1.  

INFORMATIONAL MEMORANDUM: PM–17-061

United States Department of Agriculture


Farm and Foreign Agricultural Services


Risk Management Agency


1400 Independence Avenue, SW
Stop 0801
Washington, DC  20250-0801

Date

November 01, 2017

To:

All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties

From:

Richard H. Flournoy, Deputy Administrator /s/ Richard H. Flournoy    11/1/2017

Subject:

2017 Crop Year (CY) Common Crop Insurance Policy, Area Risk Protection Insurance and Margin Protection Plan Harvest Prices Announcement
Common Crop Insurance Policy & Area Risk Protection Insurance 1

The 2017 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, types, practices, sales closing dates and states indicated in the following table.


Crop/Type/Practice/
Sales Closing Date/State
Exchange
 Contract Harvest Price
Corn
February 28 Sales Closing Date
Arizona, California & Nevada		 CBOT December
Corn		 $3.49/bushel
Corn - Organic Practice
February 28 Sales Closing Date
Arizona, California & Nevada		 CBOT December
Corn		 $7.99/bushel
Corn
March 15 Sales Closing Date
Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska,
New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, South Dakota, Tennessee, Utah, Vermont, Virginia, West Virginia, Wisconsin & Wyoming		 CBOT December
Corn		 $3.49/bushel
Corn – Organic Practice
March 15 Sales Closing Date
Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, South Dakota, Tennessee, Utah, Vermont, Virginia, West Virginia, Wisconsin & Wyoming		 CBOT December
Corn		 $7.99/bushel
Corn – High Amylose
March 15 Sales Closing Date
Illinois, Indiana, Iowa, Kansas, Missouri, Nebraska & South Dakota		 CBOT December
Corn		 $4.89/bushel
Cotton
February 28 Sales Closing Date
Alabama, Arizona, Arkansas, California, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina & Texas		 ICE December
Cotton		 $0.68/pound
Cotton – Organic Practice
February 28 Sales Closing Date
Alabama, Arizona, Arkansas, California, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina & Texas		 ICE December
Cotton		 $1.08/pound
Cotton
March 15 Sales Closing Date
Missouri, Tennessee, Texas & Virginia		 ICE December
Cotton		 $0.68/pound
Cotton – Organic Practice
March 15 Sales Closing Date
Missouri, Tennessee, Texas & Virginia		 ICE December
Cotton		 $1.08/pound
Grain Sorghum
February 28 Sales Closing Date
Arizona, California & North Carolina
CBOT December
Corn		 $3.37/bushel
Grain Sorghum – Organic Practice
February 28 Sales Closing Date
Arizona, California & North Carolina		 CBOT December
Corn		 $4.97/bushel
Grain Sorghum
March 15 Sales Closing Date
Colorado, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Maryland, Missouri, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Virginia & Wisconsin		 CBOT December
Corn		 $3.37/bushel
Grain Sorghum – Organic Practice
March 15 Sales Closing Date
Colorado, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Maryland, Missouri, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Virginia & Wisconsin		 CBOT December
Corn		 $4.97/bushel
Peanuts – Runner Type
January 31 Sales Closing Date
Texas		 CBOT/
ICE		 December
Wheat, Cotton, Soybean Oil & Soybean Meal		 $0.1924/pound
Peanuts – Spanish Type
January 31 Sales Closing Date
Texas		 CBOT/
ICE		 December
Wheat, Cotton, Soybean Oil & Soybean Meal		 $0.2520/pound
Peanuts – Runner Type
February 28 Sales Closing Date
Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina & Texas		 CBOT/
ICE		 December
Wheat, Cotton, Soybean Oil & Soybean Meal		 $0.1976/pound
Peanuts – Spanish Type
February 28 Sales Closing Date
Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi & Texas		 CBOT/
ICE		 December
Wheat, Cotton, Soybean Oil & Soybean Meal		 $0.2588/pound
Peanuts – Virginia Type
February 28 Sales Closing Date
Alabama, Florida, Georgia, Mississippi,
North Carolina & South Carolina		 CBOT/
ICE		 December
Wheat, Cotton, Soybean Oil & Soybean Meal		 $0.2193/pound
Peanuts – Runner Type
March 15 Sales Closing Date
New Mexico, Oklahoma, Texas & Virginia		 CBOT/
ICE		 December
Wheat, Cotton, Soybean Oil & Soybean Meal		 $0.2192/pound
Popcorn
March 15 Sales Closing Date
Colorado, Illinois, Indiana, Iowa, Kentucky, Minnesota, Missouri, Nebraska, Ohio, South Dakota, Tennessee & Wisconsin
CBOT December
Corn		 $0.1501/pound
Popcorn – Organic Practice
March 15 Sales Closing Date
Colorado, Illinois, Indiana, Iowa, Kentucky, Minnesota, Missouri, Nebraska, Ohio, South Dakota, Tennessee & Wisconsin		 CBOT December
Corn		 $0.2160/pound
Rice – Long Grain Type & No Type Specified
February 28 Sales Closing Date
California, Illinois, Missouri, Oklahoma & Tennessee		 CBOT November
Rice		 $0.119/pound
Rice – Long Grain Type & No Type Specified; Organic Practice
February 28 Sales Closing Date
California, Illinois, Missouri, Oklahoma & Tennessee		 CBOT November
Rice		 $0.159/pound
Rice – Medium & Short Grain Types
February 28 Sales Closing Date
Illinois, Missouri, Oklahoma & Tennessee		 CBOT November
Rice		 $0.126/pound
Rice – Medium & Short Grain Types;
Organic Practice
February 28 Sales Closing Date
Illinois, Missouri, Oklahoma & Tennessee		 CBOT November
Rice		 $0.169/pound
Rice – Medium & Short Grain Types
February 28 Sales Closing Date
California		 CBOT November
Rice		 $0.167/pound
Rice – Medium & Short Grain Types;
Organic Practice
February 28 Sales Closing Date
California		 CBOT November
Rice		 $0.224/pound
Soybeans
February 28 Sales Closing Date
Arkansas, Louisiana, Mississippi & Texas		 CBOT November
Soybeans		 $9.75/bushel
Soybeans – Organic Practice
February 28 Sales Closing Date
Arkansas, Louisiana, Mississippi & Texas		 CBOT November
Soybeans		 $19.64/bushel
Soybeans
March 15 Sales Closing Date
Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, New Jersey, New York, North Dakota, Ohio, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Vermont, Washington
& Wisconsin		 CBOT November
Soybeans		 $9.75/bushel
Soybeans – Organic Practice
March 15 Sales Closing Date
Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, New Jersey, New York, North Dakota, Ohio, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Vermont, Washington
& Wisconsin		 CBOT November
Soybeans		 $19.64/bushel
Sunflowers – Oil Type
March 15 Sales Closing Date
Colorado, Kansas, Minnesota, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Texas & Wyoming		 CBOT December
Soybean Oil		 $0.179/pound
Sunflowers – Oil Type;
Organic Practice
March 15 Sales Closing Date
Colorado, Kansas, Minnesota, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Texas & Wyoming		 CBOT December
Soybean Oil		 $0.288/pound
Sunflowers – Confectionary Type
March 15 Sales Closing Date
Colorado, Kansas, Minnesota, Montana, Nebraska, North Dakota,  Oklahoma, South Dakota, Texas & Wyoming		 CBOT December
Soybean Oil		 $0.269/pound
1 Harvest Prices are applicable for the Supplemental Coverage Option (SCO).

 

Margin Protection Plan

The following 2017 CY margin harvest prices are approved for the Margin Protection Plan. Margin harvest prices are used in conjunction with harvest input prices and final county yields to derive the harvest margin. Please see the following web page on RMA’s public website for program details: www.rma.usda.gov/Policy-and-Procedure/Insurance-Plans/Margin-Protection-for-Corn-Rice-Soybeans-and-Wheat


Crop/State/Type Exchange
  Contract Margin Harvest Price
Corn
September 30 Sales Closing Date
Iowa		 CBOT December
Corn		 $3.49/bushel
Rice - Long Grain Type & No Type Specified
February 28 Sales Closing Date
California & Missouri		 CBOT November
Rice		 $0.119/pound
Rice - Medium & Short Grain Types
February 28 Sales Closing Date
California		 CBOT November
Rice		 $0.167/pound
Rice - Medium & Short Grain Types
February 28 Sales Closing Date
Missouri		 CBOT November
Rice		 $0.126/pound
Soybeans
September 30 Sales Closing Date
Iowa		 CBOT November
Soybeans		 $9.75/bushel

DISPOSAL DATE
December 31, 2017
USDA is an Equal Opportunity Employer and Provider

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