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Product Management Bulletin-PM-15-048 2015 Crop Year Common Crop Insurance Policy and Area Risk Protection Insurance Harvest Prices Announcement

Date
To
All Approved Insurance Providers
All Risk Management Agency Field Offices
All Other Interested Parties
From
Tim B. Witt, Deputy Administrator /s/ Tim B. Witt
Subject
2015 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance Harvest Prices Announcement

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

The 2015 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.

Crop/Sales Closing Date/State/Type/PracticeExchangeContractHarvest Price
Barley
March 15 Sales Closing Date
Alaska 
CBOTDecember
Corn
$3.68/bushel
Barley
March 15 Sales Closing Date
California
CBOTDecember
Corn
$3.27/bushel
Canola
August 31 Sales Closing Date
Idaho (Spring Type), Oregon (Spring Type) & Washington (Spring Type)
ICENovember
Canola
$0.160/pound
Canola – Rapeseed Type*
August 31 Sales Closing Date
Idaho (Spring Type), Oregon (Spring Type) & Washington (Spring Type) *Harvest Price is set equal to Projected Price.
ICENovember
Canola
$0.195/pound
Canola
March 15 Sales Closing Date
Idaho (Spring Type), Minnesota, Montana, North Dakota, Oregon (Spring Type) & Washington (Spring Type)
ICENovember
Canola
$0.160/pound
Canola – Rapeseed Type*
March 15 Sales Closing Date
Idaho (Spring Type), Montana, North Dakota, Oregon (Spring Type) & Washington (Spring Type)
*Harvest Price is set equal to Projected Price.
ICENovember
Canola
$0.195/pound
Corn
February 15 Sales Closing Date
Texas
CBOTDecember
Corn
$3.79/bushel
Corn – Organic Practice
February 15 Sales Closing Date
Texas
CBOTDecember
Corn
$7.13/bushel
Corn
February 28 Sales Closing Date
North Carolina
CBOTDecember
Corn
$3.79/bushel
Corn – Organic Practice
February 28 Sales Closing Date
North Carolina
CBOTDecember
Corn
$7.13/bushel
Corn
March 15 Sales Closing Date
Oklahoma & Texas
CBOTDecember
Corn
$3.79/bushel
Corn – Organic Practice
March 15 Sales Closing Date
Oklahoma & Texas
CBOTDecember
Corn
$7.13/bushel
Cotton
January 31 Sales Closing Date
Texas
ICEOctober
Cotton
$0.62/pound
Cotton – Organic Practice
January 31 Sales Closing Date
Texas
ICEOctober
Cotton
$1.17/pound
Grain Sorghum
February 15 Sales Closing Date
Texas
CBOTDecember
Corn
$3.64/bushel
Grain Sorghum – Organic Practice
February 15 Sales Closing Date
Texas
CBOTDecember
Corn
$5.58/bushel
Grain Sorghum
February 28 Sales Closing Date
Arkansas, Louisiana & Mississippi
CBOTDecember
Corn
$3.64/bushel
Grain Sorghum – Organic Practice
February 28 Sales Closing Date
Arkansas, Louisiana & Mississippi
CBOTDecember
Corn
$5.58/bushel
Grain Sorghum
March 15 Sales Closing Date
Texas
CBOTDecember
Corn
$3.64/bushel
Grain Sorghum – Organic Practice
March 15 Sales Closing Date
Texas
CBOTDecember
Corn
$5.58/bushel
Rice - Long Grain Type & No Type Specified
February 15 Sales Closing Date
Florida
CBOTNovember
Rice
$0.114/pound **
Rice - Medium & Short Grain Types
February 15 Sales Closing Date
Florida
CBOTNovember
Rice
$0.129/pound **
Rice - Long Grain Type & No Type Specified
February 28 Sales Closing Date
Arkansas, Mississippi & Texas
CBOTNovember
Rice
$0.112/pound **
Rice - Medium & Short Grain Types
February 28 Sales Closing Date
Arkansas, Mississippi & Texas
 
CBOTNovember
Rice
$0.127/pound **
Soybeans
January 31 Sales Closing Date
Texas
CBOTNovember
Soybeans
$8.76/bushel
Soybeans – Organic Practice
January 31 Sales Closing Date
Texas
CBOTNovember
Soybeans
$15.28/bushel

1 Harvest Prices are applicable for the Supplemental Coverage Option (SCO).
2 Harvest Prices are applicable for Stacked Income Protection (STAX) cotton policies.
** RMA is unable to offer revenue protection coverage for rice in 2015 due to insufficient open interest activity during the projected price discovery periods. [See Commodity Exchange Price Provisions (CEPP), Section I (www.rma.usda.gov/policy-procedure/crop-policies/commodity-exchange-price-provisions-section-general-information-14.pdf).] Yield protection coverage is provided, with the harvest prices set equal to the projected prices.

DISPOSAL DATE
December 31, 201