All Risk Management Agency Field Offices
All Other Interested Parties
Common Crop Insurance Policy 1
The 2022 CY harvest prices shown below are approved for the following plans of insurance: Revenue Protection and Revenue Protection with Harvest Price Exclusion. The harvest prices are applicable for the crop, sales closing date, states, and practices indicated in the following table.
| Crop/Sales Closing Date/ State/Practice | Exchange | Contract | Harvest Price |
|---|---|---|---|
| Corn February 28 Sales Closing Date Arkansas and Mississippi | CBOT | December Corn | $6.58 per bushel |
| Corn – Organic Practice February 28 Sales Closing Date Arkansas and Mississippi | CBOT | December Corn | $13.07 per bushel |
| 1 Harvest Prices are applicable for the Enhanced Coverage Option (ECO) and the Supplemental Coverage Option (SCO). | |||
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 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 | Projected Price | Volatility Factor |
|---|---|---|---|---|
| Barley September 30 Sales Closing Date Colorado (Winter types), Delaware, Georgia, Illinois, Indiana, Kansas (Winter type), Kentucky, Maryland, Missouri, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia | CBOT | July Corn | $6.09 per bushel | 0.23 |
| Barley – Organic Practice September 30 Sales Closing Date Colorado (Winter types), Delaware, Georgia, Illinois, Indiana, Kansas (Winter type), Kentucky, Maryland, Missouri, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia | CBOT | July Corn | $13.02 per bushel | 0.23 |
| Barley September 30 Sales Closing Date New York (Winter type), Pennsylvania (Winter type), and West Virginia | CBOT | September Corn | $5.73 per bushel | 0.25 |
| Barley – Organic Practice September 30 Sales Closing Date New York (Winter type), Pennsylvania (Winter type), and West Virginia | CBOT | September Corn | $12.25 per bushel | 0.25 |
| Barley September 30 Sales Closing Date California (Winter types), Idaho (Winter types), Oregon (Winter types), and Washington (Winter types) | CBOT | September Corn | $5.73 per bushel | 0.26 |
| Barley – Organic Practice September 30 Sales Closing Date California (Winter types), Idaho (Winter types), Oregon (Winter types), and Washington (Winter types) | CBOT | September Corn | $12.25 per bushel | 0.26 |
| Barley March 15 Sales Closing Date California (Winter types w/o Winter Coverage Endorsement), Idaho (Winter types w/o Winter Coverage Endorsement), Oregon (Winter types w/o Winter Coverage Endorsement), and Washington (Winter types without Winter Coverage Endorsement) | CBOT | September Corn | $5.73 per bushel | 0.26 |
| Barley – Organic Practice March 15 Sales Closing Date California (Winter types w/o Winter Coverage Endorsement), Idaho (Winter types w/o Winter Coverage Endorsement), Oregon (Winter types w/o Winter Coverage Endorsement), and Washington (Winter types without Winter Coverage Endorsement) | CBOT | September Corn | $12.25 per bushel | 0.26 |
| Canola – Canola Type September 30 Sales Closing Date Alabama and Georgia | ICE | July Canola | $0.290 per pound | 0.26 |
| Canola – Rapeseed Type September 30 Sales Closing Date Alabama and Georgia | ICE | July Canola | $0.378 per pound | 0.00 |
| Wheat September 30 Sales Closing Date Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, and Tennessee | CBOT | July SRW Wheat | $8.40 per bushel | 0.31 |
| Wheat – Organic Practice September 30 Sales Closing Date Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, and Tennessee | CBOT | July SRW Wheat | $16.73 per bushel | 0.31 |
| Wheat September 30 Sales Closing Date Delaware, Illinois, Indiana, Iowa (Winter), Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Virginia, and West Virginia | CBOT | September SRW Wheat | $8.45 per bushel | 0.31 |
| Wheat – Organic Practice September 30 Sales Closing Date Delaware, Illinois, Indiana, Iowa (Winter), Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Virginia, and West Virginia | CBOT | September SRW Wheat | $16.83 per bushel | 0.31 |
| Wheat September 30 Sales Closing Date Wisconsin (Winter) | CBOT | September SRW Wheat | $8.45 per bushel | 0.33 |
| Wheat – Organic Practice September 30 Sales Closing Date Wisconsin (Winter) | CBOT | September SRW Wheat | $16.83 per bushel | 0.33 |
| Wheat September 30 Sales Closing Date Kansas, New Mexico (Winter and Spring), Oklahoma, and Texas (Winter and Spring) | KCBT | July HRW Wheat | $8.79 per bushel | 0.31 |
| Wheat – Organic Practice September 30 Sales Closing Date Kansas, New Mexico (Winter and Spring), Oklahoma, and Texas (Winter and Spring) | KCBT | July HRW Wheat | $17.51 per bushel | 0.31 |
| Wheat September 30 Sales Closing Date Colorado (Winter), Nebraska (Winter), and South Dakota (Winter) | KCBT | September HRW Wheat | $8.77 per bushel | 0.30 |
| Wheat – Organic Practice September 30 Sales Closing Date Colorado (Winter), Nebraska (Winter), and South Dakota (Winter) | KCBT | September HRW Wheat | $17.47 per bushel | 0.30 |
| Wheat September 30 Sales Closing Date Montana (Winter) and Wyoming (Winter) | KCBT | September HRW Wheat | $8.77 per bushel | 0.32 |
| Wheat – Organic Practice September 30 Sales Closing Date Montana (Winter) and Wyoming (Winter) | KCBT | September HRW Wheat | $17.47 per bushel | 0.32 |
| Wheat September 30 Sales Closing Date California (Winter), Idaho (Winter), Oregon (Winter), and Washington (Winter) | CBOT | September SRW Wheat with AMS Adjustment2 | $9.58 per bushel | 0.33 |
| Wheat – Organic Practice September 30 Sales Closing Date California (Winter), Idaho (Winter), Oregon (Winter), and Washington (Winter) | CBOT | September SRW Wheat with AMS Adjustment2 | $19.08 per bushel | 0.33 |
| Wheat September 30 Sales Closing Date Idaho (Spring), Oregon (Spring)*, and Washington (Spring) * The 2023 CY projected price for Klamath County, Oregon – Spring type will be derived at a later date, using a February 2023 projected price discovery period. | MGE | September HRS Wheat | $9.05 per bushel | 0.27 |
| Wheat – Organic Practice September 30 Sales Closing Date Idaho (Spring), Oregon (Spring)*, and Washington (Spring) * The 2023 CY projected price for Klamath County, Oregon – Spring type will be derived at a later date, using a February 2023 projected price discovery period. | MGE | September HRS Wheat | $18.03 per bushel | 0.27 |
| Wheat October 31 Sales Closing Date Nevada (Winter) and Utah (Winter) | CBOT | September SRW Wheat with AMS Adjustment2 | $9.58 per bushel | 0.33 |
| Wheat – Organic Practice October 31 Sales Closing Date Nevada (Winter) and Utah (Winter) | CBOT | September SRW Wheat with AMS Adjustment2 | $19.08 per bushel | 0.33 |
| Wheat – Organic Practice October 31 Sales Closing Date Nevada (Spring) and Utah (Spring) | MGE | September HRS Wheat | $9.05 per bushel | 0.27 |
| Wheat – Organic Practice October 31 Sales Closing Date Nevada (Spring) and Utah (Spring) | MGE | September HRS Wheat | $18.03 per bushel | 0.27 |
| Wheat – Durum Type September 30 Sales Closing Date New Mexico | MGE | July HRS Wheat | $11.26 per bushel | 0.23 |
| Wheat – Durum Type – Organic Practice September 30 Sales Closing Date New Mexico | MGE | July HRS Wheat | $22.44 per bushel | 0.23 |
| 1 Projected Prices are applicable for the Enhanced Coverage Option (ECO) and the Supplemental Coverage Option (SCO). 2 The USDA’s Agricultural Marketing Service (AMS) reports soft white wheat cash prices in its “Portland Daily Grain Bids” report. | ||||
Malting Barley Endorsement
The Malting Barley Endorsement (MBE) utilizes a Chicago Board of Trade (CBOT) soft red wheat price component to derive the 2023 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: https://www.rma.usda.gov/policy-procedure/crop-policies/malting-barley-endorsement-21-0091b
| Malt Barley Type | Exchange | Contract | Projected Price Component | Volatility Factor |
|---|---|---|---|---|
| Fall Planted Type | CBOT | September SRW Wheat | $8.45 per bushel | 0.33 |
Margin Protection Plan
The following 2023 CY margin projected prices and volatility factors 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. The expected margins for each crop/county are available at the following web page on RMA’s public website:
aibpf-rma.fpac.usda.gov/apps/ActuarialInformationBrowser/CropCriteria.aspx
Refer to the following web page on RMA’s public website for program details:
www.rma.usda.gov/about-crop-insurance/managing-farm-risk/insurance-plans
| Crop/States/Type | Exchange | Contract | Margin Projected Price | Volatility Factor |
|---|---|---|---|---|
| Corn – Grain Type All Insured States | CBOT | December Corn | $6.11 per bushel | 0.26 |
| Soybeans All Insured States | CBOT | November Soybeans | $13.56 per bushel | 0.21 |
| Wheat All Insured States | MGE | September HRS Wheat | $9.05 per bushel | 0.27 |
DISPOSAL DATE
December 31, 2023