Date
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
Subject
Margin Protection Plan of Insurance - Modifications Effective for 2018 and Succeeding Crop Years
The Federal Crop Insurance Corporation (FCIC) Board of Directors (Board), on February 15, 2017, approved the following modifications to the Margin Protection (MP) Plan of Insurance for corn, wheat, rice and soybeans pilot program beginning with the 2018 crop year:
- Expanded MP for Corn and Soybeans to the following states: Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin;
- Changed the data source for Urea, diammonium phosphate, and monoammonium phosphate price discovery from Freight Investor Services to the Chicago Mercantile Exchange;
- Revised the methodology for determining the variable input quantities for corn and soybeans;
- Added a Harvest Price Option for all MP Crops; and
- Modified the process for determining Liability, Deductible, Coverage Level, and Indemnity.
The following materials will be available by close of business today on the Risk Management Agency Web site at www.rma.usda.gov/policies/mp/index.html.
- Margin Protection Plan Provisions (18-MP)
- Margin Price Provisions Section I: General Information (18-MPP)
- Margin Price Provisions Section II Commodity Price Definitions and Section III Commodity Input Definitions: Crop-Specific
- Corn
- Rice
- Soybeans
- Wheat
- Margin Protection Plan Insurance Standards Handbook