PRODUCT MANAGEMENT BULLETIN: PM–16-051
United States Department of Agriculture
Farm and Foreign Agricultural Services
Risk Management Agency
1400 Independence Avenue, SW
Stop 0801
Washington, DC 20250-0801
Date
October 03, 2016
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 10/3/2016
Subject:
2016 Crop Year (CY) Common Crop Insurance Policy, Area Risk Protection Insurance and Margin Protection Plan Harvest Prices Announcement
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Common Crop Insurance Policy and Area Risk Protection Insurance 1 The 2016 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 – 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/PracticeExchange Contract Harvest Price Barley
March 15 Sales Closing Date
AlaskaCBOT December
Corn$3.35/bushel Barley – Organic Practice
March 15 Sales Closing Date
Alaska
CBOT
December
Corn$6.99/bushel Barley
March 15 Sales Closing Date
CaliforniaCBOT
December
Corn$2.92/bushel Barley – Organic Practice
March 15 Sales Closing Date
CaliforniaCBOT
December
Corn$5.35/bushel Canola
August 31 Sales Closing Date
Idaho (Spring Type(s)), Oregon (Spring Type(s)) & Washington (Spring Type(s))ICE
November
Canola$0.160/pound Canola – Rapeseed Type*
August 31 Sales Closing Date
Idaho (Spring Type(s)), Oregon (Spring Type(s)) & Washington (Spring Type(s))
*Harvest Price is set equal to Projected Price.ICE
November
Canola$0.203/pound Canola
March 15 Sales Closing Date
Idaho (Spring Type(s)), Minnesota, Montana, North Dakota, Oregon (Spring Type(s)) & Washington (Spring Type(s))ICE
November
Canola$0.160/pound Canola – Rapeseed Type*
March 15 Sales Closing Date
Idaho (Spring Type), Montana, North Dakota, Oregon (Spring Type(s)) & Washington (Spring Type(s))
*Harvest Price is set equal to Projected Price.ICE
November
Canola$0.203/pound Corn
February 15 Sales Closing Date
TexasCBOT
December
Corn$3.34/bushel Corn – Organic Practice
February 15 Sales Closing Date
TexasCBOT
December
Corn$7.29/bushel Corn
February 28 Sales Closing Date
North CarolinaCBOT
December
Corn$3.34/bushel Corn – Organic Practice
February 28 Sales Closing Date
North Carolina
CBOT
December
Corn$7.29/bushel Corn
March 15 Sales Closing Date
Oklahoma & Texas
CBOT
December
Corn$3.34/bushel Corn – Organic Practice
March 15 Sales Closing Date
Oklahoma & Texas
CBOT
December
Corn$7.29/bushel Cotton
January 31 Sales Closing Date
Texas
ICE
December
Cotton$0.69/pound Cotton – Organic Practice
January 31 Sales Closing Date
Texas
ICE
December
Cotton
$1.29/pound Grain Sorghum
February 15 Sales Closing Date
Texas
CBOT
December
Corn$3.22/bushel Grain Sorghum – Organic Practice
February 15 Sales Closing Date
Texas
CBOT
December
Corn$4.92/bushel Grain Sorghum
February 28 Sales Closing Date
Arkansas, Louisiana & Mississippi
CBOT
December
Corn$3.22/bushel Grain Sorghum – Organic Practice
February 28 Sales Closing Date
Arkansas, Louisiana & Mississippi
CBOT
December
Corn
$4.92/bushel Grain Sorghum
March 15 Sales Closing Date
Texas
CBOT
December
Corn
$3.22/bushel Grain Sorghum – Organic Practice
March 15 Sales Closing Date
Texas
CBOT
December
Corn
$4.92/bushel Rice - Long Grain Type & No Type Specified
February 15 Sales Closing Date
Florida
CBOT
November
Rice
$0.097/pound Rice - Long Grain Type & No Type Specified Organic Practice
February 15 Sales Closing Date
Florida
CBOT
November
Rice
$0.130/pound Rice - Medium & Short Grain Types
February 15 Sales Closing Date
Florida
CBOT
November
Rice
$0.111/pound Rice - Medium & Short Grain Types Organic Practice
February 15 Sales Closing Date
Florida
CBOT
November
Rice
$0.148/pound Rice - Long Grain Type & No Type Specified
February 28 Sales Closing Date
Arkansas, Mississippi & Texas
CBOT
November
Rice
$0.097/pound Rice - Long Grain Type & No Type Specified Organic Practice
February 28 Sales Closing Date
Arkansas, Mississippi & Texas
CBOT
November
Rice
$0.130/pound Rice - Medium & Short Grain Types
February 28 Sales Closing Date
Arkansas, Mississippi & Texas
CBOT
November
Rice
$0.111/pound Rice - Medium & Short Grain Types Organic Practice
February 28 Sales Closing Date
Arkansas, Mississippi & Texas
CBOT
November
Rice
$0.148/pound Soybeans
January 31 Sales Closing Date
Texas
CBOT
November
Soybeans
$9.61/bushel Soybeans – Organic Practice
January 31 Sales Closing Date
Texas
CBOT
November
Soybeans
$18.30/bushel 1 Harvest Prices are applicable for the Supplemental Coverage Option (SCO).
2 Harvest Prices are applicable for Stacked Income Protection (STAX) cotton policies.
Margin Protection Plan The following 2016 CY margin harvest prices are approved for the Margin Protection Plan. Margin harvest prices are used in conjunction with harvest input prices and final county yields to derive the harvest margin. Please see the following web page on RMA’s public website for program details: www.rma.usda.gov/policies/mp/index.html
Crop/State/Type
Exchange Contract Margin
Harvest PriceRice - Long Grain Type & No Type Specified
February 28 Sales Closing Date
Arkansas, Mississippi & TexasCBOT
November
Rice
$0.097/pound Rice - Medium & Short Grain Types
February 28 Sales Closing Date
Arkansas, Mississippi & Texas
CBOT
November
Rice
$0.111/pound DISPOSAL DATE
December 31, 2016