Newsroom
2007
Initial payments for 2007-08 crop year increased
November 16, 2007
Winnipeg - The CWB today announced that 2007-08 initial payments for wheat, durum, feed and designated barley will increase effective November 22, 2007. The increase for wheat will range from $41.30 to $61.70 per tonne, depending on grade, class and protein level. For milling durum, the increase will range from $115.15 to $131.25 per tonne. For feed barley in Pool A, the increase will be $100 per tonne, while the increase for designated barley will range from $52.50 to $61.50.
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. A complete listing of payments for all grades in dollars per tonne and dollars per bushel is posted on www.cwb.ca under "Famers" and "Farmer Payments".
Grade |
Initial |
Adjustment |
Total payment |
2007-08 PRO |
No. 1 Canada Western Red Spring Wheat 12.5 |
$176.00 |
$54.50 |
$230.50 |
$292 |
No. 1 Canada Western Amber Durum 12.5 |
$187.50 |
$127.00 |
$314.50 |
$467 |
No. 1 CW Barley (Pool A) |
$130.50 |
$100.00 |
$230.50 |
$254 |
SS CW 2 Row Designated Barley |
$198.50 |
$61.50 |
$260.00 |
$290 |
SS CW 6 Row Designated Barley |
$173.50 |
$57.50 |
$231.00 |
$261 |
Farmers who delivered wheat, durum, barley and designated barley to the CWB between August 1, 2007 and November 21, 2007 will receive an adjustment payment. The payments will be mailed by December 7, 2007 or received by direct deposit on December 4, 2007. Farmers who wish to defer payments have until November 28, 2007 to notify the CWB by calling 1-800-275-4292.
Initial payments should not be confused with monthly Pool Return Outlooks, which are CWB estimates of farmers’ total returns from each pool account. Rather, initial payments represent a portion of the returns farmers can expect from the sale of their grain over the entire year.
During the crop year, the CWB regularly reviews the initial payments and recommends adjustment payments if market conditions and sales progress warrant. The Government of Canada guarantees initial payments and therefore approves the level at which they are set.
Upon delivery, farmers may alternatively choose the CWB’s Early Payment Option (EPO) as a payment method. As with the other CWB Producer Payment Options, the EPO can be used as a cash-flow tool. It currently allows farmers to receive an additional payment equal to 90 or 100 per cent of the PRO, less a discount, within 10 business days. Producers remain eligible for additional payments if pooled returns exceed the early payment value.
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.
-30-
For more information:
Maureen Fitzhenry,
CWB media relations manager
(204) 983-3101
Cell: (204) 227-6927
maureen_fitzhenry@cwb.ca