February 18, 2009
Initial payments for 2008-09 Canadian wheat, barley raised
The Canadian Wheat Board increased initial payments for the various grades of wheat, durum and barley for the 2008-09 crop year which began Aug. 1, 2008, and ends July 31.
The increase will be C$30 per tonne for wheat, C$25.80 for durum and C$39 for designated barley, the CWB said Monday in a press release.
Initial payments represent a portion of the returns farmers can expect from the sale of their grain over the entire crop year, the CWB said. The payments are guaranteed by the federal government and are revised upward as market conditions allow.
The CWB cautioned that as initial payments are set in relation to world prices, levels from year to year will vary according to market conditions. Initial payments should not be confused with monthly pool return outlooks which are the CWB's estimates of total crop year returns.
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Initial 2008-09 |
Adjustment 2008-09 |
Total 2008-09 |
|
No. 1 CWRS wheat 12.5% |
$213.00 |
$30.00 |
$240.00 |
|
No. 1 CWAD durum 12.5% |
$250.00 |
$25.80 |
$275.80 |
|
Special Select CW Two-row Bly |
C$254.00 |
C$39.00 |
C$293.00 |
|
Special Select CW Six-Row Bly |
C$234.00 |
C$39.00 |
C$273.00 |
|
Source: Canadian Wheat Board |
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US$1 = C$1.26313 (Feb 18) |
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