CWB’s 2010-11 initials raised, barley Pool B to open

Initial payments for Prairie wheat, durum and barley in the Canadian Wheat Board’s 2010-11 will see another raise, effective Jan. 31.

The initials for 2010-11 spring wheat will rise by $22.20 to $37.65 per tonne, depending on grade and class, the CWB said Tuesday.

No. 1 CW red spring (CWRS), 13.4 per cent protein, will be up $37.65 per tonne at $238.25 ($6.48 per bushel) and No. 1 Canada Prairie spring red (CPSR) up $22.20 at $184.20 per tonne ($5.01/bu.).

Initials for durum will rise by between $25.50 and $43.60 per tonne, with No. 5 CW amber durum (CWAD) up $43.60 at $166 ($4.52/bu.) and No. 2 CWAD, 11.0 per cent protein, up $25.50 at $197.25 per tonne ($5.37/bu.).

Initials for Pool A feed barley will rise $54 per tonne, to $202 ($4.40/bu.) for No. 1 CW and $197 for No. 2 CW.

Designated (malting) barley initials will rise $37.50 per tonne, putting Select CW two-row at $225.50 ($4.91/bu.) and Select CW six-row at $207.50 ($4.52/bu.).

Initial payments represent a portion of the returns Prairie growers can expect from the sale of their board grains over the entire year, and are not to be confused with pool return outlooks (PROs), which are estimated values for farmers’ total returns from each pool account.

Where it’s warranted, the CWB can recommend adjustments to the initial payments, which must then be approved the the federal government, the guarantor of those payments.

A previous round of increased initials and adjustment payments for the 2010-11 crop year was issued in mid-December.

Farmers who delivered board grains between Aug. 1, 2010 and Jan. 30, 2011 will be eligible for these adjustment payments, by direct deposit or cheque where preferred.

Eligible growers who want to defer this round of adjustment payments for business reasons have until Feb. 4 to contact the CWB. Otherwise, direct deposits will be made Feb. 8 and cheques will go to Canada Post for mailing by Feb. 11, the board said Tuesday.

Pool B

The board on Tuesday also announced the initial payments for a new Pool B for 2010-11 feed barley.

The new pool, which is to cover deliveries between Feb. 1 and July 31, opens effective Feb. 1 at $130 per tonne for No. 1 Canada Western (CW) and $125 for No. 2 CW.

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