Categorization, Price, and Yield Endorsment for Specialty-Use Barley & Soybeans
AgriLogic was awarded a contract to conduct a feaibility study associated with developing a policy endorsment to insure specialty-use barley and soybeans.
AgriLogic provided a research report that:
- Identified, located, and defined categories of specialty-use barley and soybeans.
- Presented U.S. and state-level historical planted and harvested acres and production for each specialty category identified.
- Identified and presented season average farm-level price and aggregate yield data for each specialty category identified.
- Compared historical farm-level prices for each specialty category to historical RMA prices used in APH and revenue plans of insurance for that commodity.
- Presented, discussed, and defended the price differential that merits development of a separate price election.
- Presented, discussed, and defended the yield differential that merits establishment of a separate APH database.
- Discussed the marketing of specialty-use barley and soybean varieties.
- Determined if open market sales of specialty-use barley and soybeans exist and if a price is published or available for these open market sales.
- Evaluated the feasibility of deriving price factors for specialty-use barley and soybean categories, that represent predictable relationships from year to year, to apply to prices used in APH and revenue plans of insurance.
- Recommended specialty-use barley and soybean categories, if any that were sound candidates for RMA to offer price endorsements.
A wrtten feasibility report was submitted to RMA, and RMA is currently developing this endorsment.
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