PRODUCT MANAGEMENT BULLETIN: PM–17-055
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 15, 2017
To:
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
All Risk Management Agency Field Offices
All Other Interested Parties
From:
Richard Flournoy Deputy Administrator /s/ Richard H. Flournoy 9/15/2017
Subject:
2017 Crop Year (CY) Common Crop Insurance Policy Harvest Prices and 2018 CY Common Crop Insurance Policy and Area Risk Protection Insurance Projected Prices and Volatility Factors
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Common Crop Insurance Policy 1 The 2017 CY harvest prices shown below are approved for the following plans of insurance: Revenue Protection and Revenue Protection with Harvest Price Exclusion. The harvest prices are applicable for the crop, sales closing date, states and practices indicated in the following table.
Crop/sales Closing Date/ State/ Practice
Exchange Contract Harvest Price
Corn
February 28 Sales Closing Date
Arkansas & MississippiCBOT December
Corn$3.57/bushel Corn - Organic Practice
February 28 Sales Closing Date
Arkansas & Mississippi
CBOT December
Corn$8.17/bushel 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 - Harvest Price Exclusion. The 2018 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 are applicable for the crops, sales closing dates, states, types and practices indicated in the following table.
Crop/Sales Closing Date/
State/Type/Practice
Exchange Contract
Projected Price
Volatility Factor
Barley
September 30 Sales Closing Date
Colorado (Winter types), Delaware, Georgia, Illinois, Indiana, Kansas (Winter type), Kentucky, Maryland, Missouri, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas & VirginiaCBOT July
Corn$3.24/bushel 0.15 Barley – Organic Practice
September 30 Sales Closing Date
Colorado (Winter types), Delaware, Georgia, Illinois, Indiana, Kansas (Winter type), Kentucky, Maryland, Missouri, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas & Virginia
CBOT July
Corn$6.91/bushel 0.15 Barley
September 30 Sales Closing Date
New York (Winter type), Pennsylvania (Winter type) & West Virginia
CBOT September
Corn$3.29/bushel 0.17 Barley – Organic Practice
September 30 Sales Closing Date
New York (Winter type), Pennsylvania (Winter type) & West Virginia
CBOT September
Corn$7.02/bushel 0.17 Barley
September 30 Sales Closing Date
California (Winter types), Idaho (Winter types), Oregon (Winter types) & Washington (Winter types)
CBOT September
Corn$3.29/bushel 0.18 Barley – Organic Practice
September 30 Sales Closing Date
California (Winter types), Idaho (Winter types), Oregon (Winter types) & Washington (Winter types)CBOT September
Corn$7.02/bushel 0.18 Barley
March 15 Sales Closing Date
California (Winter types w/o Winter Coverage Endorsement), Idaho (Winter types w/o Winter Coverage Endorsement), Oregon (Winter types w/o Winter Coverage Endorsement) & Washington (Winter types w/o Winter Coverage Endorsement)CBOT September
Corn$3.29/bushel 0.18 Barley – Organic Practice
March 15 Sales Closing Date
California (Winter types w/o Winter Coverage Endorsement), Idaho (Winter types w/o Winter Coverage Endorsement), Oregon (Winter types w/o Winter Coverage Endorsement) & Washington (Winter types w/o Winter Coverage Endorsement)
CBOT September
Corn$7.02/bushel 0.18 Canola - Canola Type
September 30 Sales Closing Date
Alabama and Georgia
ICE July
Canola$0.187/pound 0.11 Canola - Rapeseed Type
September 30 Sales Closing Date
Alabama and GeorgiaICE July
Canola$0.257/pound 0.00 Wheat
September 30 Sales Closing Date
Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina & Tennessee
CBOT July
SRW Wheat$4.87/bushel 0.16 Wheat – Organic Practice
September 30 Sales Closing Date
Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina & Tennessee
CBOT July
SRW Wheat$10.54/bushel 0.16 Wheat
September 30 Sales Closing Date
Delaware, Illinois, Indiana, Iowa (Winter), Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Virginia & West VirginiaCBOT September
SRW Wheat$5.02/bushel 0.17 Wheat – Organic Practice
September 30 Sales Closing Date
Delaware, Illinois, Indiana, Iowa (Winter), Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Virginia & West Virginia
CBOT September
SRW Wheat$10.86/bushel 0.17 Wheat
September 30 Sales Closing Date
Wisconsin (Winter)
CBOT September
SRW Wheat$5.02/bushel 0.18 Wheat – Organic Practice
September 30 Sales Closing Date
Wisconsin (Winter)CBOT September
SRW Wheat$10.86/bushel 0.18 Wheat
September 30 Sales Closing Date
Kansas, New Mexico (Winter & Spring), Oklahoma & Texas (Winter & Spring)
KCBT July
HRW Wheat$4.87/bushel 0.16 Wheat – Organic Practice
September 30 Sales Closing Date
Kansas, New Mexico (Winter & Spring), Oklahoma & Texas (Winter & Spring)
KCBT July
HRW Wheat$10.54/bushel 0.16 Wheat
September 30 Sales Closing Date
Colorado (Winter), Nebraska (Winter) & South Dakota (Winter)KCBT September
HRW Wheat$5.08/bushel 0.16 Wheat – Organic Practice
September 30 Sales Closing Date
Colorado (Winter), Nebraska (Winter) & South Dakota (Winter)KCBT September
HRW Wheat$10.99/bushel 0.16 Wheat
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)KCBT September
HRW Wheat5.08/bushel 0.17 Wheat – Organic Practice
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)KCBT September
HRW Wheat$10.99/bushel 0.17 Wheat
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)CBOT September
SRW Wheat
with PME Adjustment$5.92/bushel 0.18 Wheat – Organic Practice
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)
CBOT September
SRW Wheat
with PME Adjustment$12.81/bushel 0.18 Wheat
September 30 Sales Closing Date
Idaho (Spring), Oregon (Spring)* & Washington (Spring)
*The 2018 CY projected price for Klamath County, Oregon – Spring type will be derived at a later date, using a February 2018 projected price discovery period.
MGE September
HRS Wheat$6.30/bushel 0.30 Wheat – Organic Practice
September 30 Sales Closing Date
Idaho (Spring), Oregon (Spring)* & Washington (Spring)
*The 2018 CY projected price for Klamath County, Oregon – Spring type will be derived at a later date, using a February 2018 projected price discovery period.
MGE September
HRS Wheat$13.63/bushel 0.30 Wheat
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)
CBOT September
SRW Wheat with PME Adjustment$5.92/bushel 0.18 Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)CBOT September
SRW Wheat with PME Adjustment$12.81/bushel 0.18 Wheat
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)MGE September
HRS Wheat$6.30/bushel 0.30 Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)MGE September
HRS Wheat$13.63/bushel 0.30 Wheat – Durum Type
September 30 Sales Closing Date
New MexicoMGE July
HRS Wheat$7.71/bushel 0.19 Wheat – Durum Type
Organic Practice
September 30 Sales Closing Date
New MexicoMGE July
HRS Wheat$16.68/bushel 0.19 1 Projected Prices are applicable for the Supplemental Coverage Option (SCO).
DISPOSAL DATE
December 31, 2018