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Product Management Bulletin-PM-16-046

Date
To
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
From
Thomas W. Worth, Acting Deputy Administrator /s/ Thomas W. Worth
Subject
2016 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Harvest Prices, Malting Barley Endorsement Harvest Price Component, and Margin Protection Crop Component Harvest Prices Announcement

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

Crop/Sales Closing Date/ State/Type/PracticeExchangeContractHarvest Price
Barley
September 30 Sales Closing Date
Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types) & Washington (Winter & Spring Types)
CBOTSeptember Corn$2.83/bushel
Barley – Organic Practice
September 30 Sales Closing Date
Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types) & Washington (Winter & Spring Types)
CBOTSeptember Corn$5.18/bushel
Barley
October 31 Sales Closing Date
Nevada (Winter & Spring Types) & Utah (Winter & Spring Types)
CBOTSeptember Corn$2.83/bushel
Barley – Organic Practice
October 31 Sales Closing Date
Nevada (Winter & Spring Types) & Utah (Winter & Spring Types)
CBOTSeptember Corn$5.18/bushel
Barley
March 15 Sales Closing Date
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 & Wyoming
CBOTSeptember Corn$2.83/bushel
Barley – Organic Practice
March 15 Sales Closing Date
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 & Wyoming
CBOTSeptember Corn$5.18/bushel
Canola
August 31 Sales Closing Date
Idaho (Fall Type(s)), Oregon (Fall Type(s)) & Washington (Fall Type)
ICENovember Canola$0.161/pound
Canola – Rapeseed Type*
August 31 Sales Closing Date
Idaho (Fall Type(s)), Oregon (Fall Type(s)) & Washington (Fall Type(s))
* Harvest Price is set equal to Projected Price.
ICENovember Canola$0.201/pound
Corn
January 31 Sales Closing Date
Texas
CBOTSeptember Corn$3.23/bushel
Corn – Organic Practice
January 31 Sales Closing Date
Texas
CBOTSeptember Corn$7.05/bushel
Corn
February 28 Sales Closing Date
Alabama, Florida, Georgia, Louisiana & South Carolina
CBOTSeptember Corn$3.23/bushel
Corn – Organic Practice
February 28 Sales Closing Date
Alabama, Florida, Georgia, Louisiana & South Carolina
CBOTSeptember Corn$7.05/bushel
Grain Sorghum
January 31 Sales Closing Date
Texas
CBOTSeptember Corn$3.12/bushel
Grain Sorghum – Organic Practice
January 31 Sales Closing Date
Texas
CBOTSeptember Corn$4.76/bushel
Grain Sorghum
February 28 Sales Closing Date
Alabama, Florida, Georgia & South Carolina
CBOTDecember Corn$3.21/bushel
Grain Sorghum – Organic Practice
February 28 Sales Closing Date
Alabama, Florida, Georgia & South Carolina
CBOTDecember Corn$4.91/bushel
Popcorn
March 15 Sales Closing Date
Alabama
CBOTSeptember Corn$0.1421/pound
Popcorn – Organic Practice
March 15 Sales Closing Date
Alabama
CBOTSeptember Corn$0.2048/pound
Rice – Long Grain Type & No Type Specified
January 31 Sales Closing Date
Texas
CBOTSeptember
Rice
$0.098/pound
Rice – Long Grain Type & No Type Specified; Organic Practice
January 31 Sales Closing Date
Texas
CBOTSeptember
Rice
$0.131/pound
Rice – Medium & Short Grain Types
January 31 Sales Closing Date
Texas
CBOTSeptember
Rice
$0.111/pound
Rice – Medium & Short Grain Types; Organic Practice
January 31 Sales Closing Date
Texas
CBOTSeptember
Rice
$0.149/pound
Rice – Long Grain Type & No Type Specified
February 28 Sales Closing Date
Louisiana
CBOTSeptember
Rice
$0.098/pound
Rice – Long Grain Type & No Type Specified; Organic Practice
February 28 Sales Closing Date
Louisiana
CBOTSeptember
Rice
$0.131/pound
Rice – Medium & Short Grain Types
February 28 Sales Closing Date
Louisiana
CBOTSeptember
Rice
$0.112/pound
Rice – Medium & Short Grain Types; Organic Practice
February 28 Sales Closing Date
Louisiana
CBOTSeptember
Rice
$0.150/pound
Wheat
September 30 Sales Closing Date
Wisconsin (Winter)
CBOTSeptember
SRW Wheat
$4.07/bushel
Wheat – Organic Practice
September 30 Sales Closing Date
Wisconsin (Winter)
CBOTSeptember
SRW Wheat
$7.51/bushel
Wheat
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)
KCBTSeptember
HRW Wheat
$4.05/bushel
Wheat – Organic Practice
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)
KCBTSeptember
HRW Wheat
$7.48/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 & No Type Specified), Washington (Spring), Wisconsin (Spring) & Wyoming (Spring)
MGESeptember
HRS
Wheat
$5.04/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 & No Type Specified), Washington (Spring), Wisconsin (Spring) & Wyoming (Spring)
MGESeptember
HRS
Wheat
$9.30/bushel
Wheat
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)
MGESeptember
HRS
Wheat
$5.04/bushel
Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)
MGESeptember
HRS
Wheat
$9.30/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 & No Type Specified), Vermont, Wisconsin (Spring) & Wyoming (Spring)
MGESeptember
HRS
Wheat
$5.04/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 & No Type Specified), Vermont, Wisconsin (Spring) & Wyoming (Spring)
MGESeptember
HRS
Wheat
$9.30/bushel
Wheat – Durum Type
March 15 Sales Closing Date
Montana (Durum), North Dakota (Durum) & South Dakota (Durum)
MGESeptember
HRS
Wheat
$5.62/bushel
Wheat – Durum Type; Organic Practice
March 15 Sales Closing Date
Montana (Durum), North Dakota (Durum) & South Dakota (Durum)
MGESeptember
HRS
Wheat
$10.37/bushel
Wheat
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)
PMEAugust Cash SW Wheat$4.89/bushel
Wheat – Organic Practice
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)
PMEAugust Cash SW Wheat$9.03/bushel
Wheat
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)
PMEAugust Cash SW Wheat$4.89/bushel
Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)
PMEAugust Cash SW Wheat$9.03/bushel
1 Harvest Prices are applicable for the Supplemental Coverage Option (SCO).

Malting Barley Endorsement

The Malting Barley Endorsement (MBE) utilizes a Chicago Board of Trade (CBOT) soft red winter wheat price component to derive the 2016 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: www.rma.usda.gov/policy-procedure/crop-policies/malting-barley-endorsement-16-0091b

Malting Barley TypeExchangeContractHarvest Price
Winter Planted TypeCBOTSeptember
SRW Wheat
$4.07/bushel
Spring Planted TypeCBOTSeptember
SRW Wheat
$4.07/bushel

Margin Protection Plan

The following 2016 CY margin harvest prices are approved for the Margin Protection Plan. 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: www.rma.usda.gov/policy-procedure/general-policies/margin-protection.

Crop/Sales Closing Date/State/TypeExchangeContractHarvest Price
Rice – Long Grain Types
January 31 SCD
Texas
CBOTSeptember
Rice
$0.098/pound
Rice – Medium & Short Grain Types
January 31 SCD
Texas
CBOTSeptember
Rice
$0.111/pound
Rice – Long Grain Types
February 28 SCD
Louisiana
CBOTSeptember
Rice
$0.098/pound
Rice – Medium & Short Grain Types
February 28 SCD
Louisiana
CBOTSeptember
Rice
$0.112/pound
Wheat
September 30 SCD
All locations
MGESeptember
HRS
Wheat
$5.04/bushel

DISPOSAL DATE
May 1, 2017