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Product Management Bulletin-PM-23-006

Date
To
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
From
Richard H. Flournoy, Deputy Administrator
Subject
2023 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Projected Prices and Volatility Factors

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:

Crop/Type/Practice/State Exchange Contract Projected Price Volatility Factor
Corn Texas CBOT December Corn $5.93 per bushel 0.18
Corn - Organic Practice Texas CBOT December Corn $11.14 per bushel 0.18
Grain Sorghum Texas CBOT December Corn $5.86 per bushel 0.18
Grain Sorghum - Organic Practice Texas CBOT December Corn $12.26 per bushel 0.18
Rice - Long Grain Type Florida CBOT November Rice $0.168 per pound 0.11
Rice - Long Grain Type; Organic Practice Florida CBOT November Rice $0.225 per pound 0.11
Rice - Medium and Short Grain Types Florida CBOT November Rice $0.254 per pound 0.11
Rice - Medium and Short Grain Types; Organic Practice Florida CBOT November Rice $0.341 per pound 0.11
1 Projected Prices and Volatility Factors are applicable for the Enhanced Coverage Option (ECO) and Supplemental Coverage Option (SCO), where available.
DISPOSAL DATE December 31, 2023