With the 2016 season well underway, the 2015 Risk Management Program (RMP) is just now wrapping up. Final livestock payments went out in March and, now that post-harvest market prices are available, final payments for RMP: Grains and Oilseeds are going out at the end of May. These final payments may also include adjustments to earlier 2015 payments. Customers receive a Payment Summary showing the payment details for the program year.
Producers who triggered RMP payments at any time during the program year may also be eligible for additional payments in June from the industry-managed Farmer's Risk Management Premium Fund.
Customers who have enrolled for direct deposit will receive their payments directly into their bank account. To receive future payments by direct deposit, sign up at agricorp.com/directdeposit.
Post-harvest market prices
Post-harvest payments are going to customers whose crops had market prices fall below the support level at their chosen coverage level, as indicated in the following table.
|Crop ||Coverage level |
|Black beans|| || ||✔|
|Corn|| || ||✔|
|Popping corn|| ||✔||✔|
|Soybeans|| || ||✔|
|Spring grain|| ||✔||✔|
|Spring wheat|| ||✔||✔|
|White beans|| || ||✔|
Market prices and support levels for all RMP crops are published in the RMP: Grains and Oilseeds section of agricorp.com.
RMP helps farmers deal with declining market prices and rising costs, two big risks that every farmer could face. Payments are triggered when market prices are lower than production costs for an insured commodity.