|
Winnipeg,
Manitoba, Canada
December 15, 2006
The CWB today announced
that 2006-07 initial payments for wheat, durum, feed and
designated barley will increase effective December 21,
2006.
The
increase in initial payments for wheat will range from
zero to $29 per tonne, depending upon the grade and
class. In the case of durum, the increase will range
from $1 to $27 per tonne. For feed barley in Pool A, the
increase will be $60.50 per tonne, while the increase
for designated barley will be $27 for two-row and $20
for six-row varieties.
The
adjustment payments, in dollars per tonne, for
representative grades in each pool account are listed
below. The total initial payment to date is basis
in-store Vancouver or St. Lawrence and must be adjusted
for freight/elevation charges to arrive at farm gate
prices.
|
Grade |
Initial
Payment |
Adjustment
Payment |
Total payment
to date |
2006-07 Pool Return Outlook |
|
No. 1 Canada Western Red Spring Wheat 12.5 |
$149.00 |
$15 |
$164.00 |
$214.00 |
|
No. 1 Canada Western Amber Durum 12.5 |
$140.00 |
$17.00 |
$157.00 |
$208.00 |
|
No. 1 CW Barley (Pool A) |
$79.50 |
$60.50 |
$145.00 |
$177.00 |
|
SS
CW 2 Row Designated Barley |
$147.00 |
$27.00 |
$174.00 |
$203.00 |
|
SS
CW 6 Row Designated Barley |
$141.00 |
$20.00 |
$161.00 |
$198.00 |
A complete
listing of payments for all grades in dollars per tonne
and dollars per bushel is posted on the CWB’s Web site
(under the Farmer Contracts and Payments link) at
www.cwb.ca.
Farmers
who delivered wheat, durum, barley and designated barley
to the CWB between Aug. 1, 2006 and Dec. 20, 2006 will
receive an adjustment payment. The payments will be
mailed by Jan. 12, 2007 or received by direct deposit on
Jan. 9, 2007. Farmers who wish to defer payments have
until Jan. 3, 2007 to notify the CWB by calling
1-800-275-4292.
Initial
payments should not be confused with monthly Pool Return
Outlooks (PROs) which are CWB estimates of farmers’
total returns from each of the pool accounts. Rather,
intial payments represent a portion of the returns
farmers can expect from the sale of their grain over the
entire pool year. The Government of Canada guarantees
initial payments and therefore approves the level at
which they are set.
During the
crop year, the CWB regularly reviews the initial
payments and recommends adjustment payments if market
conditions and sales progress warrant. The entire
payment that farmers can expect for their grain is
reflected by the CWB’s monthly PROs, which can be viewed
at
www.cwb.ca under the “Farmers” tab.
Upon
delivery, farmers may alternatively choose the CWB’s
Early Payment Option (EPO) as a payment method. The EPO,
as with the other CWB Producer Payment Options, can be
used as a cash-flow tool. It provides similar returns to
the CWB pool accounts, less a discount. The EPO allows
farmers to receive an additional payment equal to 80, 90
and 100 per cent of the PRO, within 10 business days.
Controlled by western Canadian farmers, the CWB is the
largest wheat and barley marketer in the world. One of
Canada’s biggest exporters, the Winnipeg-based
organization sells grain to over 70 countries and
returns all sales revenue, less marketing costs, to
farmers.
The
Canadian Wheat Board (CWB) will issue combined interim
and final payments to farmers for the wheat, durum
wheat, feed and designated barley they delivered to the
CWB during the 2005-06 crop year. These payments
represent the balance of the money owing to farmers
after their grain has been marketed through the CWB, and
after operating costs have been deducted.
The final
payments were approved by the federal government on Dec.
14. Interim payment levels were announced by the CWB on
Nov. 24. Direct deposits that combine the interim and
final payments will be credited to farmers’ accounts on
Dec. 18 or 19. Cheques representing the interm and final
payments will be mailed today, dated Dec.18.
Final and
interim payments, in dollars per tonne, for the base
grades in each pool account are listed below. The total
payment is based on the value of grain in store at
Vancouver or the St. Lawrence.
|
Grade |
Initial
Payment |
Interim
Payment |
Final
Payment |
Total
Payment |
|
No. 1 Canada Western Red Spring Wheat 12.5 |
$172.50 |
$8.00 |
$5.80 |
$186.30 |
|
No. 1 Canada Western Amber Durum Wheat 12.5 |
$176.00 |
$10.00 |
$2.53 |
$188.53 |
|
No. 1 Canada Western Barley (Pool B) |
$72.00 |
$46.00 |
$13.76 |
$131.76 |
|
SS
CW 2-Row Barley |
$162.00 |
$5.00 |
$1.45 |
$168.45 |
A complete
listing of payments for all grades in dollars per tonne
and dollars per bushel is posted on the CWB’s Web site
(under Farmer Payments in the Farmer section ) at
www.cwb.ca .
Controlled by western Canadian farmers, the CWB is the
largest wheat and barley marketer in the world. One of
Canada’s biggest exporters, the Winnipeg-based
organization sells grain to over 70 countries and
returns all sales revenue, less marketing costs, to
Prairie farmers. |
