INFORMATIONAL MEMORANDUM: PM18-015




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

Date

March 02, 2018

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    3/2/2018

Subject:

2018 Crop Year (CY) Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement: Selected Projected Prices, Volatility Factors, and Additional Projected Prices, as applicable, for States with a March 15, 2018 Sales Closing Date (SCD).

Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement

The approved 2018 CY projected prices shown below are for the Yield Protection, Revenue Protection, and Revenue Protection with Harvest Price Exclusion plans of insurance. The approved 2018 CY volatility factors shown below are for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The projected prices and volatility factors are applicable for the states, crops, and types indicated in the subsequent tables.

As authorized by the Special Provisions, RMA is providing additional projected prices for selected dry bean and dry pea types where the Dry Bean Revenue Endorsement (DBRE) and Dry Pea Revenue Endorsement (DPRE) do not offer coverage for price movement. Per the Special Provisions, the additional projected price shall be the basis for the premium determination and settlement of claims.

 

Projected Prices and Volatility Factors apply to Supplemental Coverage Option (SCO), as appropriate.

2018 CY Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement: SelectedAdditional Projected Prices, Projected Prices, and Volatility Factors, as Applicable, for States with a March 15, 2018 SCD

Projected Prices:

Dry Beans
Michigan
DBRE - Revenue Types
Type / Organic Practice
Projected Price
Volatility Factor
CAT
Price (Yield Protection Only)
 ($ / pound)   ($ / pound)  ($ / pound)
 Black (non-organic)  $0.28  0.14  $0.1540
 Black (organic) *  $0.56  N/A  $0.3080
 Pea (Navy) (non-organic)  $0.28  0.14  $0.1540
 Pea (Navy) (organic) *  $0.56  N/A  $0.3080
 Small Red (non-organic)  $0.32  0.14  $0.1760
 Small Red (organic) *  $0.64  N/A  $0.3520
                                                                                                                       
Dry Beans
Minnesota and North Dakota
DBRE – Revenue Types
Type / Organic Practice
Projected Price
Volatility Factor
CAT
Price (Yield Protection Only)
 ($ / pound)   ($ / pound)  ($ / pound)
 Black (non-organic)  $0.25  0.14  $0.1375
 Black (organic) *  $0.50  N/A  $0.2750
 Dark Red Kidney (non-organic)  $0.37  0.14  $0.2035
 Dark Red Kidney (organic )*  $0.74  N/A  $0.4070
 Pea (Navy) (non-organic)  $0.27  0.14  $0.1485
 Pea (Navy) (organic) *  $0.54 N/A  $0.2970
 Pinto (non-organic)  $0.23  0.14  $0.1265
 Pinto (organic) *  $0.46 N/A  $0.2530
                                                                                                                                                                                                                                                                                                                                                                                               

 

* Premium organic projected prices are only being offered for the yield-based plans of insurance.

 

2018 CY Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement: Selected Additional Project ed Prices, Projected Prices, and Volatility Factors, as Applicable, for States
with a March 15, 2018 SCD

Projected Prices (Continued)

Dry Peas
Montana and North Dakota
DPRE – Revenue Types
Type / Organic Practice
Projected Price
Volatility Factor
CAT
Price (Yield Protection Only)
 ($ / pound)   ($ / pound)  ($ / pound)
 Spring Smooth Green/Yellow
(non-organic)
 $0.11  0.14  $0.0825
 - Spr. Sm. Green/Yellow (organic) *  $0.19  N/A  $0.1430
 Spring Lentils
(non-organic)
 $0.23  0.14  $0.1540
 - Spring Lentils (organic) *  $0.40  N/A  $0.2695
 Spring Small Kabuli Chickpeas
(non-organic)
 $0.26  0.14  $0.1265
 - Spr. Sm. Kabuli Chick. (organic) *  $0.46  N/A  $0.2200
 Spring Large Kabuli Chickpeas
(non-organic)
 $0.30  0.14  $0.1595
 - Spr. Lrg. Kabuli Chick. (organic) *  $0.53  N/A  $0.2805
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

* Premium organic projected prices are only being offered for the yield-based plans of insurance.

2018 CY Dry Pea and Dry B ean Crop Provisions and Revenue Endorsement: SelectedAdditional Project ed Prices, Projected Prices, and Volatility Factors, as Applicable, for Stateswith a March 15, 2018 SCD

Additional Projected Prices:

Dry Beans
Michigan
DBRE – Non-Revenue Types
Type / Organic Practice
Additional Projected Price
11/30/17 Projected Price
Updated CAT
Price (Yield Protection Only)
 ($ / pound)  ($ / pound)  ($ / pound)
 Cranberry (non-organic)  $0.37  $0.34  $0.2035
 Cranberry (organic)  $0.74  $0.68  $0.4070
 Dark Red Kidney (non-organic)  $0.37  $0.33  $0.2035
 Dark Red Kidney (organic)  $0.74  $0.66  $0.4070
 Light Red Kidney (non-organic)  $0.35  $0.34  $0.1925
 Light Red Kidney (organic)  $0.70  $0.68  $0.3850
 Small White (non-organic)  $0.28  $0.26  $0.1540
 Small White (organic)  $0.56  $0.52  $0.3080
 White Kidney (non-organic)  $0.37  $0.34  $0.2035
 White Kidney (organic)  $0.74  $0.68  $0.4070
 Adzuki (non-organic)  $0.32  $0.30  $0.1760
 Adzuki (organic)  $0.64  $0.60  $0.3520
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Dry Beans
Minnesota and North Dakota
DBRE – Non-Revenue Types
Type / Organic Practice
Additional Projected Price
11/30/17 Projected Price
Updated CAT Price (Yield Protection Only)
 ($ / pound)  ($ / pound)  ($ / pound)
 Cranberry (non-organic)  $0.37  $0.34  $0.2035
 Cranberry (organic)  $0.74  $0.68  $0.4070
 Light Red Kidney (non-organic)  $0.35  $0.34  $0.1925
 Light Red Kidney (organic)  $0.70  $0.68  $0.3850
 Small Red (non-organic)  $0.27  $0.25  $0.1485
 Small Red (organic)  $0.54  $0.50  $0.2970
 White Kidney (non-organic)  $0.37  $0.34  $0.2035
 White Kidney (organic)  $0.74  $0.68  $0.4070
                                                                                                                                                           

                                                                                                                                                                                                                                                                                                      2018 CY Dry Pea and Dry Bean Crop Provisions and Revenue Endorsement: SelectedAdditional Projected Prices, Projected Prices, and Volatility Factors, as Applicable, for States
with a March 15, 2018 SCD        

 

Dry Peas
Idaho, Montana, North Dakota and Washington
DPRE – Non-Revenue Types
Type / Organic Practice (not all types listed below may be available in all states)
Additional Projected Price
11/30/17 Projected Price
 Updated CAT
Price (Yield Protection Only)
 ($ / pound)  ($ / pound)  ($ / pound)
 Desi Chickpeas
(non-organic)
 $0.16  $0.15  $0.0880
 Desi Chickpeas
(organic)
 $0.28  $0.26  $0.1540
 Spring Austrian Peas, Forage Peas (non-organic)  $0.18  $0.14  $0.0990
 Spring Austrian Peas, Forage Peas (organic)  $0.32  $0.25  $0.1760
                                                                                           

 

 

 

December 31, 2018

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