Soybeans

Common Crop Insurance Policy & Area Risk Protection Insurance 1,2

The 2017 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, practices, sales closing dates and states indicated in the following table.

The 2017 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, types, practices, sales closing dates and states indicated in the following table.

The 2017 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.

The Malting Barley Endorsement (MBE) utilizes a Chicago Board of Trade (CBOT) soft red wheat price component to derive the 2018 CY projected price for any insured whose malt barley contract provides for a premium amount above or below a base price to be determined, and whose base price is not determined by the acreage reporting date. Please see the MBE for details: /policies/2018/18-0091b.pdf.

Background

The Federal Crop Insurance Corporation has expanded the number of counties where certain crops are insurable for the 2018 crop year. The following attachment, 2018 Expansion of Existing Spring Crops Programs, lists the expansion by crop, state, and county for permanently-established (non-pilot) programs.

Action

Approved Insurance Providers should advise agents and in turn producers of the expanded county crop programs for the 2018 crop year to allow producers the opportunity to purchase crop insurance.

Watts and Associates, Inc. (Watts), the developers of the Specialty Trait Soybeans (Specialty Soybean) plan of insurance, advised the Federal Crop Insurance Corporation (FCIC) Board of Directors (Board) of their intent to maintain the Specialty Soybean plan of insurance and charge a user fee to approved insurance providers (AIP) selling the plan. Section 522(b)(4)(C) of the Federal Crop Insurance Act (Act) allows submitters to maintain approved 508(h) products and charge a user fee to approved insurance providers (AIP) that elect to sell the policy.