United States Department of Agriculture Farm Production and Conservation Risk Management Agency March, 208 INFORMATIONAL MEMORANDUM: PM-8-04 TO: All Approved Insurance Providers All Risk Management Agency Field Offices All Other Interested Parties Beacon Facility Mail Stop 080 P.O. Box 49205 Kansas City, MO 644-6205 FROM: SUBJECT: Richard H. Flournoy /s/richard H. Flournoy Deputy Administrator 208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed The 208 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 Exclusion, and Area Revenue Protection with the Harvest Exclusion. The 208 CY volatility factors shown below are approved for the following plans of insurance: Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Exclusion, and Area Revenue Protection with the Harvest Exclusion. The projected prices and volatility factors apply to policies with a March 5 sales closing date, unless otherwise indicated, and are applicable for the crops, practices, types, and states indicated below: July Kansas (Spring type) $3.23/bushel 0.0 Organic Practice July Kansas (Spring type) $6.90/bushel 0.0 and s are applicable for the Supplemental Coverage Option (SCO). USDA is an Equal Opportunity Employer and Provider
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed...Continued Iowa, Nebraska, New York (Spring type) & Pennsylvania (Spring type) Organic Practice Iowa, Nebraska, New York (Spring type) & Pennsylvania (Spring type) California (Spring types), Colorado (Spring types), Idaho (Spring types), Maine, Michigan, Minnesota, Montana, Nevada, North Dakota, Oregon (Spring types), South Dakota, Utah, Vermont, Washington (Spring types), Wisconsin & Wyoming Organic Practice California (Spring types), Colorado (Spring types), Idaho (Spring types), Maine, Michigan, Minnesota, Montana, Nevada, North Dakota, Oregon (Spring types), South Dakota, Utah, Vermont, Washington (Spring types), Wisconsin & Wyoming 2 $3.28/bushel 0.2 $7.00/bushel 0.2 $3.28/bushel 0.4 $7.00/bushel 0.4 Alaska $5.08/bushel 0.4 Organic Practice Alaska $0.84/bushel 0.4 and s are applicable for the Supplemental Coverage Option (SCO).
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed...Continued (March 5 Sales Closing Date, Winter Types without Winter Coverage Endorsement) California, Idaho, Oregon (previously released 9/5/207) Organic Practice (March 5 Sales Closing Date, Winter Types without Winter Coverage Endorsement) California, Idaho, Oregon (previously released 9/5/207) ( 30 Sales Closing Date, Spring Type) Kansas Organic Practice ( 30 Sales Closing Date, Spring Type) Kansas ( 30 Sales Closing Date, New York & Pennsylvania Organic Practice ( 30 Sales Closing Date, New York & Pennsylvania July July 3 $3.29/bushel 0.8 $7.02/bushel 0.8 $3.23/bushel 0.0 $6.90/bushel 0.0 $3.28/bushel 0.2 $7.00/bushel 0.2 and s are applicable for the Supplemental Coverage Option (SCO).
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed ( 30 Sales Closing Date, California, Colorado, Idaho, Oregon Organic Practice ( 30 Sales Closing Date, California, Colorado, Idaho, Oregon (October 3 Sales Closing Date, Nevada & Utah Organic Practice (October 3 Sales Closing Date, Nevada & Utah All States - Rapeseed Type All States (August 3 Sales Closing Date, Spring Type(s)) Idaho, Oregon - Rapeseed Type (August 3 Sales Closing Date, Spring Type(s)) Idaho, Oregon 4 $3.28/bushel 0.4 $7.00/bushel 0.4 $3.28/bushel 0.4 $7.00/bushel 0.4 $0.84/pound 0.08 $0.264/pound 0.00 $0.84/pound 0.08 $0.264/pound 0.00 and s are applicable for the Supplemental Coverage Option (SCO).
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed Oklahoma & Texas - Organic Practice Oklahoma & Texas Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, South Dakota, Tennessee, Utah, Vermont, Virginia, West Virginia, Wisconsin & Wyoming - Organic Practice Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, South Dakota, Tennessee, Utah, Vermont, Virginia, West Virginia, Wisconsin & Wyoming Idaho, Michigan, Oregon 5 $3.96/bushel 0.4 $9.07/bushel 0.4 $3.96/bushel 0.5 $9.07/bushel 0.5 $3.96/bushel 0.6 and s are applicable for the Supplemental Coverage Option (SCO).
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed - Organic Practice Idaho, Michigan, Oregon High Amylose Type Illinois, Indiana, Iowa, Kansas, Missouri, Nebraska & South Dakota Missouri, Tennessee, Texas & Virginia - Organic Practice Missouri, Tennessee, Texas & Virginia Kansas, New Mexico & Oklahoma - Organic Practice Kansas, New Mexico & Oklahoma Grain Sorghum Texas Grain Sorghum Organic Practice Texas Grain Sorghum All States, except Texas Grain Sorghum Organic Practice All States, except Texas Peanuts - Runner Type New Mexico, Oklahoma, Texas & Virginia / Wheat,, Soybean Oil & Soybean Meal 6 $9.07/bushel 0.6 $5.54/bushel 0.5 $0.76/pound 0.4 $.6/pound 0.4 $0.76/pound 0.5 $.6/pound 0.5 $3.83/bushel 0.4 $8.26/bushel 0.4 $3.83/bushel 0.5 $8.26/bushel 0.5 $0.2035/pound 0.3 and s are applicable for the Supplemental Coverage Option (SCO) and Stacked Income Protection (STAX - cotton only).
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed Peanuts - Spanish Type New Mexico, Oklahoma & Texas Wheat,, / Soybean Oil & Peanuts - Valencia Type New Mexico, Oklahoma & Texas Peanuts - Virginia Type New Mexico, Oklahoma, Texas & Virginia Popcorn Alabama (previously released: 2/5/208) Popcorn - Organic Practice Alabama (previously released: 2/5/208) Popcorn All States, except Alabama & Michigan Popcorn - Organic Practice All States, except Alabama & Michigan Popcorn Michigan Popcorn - Organic Practice Michigan / / Soybean Meal Wheat,, Soybean Oil & Soybean Meal Wheat,, Soybean Oil & Soybean Meal 7 $0.2666/pound 0.3 $0.2259/pound 0.3 $0.2259/pound 0.3 $0.643/pound 0.4 $0.2365/pound 0.4 $0.703/pound 0.5 $0.245/pound 0.5 $0.703/pound 0.6 $0.245/pound 0.6 and s are applicable for the Supplemental Coverage Option (SCO).
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, New Jersey, New York, North Dakota, Ohio, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Vermont, Washington & Wisconsin - Organic Practice Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, New Jersey, New York, North Dakota, Ohio, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Vermont, Washington & Wisconsin Delaware, Maryland, Oklahoma, Virginia & West Virginia - Organic Practice Delaware, Maryland, Oklahoma, Virginia & West Virginia Sunflowers - Oil Type All States Sunflowers - Oil Type; Organic Practice All States January (209) January (209) Soybean Oil Soybean Oil 8 $0.6/bushel 0.4 $20.49/bushel 0.4 $0.2/bushel 0.3 $20.59/bushel 0.3 $0.75/pound 0.2 $0.33/pound 0.2 Sunflowers - Confectionary Type $0.237/pound 0.2 All States Soybean Oil and s are applicable for the Supplemental Coverage Option (SCO).
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed Wheat - All Types Except Durum Alaska, California, Colorado, Iowa, Maine, Minnesota, Montana, Nebraska, North Dakota, Oregon (Klamath County only), South Dakota, Vermont, Wisconsin & Wyoming Wheat - All Types Except Durum; Organic Practice Alaska, California, Colorado, Iowa, Maine, Minnesota, Montana, Nebraska, North Dakota, Oregon (Klamath County only), South Dakota, Vermont, Wisconsin & Wyoming Wheat - Durum Type Montana, North Dakota & South Dakota Wheat - Durum Type; Organic Practice Montana, North Dakota & South Dakota Wheat ( 30 Sales Closing Date, Spring Type) California, Colorado, Iowa, Montana (including Khorasan), Nebraska, Oregon (Klamath County only), South Dakota, Wisconsin & Wyoming Wheat Organic Practice ( 30 Sales Closing Date, Spring Type) California, Colorado, Iowa, Montana (including Khorasan), Nebraska, Oregon (Klamath County only), South Dakota, Wisconsin & Wyoming 9 $6.3/bushel 0.3 $3.65/bushel 0.3 $7./bushel 0.3 $5.39/bushel 0.3 $6.3/bushel 0.3 $3.65/bushel 0.3 and s are applicable for the Supplemental Coverage Option (SCO).
208 Crop Year (CY) Common Crop Insurance Policy and Area Risk Protection Insurance and s; Malting Endorsement Component and ; and Hybrid Seed Endorsement - Hybrid Seed Malting Endorsement The Malting Endorsement (MBE) utilizes a Chicago Board of Trade () soft red wheat price component to derive the projected price for any insured whose malt barley contract provides for a premium amount above or below a base price to be determined, and the base price is not determined by the acreage reporting date. Please see the MBE for details: www.rma.usda.gov/policies/208/8-009b.pdf 0 Malting Type Exchange Contract Spring Planted Type SRW Wheat $4.98/bushel 0.5 Hybrid Seed Endorsement The following 208 CY hybrid seed corn prices have been approved for the Hybrid Seed Endorsement: $3.96 per bushel for the non-organic practice; and $9.07 per bushel for the certified organic practice. These amounts reflect the higher values of either: ) the previously-released 208 crop year MPCI hybrid seed corn price elections [non-organic practice: $3.95 per bushel; certified organic practice: $8.97 per bushel]; or 2) the futures-based prices derived from the average daily settlement price in February for the 208 corn contract [non-organic practice: $3.96 per bushel], multiplied by an organic corn price factor [certified organic practice: $9.07 per bushel]. DISPOSAL DATE 3, 208