Risk Management Program
Grains and oilseeds

Rates

2022

2022 Premium Rates
CommodityUnitCoverage Level
80%90%95%100%
Barley($/lb)0.00160.00260.00310.0036
Black beans($/lb)-0.00010.00020.0006
Canola($/lb)0.00090.00260.00360.0047
Corn including organic and seed corn($/bu)0.00210.01360.02430.0395
Cranberry beans($/lb)---0.0001
Hard red winter wheat and hard white winter wheat($/bu)0.00300.01440.02800.0442
Japan, adzuki and other beans($/lb)---0.0001
Kidney beans ($/lb)---0.0001
Oats($/lb)0.00160.00260.00310.0036
Popping corn ($/lb)0.00020.00060.00110.0017
Soft red winter wheat  and organic winter wheat($/bu)0.00300.01440.02800.0442
Soft white winter wheat ($/bu)0.00300.01440.02800.0442
Soybeans (includes organic, tofu and natto varieties)($/bu)0.00010.01500.03230.0641
Spring grain ($/lb)0.00160.00260.00310.0036
Spring wheat($/bu)0.00390.03700.06030.0870
White beans($/lb)-0.00010.00020.0006

When premium rates work out to the same price for different coverage levels, we offer only the higher coverage levels so you get the best coverage for the same price. If the coverage level you had last year is not offered this year, you will be renewed at the next level. See the table for available coverage levels and rates for 2022.

2022 Support Levels
CommodityUnitCoverage Level
80%90%95%
100%
Barley($/lb)0.11780.13260.13990.1473
Black beans($/lb)-0.45580.48110.5064
Canola($/lb)0.30510.34330.36230.3814
Corn including organic and seed corn($/bu)5.135.776.096.41
Cranberry beans($/lb)---0.5719
Hard red winter wheat and hard white winter wheat($/bu)7.708.679.159.63
Japan, adzuki and other beans($/lb)---0.5719
Kidney beans ($/lb)---0.5719
Oats($/lb)0.11780.13260.13990.1473
Popping corn ($/lb)0.22880.25740.27170.2860
Soft red winter wheat  and organic winter wheat($/bu)7.548.488.959.42
Soft white winter wheat ($/bu)7.628.579.049.52
Soybeans (includes organic, tofu and natto varieties)($/bu)13.4215.0915.9316.77
Spring grain ($/lb)0.11780.13260.13990.1473
Spring wheat($/bu)8.179.199.7010.21
White beans($/lb)-0.45580.48110.5064

2021

2021 Market prices
CommodityUnitPre-harvest Market Price
Barley($/lb)0.1141
Black beans($/lb)0.4293
Canola($/lb)0.2900
Corn including organic and seed corn($/bu)6.50
Cranberry beans($/lb)0.5764
Hard red winter wheat and hard white winter wheat($/bu)7.81
Japan, adzuki and other beans($/lb)0.4805
Kidney beans ($/lb)0.6146
Oats($/lb)0.1320
Popping corn ($/lb)0.2903
Soft red winter wheat and organic winter wheat($/bu)7.60
Soft white winter wheat ($/bu)7.84
Soybeans (includes organic, tofu and natto varieties)($/bu)16.17
Spring grain ($/lb)0.1186
Spring wheat($/bu)8.38
White beans($/lb)0.4472
2021 Premium rates
Commodity
Unit
Coverage Level
80%
90%
95%
100%
Barley($/lb)0.00160.00260.00310.0036
Black beans($/lb)-
0.0001
0.00020.0006
Canola($/lb)0.00090.00260.00360.0047
Corn including organic and seed corn($/bu)0.00210.01360.02430.0395
Cranberry beans($/lb)-
-
-
0.0001
Hard red winter wheat and hard white winter wheat($/bu)0.00300.01440.02800.0442
Japan, adzuki and other beans($/lb)-
-
-
0.0001
Kidney beans($/lb)-
-
-
0.0001
Oats($/lb)0.00160.00260.00310.0036
Popping corn ($/lb)0.00020.00060.00110.0017
Soft red winter wheat  and organic winter wheat($/bu)0.00300.01440.02800.0442
Soft white winter wheat($/bu)0.00300.01440.02800.0442
Soybeans (includes organic, tofu and natto varieties)($/bu)0.00010.01500.03230.0641
Spring grain ($/lb)0.00160.00260.00310.0036
Spring wheat($/bu)0.00390.03700.06030.0870
White beans($/lb)-
0.00010.00020.0006
2021 Support levels
CommodityCoverage Level
80%
90%
95%100%
Barley0.092
0.10350.10930.115
Black beans-0.35770.37750.3974
Canola0.25260.28420.30000.3158
Corn including organic and seed corn4.224.755.025.28
Cranberry beans---0.4792
Hard red winter wheat and hard white winter wheat6.226.997.387.77
Japan, adzuki and other beans---0.4792
Kidney beans ---0.4792
Oats0.0920.10350.10930.1150
Popping corn 0.18850.21200.22400.2358
Soft red winter wheat  and organic winter wheat6.066.817.197.57
Soft white winter wheat 6.146.907.297.67
Soybeans (includes organic, tofu and natto varieties)10.9412.3012.9913.67
Spring grain 0.09200.10350.10930.1150
Spring wheat6.717.557.978.39
White beans-0.35770.37750.3974

​​​​​Payment periods and p​​​​​rice sour​ces

For eac​​h eligible grain and oilseed crop, two payments are calculated for each crop year:

  • ​ The pre-harvest payment is based on the average of future delivery prices or forward contract ​​​prices for six months prior to harvest.

  • The post-harvest payment is based on the average of cash or spot prices for six months during and after​ harvest.

Commodity Pre-harvest pricing period Post-harvest pricing period Source of forward contract and harvest spot prices ​
Barley 
​February– July ​August– January ​Average of monthly prices for delivery at a cross-section of Ontario elevators available from the Ontario Agri-Business Association
Black beansMarch – AugustSeptember – FebruaryAverage of monthly prices for delivery at a cross-section of Ontario elevators
CanolaJanuary – JuneJuly – DecemberAverage of monthly prices for delivery at a cross-section of Ontario elevators
CornApril – SeptemberOctober – MarchDaily averages for Chatham delivery
Cranberry beansMarch – AugustSeptember – FebruaryAverage of monthly prices for delivery at a cross-section of Ontario elevators
Hard red winter wheatJanuary – JuneJuly – DecemberDaily delivery prices are used to determine a weighted average price from the following locations: Grain Farmers of Ontario Terminal (25% weight) and country elevators (75% weight). 
Hard white winter wheatJanuary – JuneJuly – DecemberDaily delivery prices are used to determine a weighted average price from the following locations: Grain Farmers of Ontario Terminal (25% weight) and country elevators (75% weight). 
Japan, adzuki ​and other ​beans​March – AugustSeptember – FebruaryAverage of monthly prices for delivery at a cross-section of Ontario elevators
Kidney beansMarch – AugustSeptember – FebruaryAverage of monthly prices for delivery at a cross-section of Ontario elevators
​Oats​February  – July​​August– January ​Average of monthly prices for delivery at a cross-section of Ontario elevators available from the Ontario Agri-Business Association​
Organic cornApril – SeptemberOctober – MarchDaily averages for Chatham delivery.
Organic winter wheatJanuary – JuneJuly – DecemberDaily delivery prices are used to determine a weighted average price from the following locations: Grain Farmers of Ontario Terminal (25% weight) and country elevators (75% weight). 
Soft red winter wheatJanuary – JuneJuly – DecemberDaily delivery prices are used to determine a weighted average price from the following locations: Grain Farmers of Ontario Terminal (25% weight) and country elevators (75% weight).
Soft white winter wheatJanuary – JuneJuly – DecemberDaily delivery prices are used to determine a weighted average price from the following locations: Grain Farmers of Ontario Terminal (25% weight)​ and country elevators (75% weight).​
Soybeans (incl. organic, tofu and natto varieties)April – SeptemberOctober –​​ MarchDaily averages for Chatham delivery
Spring grainFebruary – JulyAugust – JanuaryAverage of monthly prices for delivery at a cross-section of Ontario elevators of barley (75% weight) and oats (25% weight)
Spring wheatJanuary – JuneJuly – DecemberDaily averages for Grain Farmers of Ontario Terminal delivery of red spring wheat
White beansMarch – AugustSeptember – FebruaryAverage of monthly prices for delivery at a cross-section of Ontario elevators

Note: There may be days when t​​he price source doesn’t offer bids or forward contracts. These days will be omitted from the actual market prices.

​​The market price for organic winter wheat is based on the value for soft red winter wheat. The market price for hard white winter wheat is based on the value for hard red winter wheat.  The market price for organic corn is based on the value for grain corn. For popping corn the market price is two and a half times the price of grain corn.


Ontario - Agricorp