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PM-23-006: 2023 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Projected Prices and Volatility Factors

Date
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
Subject
2023 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Projected Prices and Volatility Factors

Common Crop Insurance Policy & Area Risk Protection Insurance 1

The 2023 CY projected prices shown below are approved for the following plans of insurance: Yield Protection, Area Yield Protection, Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion, and Area Revenue Protection - Harvest Price Exclusion. The 2023 CY volatility factors 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 projected prices and volatility factors apply to policies with a February 15 sales closing date and are applicable for the crops, types, practices, and states indicated below:

Crop/Type/Practice/StateExchangeContractProjected PriceVolatility Factor
Corn
Texas
CBOTDecember
Corn
$5.93 per bushel0.18
Corn - Organic Practice
Texas
CBOTDecember
Corn
$11.14 per bushel0.18
Grain Sorghum
Texas
CBOTDecember
Corn
$5.86 per bushel0.18
Grain Sorghum - Organic Practice
Texas
CBOTDecember
Corn
$12.26 per bushel0.18
Rice - Long Grain Type
Florida
CBOTNovember
Rice
$0.168 per pound0.11
Rice - Long Grain Type; Organic Practice
Florida
CBOTNovember
Rice
$0.225 per pound0.11
Rice - Medium and Short Grain Types
Florida
CBOTNovember
Rice
$0.254 per pound0.11
Rice - Medium and Short Grain Types; Organic Practice
Florida
CBOTNovember
Rice
$0.341 per pound0.11
1 Projected Prices and Volatility Factors are applicable for the Enhanced Coverage Option (ECO) and Supplemental Coverage Option (SCO), where available.

DISPOSAL DATE
December 31, 2023