CWB dials up 2010-11 initial payments for wheat

Prairie wheat growers can expect to see adjustment payments in the next few weeks ranging from $21.30 to $42 per tonne from a new round of increased initial payments for the 2010-11 crop year.

The Canadian Wheat Board on Monday announced it has picked up federal approval for increased initial payments effective Thursday (June 30).

Adjustment payments will go out to farmers who delivered wheat to the CWB between Aug. 1, 2010 and June 29, 2011, with direct deposits to be made July 12. Cheques will be delivered for mailing to Canada Post by July 15, the CWB said.

Farmers who want to defer these payments have until July 8 to let the CWB know by calling 1-800-275-4292.

The low end of the adjustment payment range, $21.30 per tonne, will be mostly for general purpose or feed grades of wheat. Higher-protein wheats, such as Nos. 1 and 2 Canada Western red spring (CWRS) at 15.5 per cent protein, will yield adjustment payments of $42 per tonne.

Among examples of other wheat grades and classes, No. 1 CWRS (11.0 per cent protein) will bring an adjustment payment of $27.20 per tonne; No. 4 CWRS, $27.50; No. 1 CW hard white spring (13.0), $28.20; No. 1 Canada Prairie spring red, $32.80; No. 1 CP spring white, $31.80; No. 1 CW extra strong, $34.95; No. 1 CW red winter, $27.50; and No. 1 CW soft white spring, $27.90.

Barley final

The CWB also announced Monday it will send farmers a final payment of $36.39 per tonne for feed barley delivered to Pool A (Aug. 1, 2010 to Jan. 31, 2011) during the 2010-11 crop year.

Direct deposits of those final payments will be made July 4, while cheques will be delivered for mailing to Canada Post by July 7.

With the initial payment and previous adjustment payments added in, the total payments for Pool A feed barley (in store Vancouver or St. Lawrence) will be $238.39 per tonne ($5.19 per bushel) for No. 1 CW and $233.39 ($5.08/bu.) for No. 2 CW.

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