PRODUCT MANAGEMENT BULLETIN: PM–23-006
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Stop 0801
Washington, DC 20250-0801
Date
To:
All Risk Management Agency Field Offices
All Other Interested Parties
From:
Subject:
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Common Crop Insurance Policy & Area Risk Protection Insurance 1
The 2023 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 2023 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 apply to policies with a February 15 sales closing date and are applicable for the crops, types, practices, and states indicated below:
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DISPOSAL DATECrop/Type/Practice/State
Exchange Contract Projected
PriceVolatility
FactorCorn
Texas
CBOT December
Corn$5.93
per
bushel0.18 Corn - Organic Practice
Texas
CBOT
December
Corn$11.14
per
bushel0.18 Grain Sorghum
Texas
CBOT
December
Corn$5.86
per
bushel0.18 Grain Sorghum - Organic Practice
Texas
CBOT
December
Corn$12.26
per
bushel0.18 Rice - Long Grain Type
Florida
CBOT
November
Rice$0.168
per
pound0.11 Rice - Long Grain Type; Organic Practice
Florida
CBOT
November
Rice$0.225
per
pound0.11 Rice - Medium and Short Grain Types
Florida
CBOT
November
Rice$0.254
per
pound0.11 Rice - Medium and Short Grain Types; Organic Practice
Florida
CBOT
November
Rice$0.341
per
pound0.11 1 Projected Prices and Volatility Factors are applicable for the Enhanced Coverage Option (ECO) and Supplemental Coverage Option (SCO), where available.
December 31, 2023