Commodity Exchange Price Provisions
The Commodity Exchange Price Provisions (CEPP) are used in conjunction with either the Common Crop Insurance Policy Basic Provisions or the Area Risk Protection Insurance Basic Provisions, along with the Crop Provisions for the following crops: barley, canola (including rapeseed), corn, cotton, grain sorghum, rice, soybeans, sunflowers, and wheat.
In accordance with section 1 of either the Common Crop Insurance Policy Basic Provisions or the Area Risk Protection Insurance Basic Provisions, the CEPP specifies how and when the projected and harvest price components will be determined by crop. There are two sections contained in the CEPP:
- Section I: General Information. This section contains information relevant for all applicable crops, including definitions and common policy material.
- Section II: Price Definitions. This section contains crop-specific projected and harvest price definitions and specifications, including commodity exchanges, contracts, and discovery periods.
For CEPP documents that are not updated, the prior year's documents carry to the current year.
All CEPP documents except Section I: General Information and Section II: Soybeans are carried over from last year. RMA may elect to update CEPP documents at a future date. These future updates will occur no later than November 30, 2020.
For pricing methodologies referenced in the CEPP, the most current versions are posted at www.rma.usda.gov/Topics/Publications under "Price Election Methodology."
For more information, contact Revenue Support Team.