Effective for the 2023 and succeeding crop years, the Grass Seed Crop Provisions have been revised to clarify how producers can use prices from their production contracts for crop insurance purposes. Specifically, if producers have multiple contracts with different prices, the clarification outlines how to calculate a weighted average price. RMA also increased the maximum contract price factor from 1.20 to 1.60 and moved the factor to the actuarial documents to allow for easier updates in the future.
Please access the following hyperlink to review Product Management Bulletin PM-29-039 in full.
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