INFORMATIONAL MEMORANDUM: R&D-96-076   
     
     TO:      All Reinsured Companies
              All Risk Management Field Offices
              FSA Headquarters, Program Delivery and Field Operations
     
     FROM:    Tim B. Witt /s/ Tim B. Witt  12/2/96
              Acting Deputy Administrator
         
     SUBJECT: 1996 Crop Revenue Coverage and Income Protection Price
              Announcements
     
     
     The 1996 Harvest Market Price for Crop Revenue Coverage (CRC) Corn is
     $2.55 per bushel. This harvest market price is defined in the CRC Corn
     Crop Provisions to be "ninety-five percent (95%) of the November Average
     Daily Settlement Price for corn to be delivered during the month of
     December of the then current crop year."
     
     The 1996 Harvest Price for Income Protection (IP) Corn is $2.68 per
     bushel.  This harvest price is defined in the IP Corn Crop Provisions to
     be ". . . the average derived by totaling the final closing daily
     settlement prices for the current year Chicago Board of Trade (CBOT)
     December corn futures contract for each trading day of November of the
     current year, and dividing that total by the number of daily settlement
     prices."
     
     The 1996 Harvest Price for (IP) Cotton is $0.72 per pound.  This harvest
     price is defined in the IP Cotton Crop Provisions to be ". . . the
     average derived by totaling the final closing daily settlement prices
     for the current year New York Cotton Exchange December cotton futures
     contract for each trading day of November of the current year, and
     dividing that total by the number of daily settlement prices."