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PRODUCT MANAGEMENT BULLETIN: PM–20-063

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 01, 2020

To:

All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties

From:

Richard Flournoy, Deputy Administrator /s/ John W. Underwood    9/1/2020

Subject:

2020 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Harvest Prices, Malting Barley Endorsement Harvest Price Components, and Margin Protection Plan Margin Harvest Prices Announcement

Common Crop Insurance Policy & Area Risk Protection Insurance 1

The 2020 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 with the 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/Practice		 Exchange Contract Harvest Price
Barley
September 30 Sales Closing Date
California (Winter & Spring Types), Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types) & Washington (Winter & Spring Types)		 CBOT September
Corn 		 $2.66/bushel
Barley – Organic Practice
September 30 Sales Closing Date
California (Winter & Spring Types), Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types) & Washington (Winter & Spring Types)		 CBOT September
Corn		 $5.67/bushel
Barley
October 31 Sales Closing Date
Nevada (Winter & Spring Types) & Utah (Winter & Spring Types)		 CBOT September
Corn
 $2.66/bushel
Barley – Organic Practice
October 31 Sales Closing Date
Nevada (Winter & Spring Types) & Utah (Winter & Spring Types)		 CBOT September
Corn		 $5.67/bushel
Barley
March 15 Sales Closing Date
California (Winter Types w/o Winter Coverage Endorsement & Spring Types), 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		 CBOT September
Corn		 $2.66/bushel
Barley – Organic Practice
March 15 Sales Closing Date
California (Winter Types w/o Winter Coverage Endorsement & Spring Types), 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		 CBOT September
Corn		 $5.67/bushel
Canola
August 31 Sales Closing Date
Idaho (Fall Type(s)), Oregon (Fall Type(s)) & Washington (Fall Type(s))		 ICE November
Canola		 $0.168/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.		 ICE November
Canola		 $0.225/pound
Corn
January 31 Sales Closing Date
Texas		 CBOT September
Corn		 $3.25/bushel
Corn – Organic Practice
January 31 Sales Closing Date
Texas		 CBOT September
Corn		 $7.26/bushel
Corn
February 28 Sales Closing Date
Alabama, Florida, Georgia, Louisiana & South Carolina		 CBOT September
Corn		 $3.25/bushel
Corn – Organic Practice
February 28 Sales Closing Date
 Alabama, Florida, Georgia, Louisiana & South Carolina		 CBOT September
Corn		 $7.26/bushel
Grain Sorghum
January 31 Sales Closing Date
Texas		 CBOT September
Corn		 $3.09/bushel
Grain Sorghum – Organic Practice
January 31 Sales Closing Date
Texas		 CBOT September
Corn		 $6.78/bushel
Grain Sorghum
February 28 Sales Closing Date
Alabama, Florida, Georgia & South Carolina		 CBOT December
Corn		 $3.21/bushel
Grain Sorghum – Organic Practice
February 28 Sales Closing Date
Alabama, Florida, Georgia & South Carolina		 CBOT December
Corn		 $7.05/bushel
Popcorn
March 15 Sales Closing Date
Alabama		 CBOT September
Corn		 $0.1398/pound
Popcorn – Organic Practice
March 15 Sales Closing Date
Alabama		 CBOT September
Corn		 $0.2012/pound
Rice – Long Grain Type
January 31 Sales Closing Date
Texas		 CBOT September
Rice		 $0.120/pound
Rice – Long Grain Type; Organic Practice
January 31 Sales Closing Date
Texas		 CBOT September
Rice		 $0.161/pound
Rice – Medium & Short Grain Types
January 31 Sales Closing Date
Texas		 CBOT September
Rice		 $0.127/pound
Rice – Medium & Short Grain Types; Organic Practice
January 31 Sales Closing Date
Texas		 CBOT September
Rice		 $0.170/pound
Rice – Long Grain Type
February 28 Sales Closing Date
Louisiana		 CBOT September
Rice		 $0.120/pound
Rice – Long Grain Type; Organic Practice
February 28 Sales Closing Date
Louisiana		 CBOT September
Rice		 $0.161/pound
Rice – Medium & Short Grain Types 
February 28 Sales Closing Date
Louisiana		 CBOT September
Rice		 $0.146/pound
Rice – Medium & Short Grain Types; Organic Practice
February 28 Sales Closing Date
Louisiana		 CBOT September
Rice		 $0.196/pound
Wheat
September 30 Sales Closing Date
Wisconsin (Winter)		 CBOT September
SRW
Wheat		 $5.14/bushel
Wheat – Organic Practice
September 30 Sales Closing Date
Wisconsin (Winter)		 CBOT September
SRW
Wheat		 $11.27/bushel
Wheat
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)		 KCBT September
HRW Wheat		 $4.35/bushel
Wheat – Organic Practice
September 30 Sales Closing Date
Montana (Winter) & Wyoming (Winter)		 KCBT September
HRW
Wheat
 $9.54/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), Washington (Spring), Wisconsin (Spring) & Wyoming (Spring)		 MGE September
HRS Wheat		 $5.06/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), Washington (Spring), Wisconsin (Spring) & Wyoming (Spring)		 MGE  September
HRS Wheat		 $11.09/bushel
Wheat
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)		 MGE September
HRS Wheat		 $5.06/bushel
Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Spring) & Utah (Spring)		 MGE September
HRS Wheat		 $11.09/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), Vermont, Wisconsin (Spring) & Wyoming (Spring)		 MGE September
HRS Wheat		 $5.06/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), Vermont, Wisconsin (Spring) & Wyoming (Spring)		 MGE September
HRS Wheat		 $11.09/bushel
Wheat – Durum Type
March 15 Sales Closing Date
Montana (Durum), North Dakota (Durum) & South Dakota (Durum)		 MGE September
HRS Wheat		 $5.23/bushel
Wheat – Durum Type; Organic Practice
March 15 Sales Closing Date
Montana (Durum), North Dakota (Durum) & South Dakota (Durum)		 MGE September
HRS Wheat		 $11.47/bushel
Wheat
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)		 PME August Cash
SW Wheat		 $5.40/bushel
Wheat – Organic Practice
September 30 Sales Closing Date
California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)		 PME August Cash
SW Wheat		 $11.84/bushel
Wheat
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)		 PME August Cash
SW Wheat		 $5.40/bushel
Wheat – Organic Practice
October 31 Sales Closing Date
Nevada (Winter) & Utah (Winter)		 PME August Cash
SW Wheat		 $11.84/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 2020 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:

https://www.rma.usda.gov/-/media/RMAweb/Policies/Malting-Barley/2018/Malting-Barley-Endorsement-18-0091b.ashx

 

Malting Barley Type Exchange Contract Harvest Price
Winter Planted Type
 CBOT September
SRW Wheat		 $5.14/bushel
Spring Planted Type CBOT September
SRW Wheat		 $5.14/bushel

 

Margin Protection Plan

The following 2020 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:

https://www.rma.usda.gov/en/Policy-and-Procedure/Insurance-Plans/Margin-Protection-for-Corn-Rice-Soybeans-and-Wheat

 

Crop/Sales Closing Date/State/Type Exchange Contract Harvest Price
Rice – Long Grain Types
January 31 Sales Closing Date
Texas		 CBOT September
Rice		 $0.120/pound
Rice – Medium & Short Grain Types
January 31 Sales Closing Date
Texas		 CBOT September
Rice		 $0.127/pound
Rice – Long Grain Types
February 28 Sales Closing Date
Louisiana		 CBOT September
Rice		 $0.120/pound
Rice – Medium & Short Grain Types
February 28 Sales Closing Date
Louisiana		 CBOT September
Rice		 $0.146/pound
Wheat
September 30 Sales Closing Date
All Locations		 MGE September
HRS
Wheat		 $5.06/bushel

 

 

DISPOSAL DATE:
December 31, 2020

USDA is an Equal Opportunity Employer and Provider

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