Peanuts

Common Crop Insurance Policy & Area Risk Protection Insurance ¹

The 2018 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 with the Harvest Price Exclusion.

Background

On August 9, 2017 the Federal Crop Insurance Corporation (FCIC) Board of Directors approved a modification to the Peanut Revenue plan of insurance to allow the contract-based price to apply to revenue protection and revenue protection with the harvest price exclusion plans of insurance, an option previously only available for yield coverage.

Accordingly, the Peanut Revenue crop provisions, handbooks, and fact sheet have been updated to reflect this modification.

Common Crop Insurance Policy & Area Risk Protection Insurance ¹

The 2017 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.

Agrilogic Consulting, LLC (Agrilogic), the developers of the Peanut Revenue plan of insurance, advised the Federal Crop Insurance Corporation (FCIC) Board of Directors (Board) of their intent to maintain the Peanut Revenue plan of insurance and charge a user fee to approved insurance providers (AIP) selling the plan. Section 522(b)(4)(C) of the Federal Crop Insurance Act (Act) allows submitters to maintain approved 508(h) products and charge a user fee to approved insurance providers (AIP) that elect to sell the policy.

Common Crop Insurance Policy & Area Risk Protection Insurance ^1,2,3

The 2018 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 with the Harvest Price Exclusion.

Common Crop Insurance Policy ¹

The 2018 CY projected prices shown below are approved for the Yield Protection, Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance. The 2018 CY volatility factors shown below are approved for the Revenue Protection and Revenue Protection with Harvest Price Exclusion plans of insurance.

Background

The Federal Crop Insurance Corporation (FCIC) has expanded the number of counties where certain crops are insurable for the 2017 crop year. The following attachment, 2017 Expansion of Existing Spring Crops Programs, lists the expansion by crop, state, and county for permanently-established (non-pilot) programs. The Risk Management Agency is continuing the policy of expanding crop insurance programs, particularly where interest by producers has been shown of providing producers the opportunity and responsibility for managing their own risk for their farming operations.

As of July 03, 2017 the following information is now available on the FTP site:

• 2017 Actuarial Data Master for the 6/30, 8/31, 11/30 Filing Date, YTD, and Daily Files.

Users can find this information in the following directories:

• 2017 Actuarial Data Master are in the References/Actuarial_Data_Master/2017 directory.

Additional notes and details regarding this data release:

Background

The CEPP peanut factors necessary to establish the insured’s amount of protection under the peanut program for the 2017 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, 2016 to January 14, 2017. These factors apply only to states with a Sales Closing Date (SCD) of January 31, 2017.

Background

The Risk Management Agency (RMA) published a Final Rule with Comment in the Federal Register, effective for the 2017 and succeeding crop years, which revised the Crop Provisions that contained Prevented Planting coverage levels for all crops with a 2017 contract change date on or after November 23, 2016, and for the 2018 and succeeding crop years for all crops with a 2017 contract change date prior to November 23, 2016.