PRODUCT MANAGEMENT BULLETIN: PM–24-004
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Stop 0801
Washington, DC 20250-0801
Date
January 16, 2024
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 H. Flournoy, Deputy Administrator /s/ Richard H. Flournoy 1/16/2024
Subject:
2024 Crop Year (CY) Commodity Exchange Price Provisions (CEPP) β Peanuts Factors: February 28, 2024, Sales Closing Date (SCD)
- Background
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The CEPP – Peanuts factors necessary to establish a producer’s amount of protection under the peanut program for the 2024 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 January 15, 2024, to February 14, 2024. These factors apply only to states with a SCD of February 28, 2024. 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.
- Action
-
The factor values for peanuts in states and counties with a February 28, 2024, SCD, as specified in the CEPP – Peanuts document for the 2024 CY are shown below.
The values for the exponent factors for each commodity exchange futures contract are:
Commodity Abbreviation Value Wheat
πΈπ€β -0.1340 Cotton
πΈπt 0.4186 Soybean Oil πΈπ o 0.3678 Soybean Meal πΈπ m -0.1324 The values for the price constant and price weighting factors are:
Variable Abbreviation Value Price Constant πΆ 0.1376 Price Weighting Formula π 0.5283 The values for the type factors are:
Type Abbreviation Value Runner ππu 1.00 Spanish ππ p 1.67 Valencia ππ£a 1.13 Virginia ππ£i 1.13 Additionally, the factor specifications for commodities utilized to determine price volatility are as follows:
Commodity Abbreviation Value Wheat πΊπ€β -0.1003 Cotton πΊπt 0.3178 Soybean Oil πΊπ o -0.2488 Soybean Meal πΊπ m 0.4701 The value for the volatility weighting factor is:
Variable Abbreviation Value Volatility Weighting Factor π 3.9830 DISPOSAL DATE:
December 31, 2024