PM-18-044 | Risk Management Agency

Date

September 5, 2018

All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties

From

Richard H. Flournoy, Deputy Administrator /s/Richard H. Flournoy

Subject

2018 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Harvest Prices, Malting Barley Endorsement Harvest Price Components, and Margin Protection Plan Margin Harvest Prices Announcement

Common Crop Insurance Policy & Area Risk Protection Insurance ¹

The 2018 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 with the Harvest Price Exclusion. The harvest prices are applicable for the crops, sales closing dates, states, types and practices indicated in the following table.

Crop/Sales Closing Date/ State/Type/Practice	Exchange	Contract	Harvest Price
Barley September 30 Sales Closing Date California (Winter & Spring Types), Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types) & Washington (Winter & Spring Types)	CBOT	September Corn	$3.03/bushel
Barley – Organic Practice September 30 Sales Closing Date California (Winter & Spring Types), Colorado (Spring Types), Idaho (Winter & Spring Types), Oregon (Winter & Spring Types) & Washington (Winter & Spring Types)	CBOT	September Corn	$6.46/bushel
Canola August 31 Sales Closing Date Idaho (Fall Type(s)), Oregon (Fall Type(s)) & Washington (Fall Type(s))	ICE	November Canola	$0.174/pound
Canola – Rapeseed Type* August 31 Sales Closing Date Idaho (Fall Type(s)), Oregon (Fall Type(s)) & Washington (Fall Type(s)) *Harvest Price is set equal to Projected Price.	ICE	November Canola	$0.246/pound
Corn January 31 Sales Closing Date Texas	CBOT	September Corn	$3.58/bushel
Corn – Organic Practice January 31 Sales Closing Date Texas	CBOT	September Corn	$8.20/bushel
Corn February 28 Sales Closing Date Alabama, Florida, Georgia, Louisiana & South Carolina	CBOT	September Corn	$3.58/bushel
Corn – Organic Practice February 28 Sales Closing Date Alabama, Florida, Georgia, Louisiana & South Carolina	CBOT	September Corn	$8.20/bushel
Grain Sorghum January 31 Sales Closing Date Texas	CBOT	September Corn	$3.46/bushel
Grain Sorghum – Organic Practice January 31 Sales Closing Date Texas	CBOT	September Corn	$7.47/bushel
Grain Sorghum February 28 Sales Closing Date Alabama, Florida, Georgia & South Carolina	CBOT	December Corn	$3.61/bushel
Grain Sorghum – Organic Practice February 28 Sales Closing Date Alabama, Florida, Georgia & South Carolina	CBOT	December Corn	$7.78/bushel
Popcorn March 15 Sales Closing Date Alabama	CBOT	September Corn	$0.1539/pound
Popcorn – Organic Practice March 15 Sales Closing Date Alabama	CBOT	September Corn	$0.2216/pound
Rice – Long Grain Type January 31 Sales Closing Date Texas	CBOT	September Rice	$0.108/pound
Rice – Long Grain Type; Organic Practice January 31 Sales Closing Date Texas	CBOT	September Rice	$0.145/pound
Rice – Medium & Short Grain Types January 31 Sales Closing Date Texas	CBOT	September Rice	$0.114/pound
Rice – Medium & Short Grain Types; Organic Practice January 31 Sales Closing Date Texas	CBOT	September Rice	$0.153/pound
Rice – Long Grain Type February 28 Sales Closing Date Louisiana	CBOT	September Rice	$0.108/pound
Rice – Long Grain Type; Organic Practice February 28 Sales Closing Date Louisiana	CBOT	September Rice	$0.145/pound
Rice – Medium & Short Grain Types February 28 Sales Closing Date Louisiana	CBOT	September Rice	$0.119/pound
Rice – Medium & Short Grain Types; Organic Practice February 28 Sales Closing Date Louisiana	CBOT	September Rice	$0.159/pound
Wheat September 30 Sales Closing Date Wisconsin (Winter)	CBOT	September SRW Wheat	$5.38/bushel
Wheat – Organic Practice September 30 Sales Closing Date Wisconsin (Winter)	CBOT	September SRW Wheat	$11.64/bushel
Wheat September 30 Sales Closing Date Montana (Winter) & Wyoming (Winter)	KCBT	September HRW Wheat	$5.45/bushel
Wheat – Organic Practice September 30 Sales Closing Date Montana (Winter) & Wyoming (Winter)	KCBT	September HRW Wheat	$11.79/bushel
Wheat September 30 Sales Closing Date California (Spring), Colorado (Spring), Idaho (Spring), Iowa (Spring), Montana (Spring & Khorasan), Nebraska (Spring), Oregon (Spring), South Dakota (Spring), Washington (Spring), Wisconsin (Spring) & Wyoming (Spring)	MGE	September HRS Wheat	$5.95/bushel
Wheat – Organic Practice September 30 Sales Closing Date California (Spring), Colorado (Spring), Idaho (Spring), Iowa (Spring), Montana (Spring & Khorasan), Nebraska (Spring), Oregon (Spring), South Dakota (Spring), Washington (Spring), Wisconsin (Spring) & Wyoming (Spring)	MGE	September HRS Wheat	$12.88/bushel
Wheat October 31 Sales Closing Date Nevada (Spring) & Utah (Spring)	MGE	September HRS Wheat	$5.95/bushel
Wheat – Organic Practice October 31 Sales Closing Date Nevada (Spring) & Utah (Spring)	MGE	September HRS Wheat	$12.88/bushel
Wheat March 15 Sales Closing Date Alaska, California (Spring), Colorado (Spring), Iowa (Spring), Maine, Minnesota, Montana (Spring & Khorasan), Nebraska (Spring), North Dakota (Spring & Khorasan), Oregon [Klamath County] (Spring), South Dakota (Spring), Vermont, Wisconsin (Spring) & Wyoming (Spring)	MGE	September HRS Wheat	$5.95/bushel
Wheat – Organic Practice March 15 Sales Closing Date Alaska, California (Spring), Colorado (Spring), Iowa (Spring), Maine, Minnesota, Montana (Spring & Khorasan), Nebraska (Spring), North Dakota (Spring & Khorasan), Oregon [Klamath County] (Spring), South Dakota (Spring), Vermont, Wisconsin (Spring) & Wyoming (Spring)	MGE	September HRS Wheat	$12.88/bushel
Wheat – Durum Type March 15 Sales Closing Date Montana (Durum), North Dakota (Durum) & South Dakota (Durum)	MGE	September HRS Wheat	$6.71/bushel
Wheat – Durum Type; Organic Practice March 15 Sales Closing Date Montana (Durum), North Dakota (Durum) & South Dakota (Durum)	MGE	September HRS Wheat	$14.51/bushel
Wheat September 30 Sales Closing Date California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)	PME	August Cash SW Wheat	$6.11/bushel
Wheat – Organic Practice September 30 Sales Closing Date California (Winter), Idaho (Winter), Oregon (Winter) & Washington (Winter)	PME	August Cash SW Wheat	$13.22/bushel
Wheat October 31 Sales Closing Date Nevada (Winter) & Utah (Winter)	PME	August Cash SW Wheat	$6.11/bushel
Wheat – Organic Practice October 31 Sales Closing Date Nevada (Winter) & Utah (Winter)	PME	August Cash SW Wheat	$13.22/bushel
¹ Harvest Prices are applicable for the Supplemental Coverage Option (SCO).

Malting Barley Endorsement

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

Malting Barley Type	Exchange	Contract	Harvest Price
Winter Planted Type	CBOT	September SRW Wheat	$5.38/bushel
Spring Planted Type	CBOT	September SRW Wheat	$5.38/bushel

Margin Protection Plan

The following 2018 CY margin harvest prices are approved for the Margin Protection Plan. The margin projected price is used in conjunction with projected input prices and the expected county yield to derive the expected margin (per acre), trigger margin (per acre) and liability. Please see the Margin Protection web page on RMA’s public website for program details.

Crop/Sales Closing Date/State/Type	Exchange	Contract	Harvest Price
Rice – Long Grain Types January 31 Sales Closing Date Texas	CBOT	September Rice	$0.108/pound
Rice – Medium & Short Grain Types January 31 Sales Closing Date Texas	CBOT	September Rice	$0.114/pound
Rice – Long Grain Types February 28 Sales Closing Date Louisiana	CBOT	September Rice	$0.108/pound
Rice – Medium & Short Grain Types February 28 Sales Closing Date Louisiana	CBOT	September Rice	$0.119/pound
Wheat September 30 Sales Closing Date All Locations	MGE	September HRS Wheat	$5.95/bushel

DISPOSAL DATE
December 31, 2018

Policy & Procedure

Product Management Bulletin-PM-18-044

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