The crop insurance Sales Closing Date for spring planted crops in Arkansas is February 28, 2019.
The USDA-Risk Management Agency (RMA) recently announced the 2019 crop year projected prices for Yield Protection, Area Yield Protection, Revenue Protection, Area Revenue Protection, Revenue Protection with Harvest Price Exclusion, and Area Revenue Protection with the Harvest Price Exclusion plans of insurance.
The “projected price” discovery period for spring planted crops runs from January 15 to February 14.
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.
2019 Projected Prices for Arkansas are:
Grain Sorghum: $3.95/bu.
Long-Grain Rice: .1080/lb
Medium-Grain Rice: .1140/lb
Peanuts, Runner type: .2084/lb