The CWBÂ announced that 2008-09 initial payments for wheat, durum and designated barley will increase effective February 19, 2009. The increase will be $30 per tonne for wheat, $25.80 for durum and $39 for designated barley. These payment value will apply to all grades and classes.
View full list of 2008-09 payments
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.
Farmers who delivered wheat, durum and designated barley to the CWB between August 1, 2008 and February 18, 2009 will receive an adjustment payment. The payments will be mailed by March 6 or received by direct deposit on March 3. Farmers who wish to defer payments have until February 25 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.
