Harvest prices announced for 2009 small grain revenue products
Farm and Ranch September 7, 2009 USDA’s Risk Management Agency has announced harvest prices for 2009 crop year, Crop Revenue Coverage wheat; Income Protection wheat and barley for Idaho, Oregon and Washington; and Revenue Assurance spring and winter wheat for Idaho, as well as feed barley for the three Pacific Northwest States. Jo Lynne Seufer of the regional office of the RMA details the harvest prices. Seufer: “Crop Revenue Coverage for wheat was $4.89 as well as Income Protection for wheat was $4.89. Our barley for Income Protection was $2.78 and feed barley was $2.66. Now Revenue Assurance is available only in Idaho and the spring wheat price came out at $5.57 and winter wheat came out to $4.97.” Seufer says the harvest price is multiplied by the appraised or harvested production to determine the calculated revenue. That calculated revenue is then subtracted from the final revenue guarantee to determine possible insurance losses. Producers are urged to contact their insurance agent to learn details related to the price announcements. Later this month RMA will announce the price guarantees for 2010 small grain crops. The sales closing date for 2010 crop wheat, both winter and spring is September 30th. I’m Bob Hoff and that’s the Northwest Farm and Ranch Report on the Northwest Ag Information Network. ? ?
