The “projected price” discovery period for winter wheat Revenue and Yield Protection products runs from August 15 to September 14, 2012.
An average of daily settlement prices from the CME July 2013 wheat futures contract is used to derive the “projected price”.
The final average price for the discovery period will be used in combination with other variables such as yield and coverage level to establish a revenue guarantee. The “projected price” will also play a role in determining the premium, and any replant or prevented planting payment.
As of August 29, the July 2013 wheat futures contract averaged $8.48/bu. during the price discovery period.
The Arkansas sales closing date for winter wheat is September 30, 2012. The final planting date is November 30, 2012.