Canada: CWB announces initial payments for 2005-06 crop year increased

The CWB announced on November 23 that 2005-06 initial payments for feed and designated barley will increase effective November 28, 2005.

For feed barley in Pool A, the increase will be $32.00 per tonne, while the increase for designated barley will be $22.00 for two-row and $24.00 for six-row varieties.

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.

No. 1 CW Barley (Pool A)
Initial payment $73.00
Adjustment payment $32.00
Total Payment $105.00

SS CW 2 Row Designated Barley
Initial payment $119.00
Adjustment payment $22.00
Total Payment $141.00

SS CW 6 Row Designated Barley
Initial payment $107.00
Adjustment payment $24.00
Total Payment $131.00

A complete listing of payments for all grades in dollars per tonne and dollars per bushel is posted on the CWB's Web site.

Farmers who delivered wheat, durum, barley and designated barley to the CWB between August 1, 2005 and November 28, 2005 will receive an adjustment payment. The payments will be mailed by December 9, 2005 or received by direct deposit on December 6, 2005. Farmers who wish to defer payments have until November 29, 2005 to notify the CWB by calling 1-800-275-4292.

Initial payments should not be confused with monthly Pool Return Outlooks (PROs) which are the CWB's estimates of total returns in each of the pool accounts. The initial payments represent a portion of the final returns that farmers can expect to receive for grain sold through the CWB.

Controlled by western Canadian farmers, the CWB is the largest wheat and barley marketer in the world. As one of Canada's biggest exporters, the Winnipeg-based organization sells grain to more than 70 countries and returns all sales revenue, less the costs of marketing, to Prairie farmers.

25 November, 2005