8-15 IAN Wheat Timetables

 USDA Announces Changes in Price Discovery for Fall and Spring Wheat and Reminds Pacific Northwest Producers of Fall Crop Sales Closing Dates. USDA’s Risk Management Agency (RMA) announced the availability of a separate revenue price for fall and spring wheat for the 2014 Multi-Peril Crop Insurance (MPCI) crop year. RMA would also like to remind producers in the Pacific Northwest of sales closing dates in September for fall crops. RMA worked closely with Tri-State Wheat Grower groups to move the price discovery period for spring wheat from the spring to the fall.  “Producers in Idaho, Oregon, and Washington will now have both the spring and winter wheat projected prices available before the wheat sales closing date,” said RMA Spokane Regional Office Director Dave Paul. 

·         The spring wheat type now uses the Minneapolis Grain Exchange (MGE), referencing the September futures contract with its projected price discovery period from August 15 to September 14 of the calendar year before harvest, and the harvest price derived from August 1 to August 31 of the calendar year of harvest.

·         Price determination for the winter wheat type remains unchanged, referencing the September Chicago futures contract with a Portland white wheat basis adjustment for a projected price and using the August 1 to August 31 Portland Merchants Exchange bid prices for determining the average harvest price.  

Both the spring and fall wheat prices will be announced no later than September 15.  Idaho, Oregon, and Washington producers need to be aware of the important 2014 crop year sales closing deadlines for:  

·         Canola/Rapeseed – September 3 (for fall planted types)

·         Onions – September 3 (fall planted types - Umatilla/Walla Walla counties only)

·         Mint with Winter Coverage – September 30

·         Forage Production – September 30 (Klamath and Malheur counties, Oregon)

·         Forage (Alfalfa) Seed Pilot – September 30

·         Fall Planted Barley with Winter Coverage – September 30 (in selected counties)

·         Fall Planted Dry Peas/Lentils with Winter Coverage – September  30 (in selected counties)

·         Wheat – September 30

RMA also reminds producers of the importance of buying crop insurance to help lower risk if the crop is lost due to a natural weather related disaster condition.  For non-insurable crops, a producer may buy catastrophic coverage through the Noninsured Crop Disaster Assistance Program (NAP) from the Farm Service Agency (FSA) by the sales closing date.  Producers should contact their local FSA county office for more information about timetables.  Current policyholders and uninsured growers must make all of their decisions on crop insurance coverage, especially which crops to insure and what level and type of coverage to get before the sales closing date.