Newsroom
2006
CWB Announces 2006-07 Initial Payments By Grade
July 31, 2006
Winnipeg - The Canadian Wheat Board (CWB) today announced the 2006-07 initial payments for the various grades of wheat and barley. The payments are effective August 1, 2006 for deliveries into the 2006-07 pool accounts.
The initial payments, in dollars per tonne, for base grades in each pool account are listed below. Also listed in the below is the anticipated final pool return for farmers, based on the CWB's July 27, 2006 Pool Return Outlook. A complete listing of payments for all grades in dollars per tonne and dollars per bushel is posted on the CWB Web site (under "Farmer contracts and payments", "Farmer payments", "2006-07") at www.cwb.ca.
|
Grade |
2006-07 |
2005-06 |
|||
|
Initial |
PRO |
Initial |
PRO |
||
|
Wheat |
No. 1 Canada Western Red Spring 12.5 |
$137.50 |
$208 |
$127 |
$189 |
|
Durum |
No. 1 Canada Western Amber Durum 12.5 |
$118 |
$192 |
$130 |
$190 |
|
Feed Barley |
No. 1 Canada Western |
$74 Pool A |
$124 Pool A |
$72 Pool B |
$127 Pool B |
|
Designated Barley |
Special Select Canada Western Two-Row |
$117 |
$174 |
$119 |
$171 |
|
Special Select Canada Western Six-Row |
$111 |
$168 |
$107 |
$163 |
|
Initial payments represent the first 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 Pool Return Outlook (PRO), which can be viewed at PRO update sheet
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, on top of the initial, within 10 business days of delivery. EPOs are available at values equal to 80, 90 and 100 per cent of the PRO.
Controlled by western Canadian farmers, the CWB is the largest wheat and barley marketer in the world. As one of Canada's biggest exporters, the Winnipeg-based organization sells grain to more than 70 countries and returns all sales revenue, less marketing costs, to Prairie farmers.
For more information, please contact:
Maureen Fitzhenry
CWB Media Relations Manager
tel: (204) 983-3101
cell: (204) 479-2451