The CWBÂ announced that 2009-10 initial payments for wheat will increase by between $5 and $44.65 per tonne, depending on grade, class and protein level, effective June 3, 2010.
The adjustment payment, in dollars per tonne, for the representative grade is listed below. The total initial payment to date is basis in-store Vancouver or St. Lawrence and must be adjusted for freight and 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 available at www.cwb.ca/payments.
Farmers who delivered grain for sale through the CWB wheat pool between August 1, 2009 and June 2, 2010 will receive an adjustment payment. Payment will be issued to producers by direct deposit on June 15. Farmers who receive payment by cheque can expect to begin receiving their cheques in the mail after June 24.
Farmers who wish to defer payment have until June 9 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.
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.
