The CEPP – Peanuts factors necessary to establish the insured’s amount of protection under the peanut program for the 2023 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, 2022, to January 14, 2023. These factors apply only to states with a Sales Closing Date (SCD) of January 31, 2023. They are determined in accordance with the Peanut Price Methodology guidelines published and available at rma.usda.gov/-/media/RMA/Policies/CEPP/2021/Commodity-Exchange-Price-Provisions---Peanuts-21-CEPP-PT.ashx.

The factor values for peanuts in states and counties with a January 31, 2023, SCD, as specified in the CEPP – Peanuts document for the 2023 crop year, are shown below.

The values for the exponent factors for each commodity exchange futures contract are:

Commodity	Abbreviation	Value
Wheat	𝐸𝑤ℎ	-0.1534
Cotton	𝐸𝑐t	0.2835
Soybean Oil	𝐸𝑠o	0.4074
Soybean Meal	𝐸𝑠m	-0.0980

The values for the price constant and price weighting factors are:

Variable	Abbreviation	Value
Price Constant	𝐶	0.1423
Price Weighting Formula	𝑊	0.3861

The values for the type factors are:

Type	Abbreviation	Value
Runner	𝑇𝑟u	1.00
Spanish	𝑇𝑠p	1.57
Valencia	𝑇𝑣a	1.13
Virginia	𝑇𝑣i	1.13

Additionally, the factor specifications for commodities utilized to determine price volatility are as follows:

Commodity	Abbreviation	Value
Wheat	𝐺𝑤ℎ	-0.0246
Cotton	𝐺𝑐t	0.3598
Soybean Oil	𝐺𝑠o	0.0181
Soybean Meal	𝐺𝑠m	0.0518

The value for the volatility weighting factor is:

Variable	Abbreviation	Value
Volatility Weighting Factor	𝑉	4.9455

DISPOSAL DATE:
December 31, 2023