Small Grains and Canola Revenue Harvest Prices Available
SPOKANE, Wash., Sept. 14, 2015 – USDA’s Risk Management Agency (RMA) today announced approved harvest prices for the 2016 crop year for revenue protection insurance plans within the Common Crop Insurance Policy for wheat, barley, fall canola, and rapeseed located in Alaska, Idaho, Oregon, and Washington.
For producers who bought either of the revenue protection plans, the harvest price is used to determine the calculated revenue. The harvest price is multiplied by the appraised and/or harvested production to determine the calculated revenue. The calculated revenue is subtracted from the final revenue guarantee to determine possible indemnities (insurance losses).
| Crop | Type | Harvest Price | Projected Price |
| Barley (Alaska) | Spring |
TBD approximately 10/1/15 | $4.03 |
| Barley |
Winter |
$3.18/bu. |
$3.41 |
| Barley |
Spring | $3.18/bu. | $3.51 |
| Canola |
Fall |
$0.168/lb. |
$0.178 |
| Canola |
Spring | TBD approximately 10/1/15 |
$0.161 |
| Rapeseed |
Fall | $0.216/lb. (set equal to Projected Price) | $0.216 |
| Rapeseed |
Spring | $0.195/lb. (set equal to Projected Price) | $0.195 |
| Wheat |
Winter | $5.55/bu. | $6.20 |
| Wheat |
Spring | $5.10/bu. | $6.55 |
| Wheat (Alaska) |
Spring | $5.10/bu. | $5.85 |
| Wheat (Klamath, OR) |
Spring | TBD approximately 10/1/15 | $5.85 |
| A list of crop insurance agents is available at all USDA Service Centers and online at the RMA Agent Locator. Growers can use the RMA Cost Estimator to get a premium amount estimate of their insurance needs online. Learn more about crop insurance and the modern farm safety net at www.rma.usda.gov. |
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Risk Management Agency:
11707 E Sprague Ave, Suite 304
Spokane, WA 99206-6125
Ben Thiel, Director
Contact:
FPAC Press Desk
FPAC.BC.Press@usda.gov