September Rice $0.149/pound Rice – Long Grain Type & No Type Specified
February 28 Sales Closing Date
Louisiana
CBOT
September Rice $0.098/pound Rice – Long Grain Type & No Type Specified; Organic Practice
February 28 Sales Closing Date
Louisiana
CBOT
September Rice $0.131/pound Rice – Medium & Short Grain Types
February 28 Sales Closing Date
Louisiana
CBOT
September Rice $0.112/pound Rice – Medium & Short Grain Types; Organic Practice
February 28 Sales Closing Date
Louisiana
CBOT
September Rice $0.150/pound Wheat
September 30 Sales Closing Date
Wisconsin (Winter)
CBOT
September SRW Wheat $4.07/bushel Wheat – Organic Practice
September 30 Sales Closing Date
Wisconsin (Winter)
CBOT
September SRW Wheat $7.51/bushel Wheat
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)
KCBT
September HRW Wheat $4.05/bushel Wheat – Organic Practice
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)
KCBT
September HRW Wheat $7.48/bushel Wheat
September 30 Sales Closing Date
California (Spring), Colorado (Spring), Idaho (Spring), Iowa (Spring), Montana (Spring & Khorasan), Nebraska (Spring), Oregon (Spring), South Dakota (Spring & No Type Specified), Washington (Spring), Wisconsin (Spring) & Wyoming (Spring)
MGE September HRS Wheat $5.04/bushel Wheat – Organic Practice
September 30 Sales Closing Date
California (Spring), Colorado (Spring), Idaho (Spring), Iowa (Spring), Montana (Spring & Khorasan), Nebraska (Spring), Oregon (Spring), South Dakota (Spring & No Type Specified), Washington (Spring), Wisconsin (Spring) & Wyoming (Spring)
MGE
September HRS Wheat $9.30/bushel Wheat
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)
MGE
September HRS Wheat $5.04/bushel Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)
MGE
September HRS Wheat $9.30/bushel Wheat
March 15 Sales Closing Date
Alaska, California (Spring), Colorado (Spring), Iowa (Spring), Maine, Minnesota, Montana (Spring & Khorasan), Nebraska (Spring), North Dakota (Spring & Khorasan), Oregon [Klamath County] (Spring), South Dakota (Spring & No Type Specified), Vermont, Wisconsin (Spring) & Wyoming (Spring)
MGE
September HRS Wheat $5.04/bushel Wheat – Organic Practice
March 15 Sales Closing Date
Alaska, California (Spring), Colorado (Spring), Iowa (Spring), Maine, Minnesota, Montana (Spring & Khorasan), Nebraska (Spring), North Dakota (Spring & Khorasan), Oregon [Klamath County] (Spring), South Dakota (Spring & No Type Specified), Vermont, Wisconsin (Spring) & Wyoming (Spring)
MGE
September HRS Wheat $9.30/bushel Wheat – Durum Type
March 15 Sales Closing Date
Montana (Durum), North Dakota (Durum) & South Dakota (Durum)
MGE
September HRS Wheat $5.62/bushel Wheat – Durum Type; Organic Practice
March 15 Sales Closing Date
Montana (Durum), North Dakota (Durum) & South Dakota (Durum)
MGE
September HRS Wheat $10.37/bushel Wheat
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)
PME
August Cash SW Wheat $4.89/bushel Wheat – Organic Practice
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)
PME
August Cash SW Wheat $9.03/bushel Wheat
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)
PME
August Cash SW Wheat $4.89/bushel Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)
PME
August Cash SW Wheat $9.03/bushel 1 Harvest Prices are applicable for the Supplemental Coverage Option (SCO).
Malting Barley Endorsement
The Malting Barley Endorsement (MBE) utilizes a Chicago Board of Trade (CBOT) soft red winter wheat price component to derive the 2016 CY harvest price for any insured whose malt barley contract provides for a premium amount above or below a base price to be determined, and in which the base price is not determined by the acreage reporting date. Please see the MBE for details: www.rma.usda.gov/policies/2016/16-0091b.pdf
Malting Barley Type Exchange Contract Harvest Price Winter Planted Type CBOT September SRW Wheat $4.07/bushel Spring Planted Type CBOT September SRW Wheat $4.07/bushel Margin Protection Plan
The following 2016 CY margin harvest prices are approved for the Margin Protection Plan. The margin projected price is used in conjunction with projected input prices and the expected county yield to derive the expected margin (per acre), trigger margin (per acre) and liability. Please see the following web page on RMA’s public website for program details: http://www.rma.usda.gov/policies/mp/index.html.
DISPOSAL DATECrop/Sales Closing Date/State/Type
Exchange Contract Harvest Price Rice – Long Grain Types
January 31 SCD
Texas
CBOT September Rice $0.098/pound Rice – Medium & Short Grain Types
January 31 SCD
Texas
CBOT September Rice $0.111/pound Rice – Long Grain Types
February 28 SCD
Louisiana
CBOT September Rice $0.098/pound Rice – Medium & Short Grain Types
February 28 SCD
Louisiana
CBOT September Rice $0.112/pound Wheat
September 30 SCD
All locations
MGE September HRS Wheat $5.04/bushel
May 1, 2017