1.  

PRODUCT MANAGEMENT BULLETIN: PM–22-054

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 01, 2022

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    9/1/2022

Subject:

2022 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Harvest Prices, Malting Barley Endorsement Harvest Price Components, and Margin Protection Plan Margin Harvest Prices Announcement

Common Crop Insurance Policy & Area Risk Protection Insurance 1

The 2022 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 with the Harvest Price Exclusion. The harvest prices are applicable for the crops, sales closing dates, states, types, and practices indicated in the following table.

Crop/Practice/Sales Closing Date/
State/Type 		 Exchange
 Contract Harvest Price
Barley
September 30 Sales Closing Date
California (Winter & Spring Types), Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types), and Washington (Winter & Spring Types)
 CBOT
 September
Corn
 $5.61
per bushel
Barley – Organic Practice
September 30 Sales Closing Date
California (Winter & Spring Types), Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types), and Washington (Winter & Spring Types)
 CBOT
 September
Corn
 $11.98
per bushel
Barley
October 31 Sales Closing Date
Nevada (Winter & Spring Types) and Utah (Winter & Spring Types)
 CBOT
 September
Corn		 $5.61
per bushel
Barley – Organic Practice
October 31 Sales Closing Date
Nevada (Winter & Spring Types) and Utah (Winter & Spring Types)
 CBOT
 September
Corn
 $11.98
per bushel
Barley
March 15 Sales Closing Date
California (Winter Types w/o Winter Coverage Endorsement & Spring Types), 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, and Wyoming
 CBOT
 September Corn
 $5.61
per bushel
Barley – Organic Practice
March 15 Sales Closing Date
California (Winter Types w/o Winter Coverage Endorsement & Spring Types), 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, and Wyoming
 CBOT
 September Corn
 $11.98
per bushel
Canola
August 31 Sales Closing Date
Idaho (Fall Type(s)), Oregon (Fall Type(s)), and Washington (Fall Type(s))
 ICE
 November
Canola
 $0.295
per pound
Canola – Rapeseed Type*
August 31 Sales Closing Date
Idaho (Fall Type(s)), Oregon (Fall Type(s)), and Washington (Fall Type(s))
* Harvest Price is set equal to Projected Price.
 ICE
 November
Canola
 $0.335
per pound
Corn
January 31 Sales Closing Date
Texas
 CBOT
 September
Corn
 $6.32
per bushel
Corn – Organic Practice
January 31 Sales Closing Date
Texas
 CBOT
 September
Corn
 $12.55
per bushel
Corn
February 28 Sales Closing Date
Alabama, Florida, Georgia, Louisiana, and South Carolina
 CBOT
 September
Corn
 $6.32
per bushel
Corn – Organic Practice
February 28 Sales Closing Date
Alabama, Florida, Georgia, Louisiana, and South Carolina
 CBOT
 September
Corn
 $12.55
per bushel
Grain Sorghum
January 31 Sales Closing Date
Texas
 CBOT
 September
Corn
 $6.29
per bushel
Grain Sorghum – Organic Practice
January 31 Sales Closing Date
Texas
 CBOT
 September
Corn
 $13.16
per bushel
Grain Sorghum
February 28 Sales Closing Date
Alabama, Florida, Georgia, and South Carolina
 CBOT
 December
Corn
 $6.28
per bushel
Grain Sorghum – Organic Practice
February 28 Sales Closing Date
Alabama, Florida, Georgia, and South Carolina
 CBOT
 December
Corn
 $13.14
per bushel
Popcorn
March 15 Sales Closing Date
Alabama
 CBOT
 September
Corn
 $0.2718
per pound
Popcorn – Organic Practice
March 15 Sales Closing Date
Alabama
 CBOT
 September Corn
 $0.3912
per pound
Rice – Long Grain Type
January 31 Sales Closing Date
Texas
 CBOT
 September
Rice
 $0.171
per pound
Rice – Long Grain Type; Organic Practice
January 31 Sales Closing Date
Texas
 CBOT
 September
Rice
 $0.229
per pound
Rice – Medium & Short Grain Types
January 31 Sales Closing Date
Texas
 CBOT
 September
Rice
 $0.224
per pound
Rice – Medium & Short Grain Types; Organic Practice
January 31 Sales Closing Date
Texas
 CBOT
 September
Rice
 $0.299
per pound
Rice – Long Grain Type
February 28 Sales Closing Date
Louisiana
 CBOT
 September
Rice
 $0.171
per pound
Rice – Long Grain Type; Organic Practice
February 28 Sales Closing Date
Louisiana
 CBOT
 September
Rice
 $0.229
per pound
Rice – Medium & Short Grain Types
February 28 Sales Closing Date
Louisiana
 CBOT
 September
Rice
 $0.241
per pound
Rice – Medium & Short Grain Types; Organic Practice
February 28 Sales Closing Date
Louisiana
 CBOT
 September
Rice
 $0.323
per pound
Wheat
September 30 Sales Closing Date
Wisconsin (Winter)
 CBOT
 September
SRW
Wheat
 $7.84
per bushel
Wheat – Organic Practice
September 30 Sales Closing Date
Wisconsin (Winter)
 CBOT
 September
SRW
Wheat
 $15.92
per bushel
Wheat
September 30 Sales Closing Date
Montana (Winter) and Wyoming (Winter)
 KCBT
 September
HRW Wheat
 $8.70
per bushel
Wheat – Organic Practice
September 30 Sales Closing Date
Montana (Winter) and Wyoming (Winter)
 KCBT
 September
HRW Wheat
 $17.67
per bushel
Wheat – Organic Practice
September 30 Sales Closing Date
Montana (Winter) and Wyoming (Winter)
 KCBT
 September
HRW Wheat
 $17.67
per 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), Washington (Spring), Wisconsin (Spring), and Wyoming (Spring)
 MGE
 September
HRS Wheat
 $8.95
per 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), Washington (Spring), Wisconsin (Spring), and Wyoming (Spring)
 MGE
 September
HRS Wheat
 $18.18
per bushel
Wheat
October 31 Sales Closing Date
Nevada (Spring) and Utah (Spring)
 MGE
 September
HRS
Wheat
 $8.95
per bushel
Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Spring) and Utah (Spring)
 MGE
 September
HRS
Wheat
 $18.18
per 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), Vermont, Wisconsin (Spring), and Wyoming (Spring)
 MGE
 September
HRS
Wheat
 $8.95
per 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), Vermont, Wisconsin (Spring), and Wyoming (Spring)
 MGE
 September
HRS
Wheat
 $18.18
per bushel
Wheat – Durum Type
March 15 Sales Closing Date
Montana (Durum), North Dakota (Durum), and South Dakota (Durum)
 MGE
 September
HRS
Wheat
 $9.19
per bushel
Wheat – Durum Type; Organic Practice
March 15 Sales Closing Date
Montana (Durum), North Dakota (Durum), and South Dakota (Durum)
 MGE
 September
HRS
Wheat
 $18.67
per bushel
Wheat
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter), and Washington (Winter)
 AMS2
 August Cash
SW Wheat
 $8.84
per bushel
Wheat – Organic Practice
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter), and Washington (Winter)
 AMS2
 August Cash
SW Wheat
 $17.95
per bushel
Wheat
October 31 Sales Closing Date
Nevada (Winter) and Utah (Winter)
 AMS2
 August Cash
SW Wheat
 $8.84
per bushel
Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Winter) and Utah (Winter)
 AMS2
 August Cash
SW Wheat
 $17.95
per bushel
1 Harvest Prices are applicable for the Enhanced Coverage Option (ECO) and the Supplemental Coverage Option (SCO).
2 The USDA’s Agricultural Marketing Service (AMS) reports soft white wheat cash prices in its “Portland Daily Grain Bids” report.
       

Malting Barley Endorsement

The Malting Barley Endorsement (MBE) utilizes a Chicago Board of Trade (CBOT) soft red winter wheat price component to derive the 2022 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: Malting Barley Endorsement (usda.gov)

 

Malting Barley Type
 Exchange Contract Harvest Price
Winter Planted Type
 CBOT
 September
SRW Wheat
 $7.84
per bushel
Spring Planted Type
 CBOT
 September
SRW Wheat
 $7.84
per bushel
       
 
 
 
 
 
 
 
 

Margin Protection Plan

The following 2022 CY margin harvest prices are approved for the Margin Protection Plan of insurance. 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: Margin Protection for Corn, Rice, Soybeans, and Wheat | RMA (usda.gov)

 

Crop/Sales Closing Date/State/Type Exchange Contract Harvest Price
Rice – Long Grain Types
January 31 Sales Closing Date
Texas
 CBOT
 September
Rice
 $0.171
per pound
Rice – Medium & Short Grain Types
January 31 Sales Closing Date
Texas
 CBOT
 September
Rice		 $0.224
per pound
Rice – Long Grain Types
February 28 Sales Closing Date
Louisiana
 CBOT
 September
Rice
 $0.171
per pound
Rice – Medium & Short Grain Types
February 28 Sales Closing Date
Louisiana
 CBOT
 September
Rice
 $0.241
per pound
Wheat
September 30 Sales Closing Date
All Locations
 MGE September
HRS
Wheat
 $8.95
per bushel
       
DISPOSAL DATE
December 31, 2022
USDA is an Equal Opportunity Employer and Provider

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