CWB, formerly the Canadian Wheat Board, has announced 2012-13 initial payments for farmers who contract wheat, durum and malting barley to its Early Delivery Pool and Harvest Pool.
In a statement, CWB said the Government of Canada continues to guarantee most of the initial payments and approves the basic levels at which they are set. New this year, CWB is taking on additional risk to provide farmers with a higher up-front payment.
It said initial payments are equal to about 75 per cent of anticipated final Harvest Pool returns projected when the payment calculations were prepared. However, CWB said since then markets continued to strengthen. "As CWB locks in these higher values, the initial payments will increase further," it said.
CWB will issue its first new-crop Pool Return Outlooks (PRO) in the near future.
Initial payments for base grades are below. A full list is available on the CWB website.
Initial payments for Early Delivery Pool and Harvest Pool (per tonne)
No. 1 Canada Western Red Spring 12.5 — $255
No. 1 Canada Western Amber Durum 12.5 —$257
Designated barley Select Canada Western Two-Row — $230