USDA releases 2015 crop insurance price data

The U.S. Department of Agriculture's Risk Management Agency (RMA) recently released its 2015 crop price data to help farmers in Alaska and the Pacific Northwest make purchasing decisions about crop insurance. 

In addition to releasing the Projected Prices and Volatility Factors for 2015, the RMA released malting barley additional value prices and additional price elections for select commodities.

The anticipated price or price election is used to determine the value of federal crop insurance protection. This price is multiplied by the producer’s actual production history and is then multiplied by the coverage level that the producer chooses. This can be 50 to 75 percent, or up to 85 percent for some commodities. Price and other election choices must be made by the sales closing date for the crop in a county.

Private crop insurance companies sell policies for federal crop insurance. A list of the companies, along with specific details for the 2015 crop year, can be viewed at all USDA service centers and on the RMA agent locator website.