PRODUCT MANAGEMENT BULLETIN: PM–16-048
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 15, 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 9/15/2016
Subject:
2016 Crop Year (CY) Common Crop Insurance Policy Harvest Prices and 2017 CY Common Crop Insurance Policy and Area Risk Protection Insurance Projected Prices and Volatility Factors
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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 crop, sales closing date, states and practices indicated in the following table.
Crop/Sales Closing Date/
State/PracticeExchange Contract Harvest Price Corn
February 28 Sales Closing Date
Arkansas & Mississippi
CBOT December
Corn$3.33bushel Corn - Organic Practice
February 28 Sales Closing Date
Arkansas & Mississippi
CBOT December
Corn$7.27/bushel 1 Harvest Prices are applicable for the Supplemental Coverage Option (SCO).
Common Crop Insurance Policy & Area Risk Protection Insurance 1
The 2017 CY projected prices shown below are approved for the following plans of insurance: Yield Protection, Area Yield Protection, Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion and Area Revenue Protection - Harvest Price Exclusion. The 2017 CY volatility factors 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 projected prices and volatility factors are applicable for the crops, sales closing dates, states, types and practices indicated in the following table.
DISPOSAL DATECrop/Sales Closing Date/
State/Type/Practice
Exchange Contract Projected
PriceVolatility
FactorBarley
September 30 Sales Closing Date
Colorado (Winter types), Delaware, Georgia, Illinois, Indiana, Kansas (Winter type), Kentucky, Maryland, Missouri, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas & Virginia
CBOT July
Corn$3.12/bushel 0.19 Barley – Organic Practice
September 30 Sales Closing Date
Colorado (Winter types), Delaware, Georgia, Illinois, Indiana, Kansas (Winter type), Kentucky, Maryland, Missouri, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas & Virginia
CBOT
July
Corn$6.66/bushel 0.19 Barley
September 30 Sales Closing Date
New York (Winter type), Pennsylvania (Winter type) & West Virginia
CBOT
September
Corn
$3.18/bushel 0.20 Barley – Organic Practice
September 30 Sales Closing Date
New York (Winter type), Pennsylvania (Winter type) & West Virginia
CBOT
September
Corn$6.79/bushel 0.20
Barley
September 30 Sales Closing Date
Idaho (Winter types), Oregon (Winter types) & Washington (Winter types)
CBOT
September
Corn$3.18/bushel 0.21
Barley – Organic Practice
September 30 Sales Closing Date
Idaho (Winter types), Oregon (Winter types) & Washington (Winter types)
CBOT
September
Corn$6.79/bushel 0.21
Barley
March 15 Sales Closing Date
Idaho (Winter types w/o Winter Coverage Endorsement), Oregon (Winter types w/o Winter Coverage Endorsement) & Washington (Winter types w/o Winter Coverage Endorsement)
CBOT
September
Corn$3.18/bushel 0.21
Barley – Organic Practice
March 15 Sales Closing Date
Idaho (Winter types w/o Winter Coverage Endorsement), Oregon (Winter types w/o Winter Coverage Endorsement) & Washington (Winter types w/o Winter Coverage Endorsement)
CBOT
September
Corn$6.79/bushel 0.21
Canola - Canola Type
September 30 Sales Closing Date
Alabama, Georgia, Illinois, Indiana, Kentucky, North Carolina, South Carolina, Tennessee and Virginia
ICE July
Canola
$0.170/pound 0.14 Canola - Rapeseed Type
September 30 Sales Closing Date
Alabama, Georgia, Illinois, Indiana, Kentucky, North Carolina, South Carolina, Tennessee & Virginia
ICE
July
Canola
$0.229/pound 0.00 Wheat
September 30 Sales Closing Date
Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina & Tennessee
CBOT
July
SRW Wheat
$4.59/bushel 0.19
Wheat – Organic Practice
September 30 Sales Closing Date
Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina & Tennessee
CBOT
July
SRW Wheat
$9.57/bushel 0.19
Wheat
September 30 Sales Closing Date
Delaware, Illinois, Indiana, Iowa (Winter), Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Virginia & West Virginia
CBOT
September
SRW Wheat
$4.74/bushel 0.20
Wheat – Organic Practice
September 30 Sales Closing Date
Delaware, Illinois, Indiana, Iowa (Winter), Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Virginia & West Virginia
CBOT
September
SRW Wheat
$9.88/bushel 0.20
Wheat
September 30 Sales Closing Date
Wisconsin (Winter)
CBOT
September
SRW Wheat
$4.74/bushel 0.21
Wheat – Organic Practice
September 30 Sales Closing Date
Wisconsin (Winter)
CBOT
September
SRW Wheat
$9.88/bushel 0.21
Wheat
September 30 Sales Closing Date
Kansas, New Mexico (Winter & Spring), Oklahoma & Texas (Winter & Spring)
KCBT
July
HRW Wheat
$4.59/bushel 0.18
Wheat – Organic Practice
September 30 Sales Closing Date
Kansas, New Mexico (Winter & Spring), Oklahoma & Texas (Winter & Spring)
KCBT
July
HRW Wheat
$9.57/bushel 0.18
Wheat
September 30 Sales Closing Date
Colorado (Winter), Nebraska (Winter) & South Dakota (Winter)
KCBT
September
HRW Wheat
$4.74/bushel 0.18
Wheat – Organic Practice
September 30 Sales Closing Date
Colorado (Winter), Nebraska (Winter) & South Dakota (Winter)
KCBT
September
HRW Wheat
$9.88/bushel 0.18
Wheat
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)
KCBT
September
HRW Wheat
$4.74/bushel 0.19
Wheat – Organic Practice
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)
KCBT
September
HRW Wheat
$9.88/bushel 0.19
Wheat
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)
CBOT
September
SRW Wheat with PME Adjustment
$5.45/bushel 0.21
Wheat – Organic Practice
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)
CBOT
September
SRW Wheat with PME Adjustment
$11.36/bushel 0.21
Wheat
September 30 Sales Closing Date
Idaho (Spring), Oregon (Spring)* & Washington (Spring)
* The 2017 CY projected price for Klamath County, Oregon – Spring type will be derived at a later date, using a February 2017 projected price discovery period.
MGE
September
HRS Wheat
$5.40/bushel 0.20
Wheat – Organic Practice
September 30 Sales Closing Date
Idaho (Spring), Oregon (Spring)* & Washington (Spring)
* The 2017 CY projected price for Klamath County, Oregon – Spring type will be derived at a later date, using a February 2017 projected price discovery period.
MGE September
HRS Wheat
$11.26/bushel 0.20
Wheat
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)
CBOT
September
SRW Wheat with PME Adjustment
$5.45/bushel 0.21
Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)
CBOT September
SRW Wheat with PME Adjustment
$11.36/bushel 0.21
Wheat
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)
MGE
September
HRS Wheat
$5.40/bushel 0.20
Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)
MGE
September
HRS Wheat
$11.26/bushel 0.20
Wheat – Durum Type
September 30 Sales Closing Date
New Mexico
MGE
July
HRS Wheat
$5.97/bushel 0.16 Wheat – Durum Type Organic Practice
September 30 Sales Closing Date
New Mexico
MGE
July
HRS Wheat
$12.44/bushel 0.16 1 Projected Prices are applicable for the Supplemental Coverage Option (SCO).
December 31, 2016