Soybeans

BACKGROUND:

The Federal Crop Insurance Corporation (FCIC) Board of Directors approved changes to the Hemp crop insurance program, under section 508(h) of the Federal Crop Insurance Act, on August 22, 2024.

The following changes are applicable for the 2025 and succeeding crop years:

For the Common Crop Insurance Policy and Area Risk Protection Insurance, the Risk Management Agency (RMA) approved 2024 CY harvest prices for insurance offers with a harvest price discovery period of October 1, 2024, through October 31, 2024. These values may be viewed in the attachment and on RMA’s Price Discovery portal, located here: prodwebnlb.rma.usda.gov/apps/PriceDiscovery.

These values will also be available at the following locations on RMA’s website by November 5, 2024:

For the Common Crop Insurance Policy and Area Risk Protection Insurance, the Risk Management Agency (RMA) approved 2024 CY harvest prices for insurance offers with a harvest price discovery period of September 1, 2024, through September 30, 2024. These values may be viewed in the attachment and on RMA’s Price Discovery portal, located here:  prodwebnlb.rma.usda.gov/apps/PriceDiscovery.

These values will also be available at the following locations on RMA’s website by October 3, 2024:

As of September 17, 2024 the following information is now available on the FTP site:

• 2025 Actuarial Data Master for the 6/30 Filing Date, YTD, and Daily Files.

Users can find this information in the following directories:

• 2025 Actuarial Data Master are in the References/Actuarial_Data_Master/2025 directory.

Additional notes and details regarding this data release:

Background

The Risk Management Agency (RMA) is revising the Margin Protection (MP) Provisions to clarify how first, and second crop rules apply to MP. Terminology in the Provisions are also being updated to be consistent with other area plans.

Action

The following documents will be available by close of business today on the Risk Management Agency (RMA) website at www.rma.usda.gov.