RMA announces insurance rates

USDA’s Risk Management Agency harvest price for 2010 crop insurance coverage is $6.29, the agency announced earlier this month.

For barley under the Income Protection plan, the price was set at $3.30 per bushel. Under the Revenue Assurance Plan, feed barley was set at $3.36 per bushel.

The price is an important number because it is used to calculate revenue for farmers enrolled in Crop Revenue Coverage, Income Protection or a Revenue Assurance Plan.

The harvest price is multiplied by the appraised or harvest production to determine the calculated revenue. The calculated revenue is then subtrac...