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PRODUCT MANAGEMENT BULLETIN: PM–20-070

United States Department of Agriculture


Farm and Foreign Agricultural Services


Risk Management Agency


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

Date

October 02, 2020

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    10/2/2020

Subject:

2020 Crop Year (CY) Common Crop Insurance Policy, Area Risk Protection Insurance and Margin Protection Plan Harvest Prices Announcement

Common Crop Insurance Policy and Area Risk Protection Insurance 1

The 2020 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
March 15 Sales Closing Date
Alaska		 CBOT December
Corn		 $5.41/bushel
Barley – Organic Practice
March 15 Sales Closing Date
Alaska		 CBOT December
Corn		 $11.55/bushel
Canola
August 31 Sales Closing Date
Idaho (Spring Type(s)), Oregon (Spring Type(s)) & Washington (Spring Type(s))		 ICE

November
Canola

 $0.177/pound
Canola – Rapeseed Type*
August 31 Sales Closing Date
Idaho (Spring Type(s)), Oregon (Spring Type(s)) & Washington (Spring Type(s))
*Harvest Price is set equal to Projected Price.		 ICE November
Canola		 $0.236/pound
Canola
March 15 Sales Closing Date
Idaho (Spring Type(s)), Minnesota, Montana, North Dakota, Oregon (Spring Type(s)) & Washington (Spring Type(s))		 ICE November
Canola		 $0.177/pound
Canola – Rapeseed Type*
March 15 Sales Closing Date
Idaho (Spring Type(s)), Montana, North Dakota, Oregon (Spring Type(s)) & Washington (Spring Type(s))
*Harvest Price is set equal to Projected Price.		 ICE November
Canola		 $0.236/pound
Corn
 February 15 Sales Closing Date
 Texas		 CBOT December
Corn		 $3.66/bushel
Corn – Organic Practice
February 15 Sales Closing Date
Texas		 CBOT December
Corn		 $8.18/bushel
Corn
February 28 Sales Closing Date
North Carolina		 CBOT December
Corn		 $3.66/bushel
Corn – Organic Practice
February 28 Sales Closing Date
North Carolina		 CBOT December
Corn		 $8.18/bushel
Corn
March 15 Sales Closing Date
Oklahoma & Texas		 CBOT December
Corn		 $3.66/bushel
Corn – Organic Practice
March 15 Sales Closing Date
Oklahoma & Texas		 CBOT December
Corn		 $8.18/bushel
Cotton 2
January 31 Sales Closing Date
Texas		 ICE December
Cotton		 $0.65/pound
Cotton – Organic Practice 2,3
January 31 Sales Closing Date
Texas		 ICE December
Cotton		 $1.03/pound
Grain Sorghum
February 15 Sales Closing Date
Texas		 CBOT December
Corn		 $3.48/bushel
Grain Sorghum – Organic Practice
February 15 Sales Closing Date
Texas		 CBOT December
Corn		 $7.63/bushel
Grain Sorghum
February 28 Sales Closing Date
Arkansas, Louisiana & Mississippi		 CBOT December
Corn		 $3.48/bushel
Grain Sorghum – Organic Practice
 February 28 Sales Closing Date
 Arkansas, Louisiana & Mississippi		 CBOT December
Corn		 $7.63/bushel
Grain Sorghum
March 15 Sales Closing Date
Texas		 CBOT December
Corn		 $3.48/bushel
Grain Sorghum – Organic Practice
March 15 Sales Closing Date
Texas		 CBOT December
Corn		 $7.63/bushel
Rice – Long Grain Type
February 15 Sales Closing Date
Florida		 CBOT November
Rice		 $0.124/pound
Rice – Long Grain Type
Organic Practice
February 15 Sales Closing Date
Florida		 CBOT November
Rice		 $0.166/pound
Rice – Medium & Short Grain Types
February 15 Sales Closing Date
Florida		 CBOT November
Rice		 $0.151/pound
Rice – Medium & Short Grain Types
Organic Practice
February 15 Sales Closing Date
Florida		 CBOT November
Rice		 $0.202/pound
Rice – Long Grain Type
February 28 Sales Closing Date
Arkansas, Mississippi & Texas		 CBOT November
Rice		 $0.124/pound
Rice – Long Grain Type
Organic Practice
February 28 Sales Closing Date
Arkansas, Mississippi & Texas		 CBOT November
Rice		 $0.166/pound
Rice – Medium & Short Grain Types
February 28 Sales Closing Date
Arkansas, Mississippi & Texas		 CBOT November
Rice		 $0.151/pound
Rice – Medium & Short Grain Types
Organic Practice
February 28 Sales Closing Date
Arkansas, Mississippi & Texas		 CBOT November
Rice		 $0.202/pound
Soybeans
January 31 Sales Closing Date
Texas		 CBOT  November
Soybeans		 $9.96/bushel
Soybeans – Organic Practice
January 31 Sales Closing Date
Texas		 Coverage is not available for the 2020 CY.

1 Harvest Prices are applicable for the Supplemental Coverage Option (SCO).
2 Harvest Prices are applicable for Stacked Income Protection (STAX) cotton policies.
3 For the 2020 CY, organic coverage is not available for all counties covered by the January 31 sales closing date. Check the Actuarial Information Browser at https://webapp.rma.usda.gov/apps/actuarialinformationbrowser/ for your specific county.

Margin Protection Plan

The following 2020 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:

https://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
Rice – Long Grain Type & No Type Specified
February 28 Sales Closing Date
Arkansas, Mississippi & Texas		 CBOT November
Rice		 $0.124/pound
Rice – Medium & Short Grain Types
 February 28 Sales Closing Date
 Arkansas, Mississippi & Texas		 CBOT November
Rice		 $0.151/pound

 

DISPOSAL DATE
December 31, 2020

USDA is an Equal Opportunity Employer and Provider

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