Peanuts

Common Crop Insurance Policy & Area Risk Protection Insurance ¹

Background

The CEPP peanut factors necessary to establish the insured’s amount of protection under the peanut program for the 2020 CY are identified below. The factors are applied to the commodity prices for wheat, cotton, soybean oil, and soybean meal during the discovery period of February 1, 2020 to February 28, 2020. These factors apply only to states with a Sales Closing Date (SCD) of March 15, 2020.

As of January 15, 2020 the following information is now available on the FTP site:

• 2019 Actuarial Data Master for the 6/30, 11/30 Filing Date, YTD, and Daily Files.
• 2020 Actuarial Data Master for the 6/30, 11/30 Filing Date, YTD, and Daily Files.

Users can find this information in the following directories:

Common Crop Insurance Policy ¹

The 2020 CY projected prices shown below are approved for the Yield Protection, Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The 2020 CY volatility factors shown below are approved for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The projected prices and volatility factors apply to policies with a January 31 sales closing date and are applicable for the crops, types, practices and states indicated below:

Background

The CEPP peanut factors necessary to establish the insured’s amount of protection under the peanut program for the 2020 CY are identified below. The factors are applied to the commodity prices for wheat, cotton, soybean oil, and soybean meal during the discovery period of January 15, 2020 to February 14, 2020. These factors apply only to states with a Sales Closing Date (SCD) of February 28, 2020 and are determined in accordance with the Peanut Price Methodology guidelines.

Background

The Federal Crop Insurance Corporation has expanded the number of counties where certain crops are insurable for the 2020 crop year. The following attachment, 2020 Expansion of Existing Spring Crops Programs, lists the expansion by crop, state, and county for permanently-established (non-pilot) programs.

Action

Approved Insurance Providers should advise producers of the expanded county crop programs for the 2020 crop year. 

DISPOSAL DATE:
December 31, 2020.

Background

The CEPP - Peanuts factors necessary to establish the insured’s amount of protection under the peanut program for the 2020 CY are identified below. The factors are applied to the commodity prices for wheat, cotton, soybean oil, and soybean meal during the discovery period of December 15, 2019 to January 14, 2020. These factors apply only to states with a Sales Closing Date (SCD) of January 31, 2020.

Background

Organic Rice Price Factor

The Risk Management Agency (RMA) offers distinct organic practice rice prices. The definitions and specifications for the organic practice rice prices are provided in the ‘Commodity Exchange Price Provisions (CEPP) Section II: Rice’ document.

The following 2020 CY organic practice price factor will be applied to the conventional practice rice prices, in accordance with the CEPP, to derive the organic practice rice prices:

Background

The Peanut Revenue crop insurance program currently has a maximum contract price factor of 1.20 for all types. Stakeholders in the peanut industry have requested the Federal Crop Insurance Corporation (FCIC) consider increasing the maximum contract price factor for some types. On November 15, 2019, under section 508(h) of the Federal Crop Insurance Act, the FCIC Board of Directors approved the following increases to the maximum contract price factors for peanuts:

Common Crop Insurance Policy & Area Risk Protection Insurance ^{1, 2}

The 2019 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, types, practices, sales closing dates and states indicated in the following table.