The “projected price” discovery period for spring planted crops runs from January 15 to February 14, 2013.
An average of daily settlement prices from the Chicago Mercantile Exchange (CME) and Intercontinental Exchange (ICE) are used to derive the “projected price” for the various crop insurance products.
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.
The link below provides futures price information that will be used for determining the “projected price” for crop insurance products such as Yield Protection (YP), Revenue Protection (RP), Revenue Protection with Harvest Price Exclusion (RPHPE), and Group Risk Income Protection (GRIP). Refer to this page during the price discovery period for updates to the corn, cotton, rice and soybean “projected prices”.
The Arkansas sales closing date for spring planted crops is February 28, 2013.