November 20, 2007
Initial payments for 2007/08 Canadian wheat, barley raised
The 2007/08 (August/July) initial payments for Western Canadian wheat, durum, feed and designated barley will increase effective November 22, 2007, according to the Canadian Wheat Board in a release late Friday (November 16, 2007) evening.
The increase in initial payments for wheat will range from C$41.00 to C$61.70 per tonne, with the value dependent on grade, class and protein level.
In the case of milling durum, the increase will range from C$115.15 to C$131.25 per tonne. For feed barley in Pool A, the increase will be C$100.50 per tonne, while the increase for designated barley will range from C$52.50 to C$61.50.
Initial payments represent a portion of the returns farmers can expect from the sale of their grain over the entire crop year. The payments are guaranteed by the federal government and are revised upward as market conditions allow.
The CWB cautioned that as initial payments are set in relation to world prices, levels from year to year will vary according to market conditions. Initial payments should not be confused with monthly Pool Return Outlooks (PROs) which are the CWB's estimates of total crop year returns.
The adjustment payments, in C$ per tonne, for the base 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. Source: Canadian Wheat Board.
|
|
Initial 2007/08 |
Adjust Payment |
Total Payment |
PRO 2007/08 |
|
No.1 CWRS wheat 12.5 percent |
US$176.00 |
US$ 54.50 |
US$230.50 |
US$292.00 |
|
No.1 CWAD durum 12.5 percent |
US$187.50 |
US$127.00 |
US$314.50 |
US$467.00 |
|
No.1 CW Barley |
US$130.50 |
US$100.00 |
US$230.50 |
US$254.00 |
|
Special Select CW Two-row Bly |
US$198.50 |
US$ 61.50 |
US$260.00 |
US$290.00 |
|
Special Select CW Six-Row Bly |
US$173.50 |
US$ 57.50 |
US$231.00 |
US$261.00 |
C$1.00 = US$1.01
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