I trust the CWB too, like when they said this about the wheat pool in 2007-08:
"Contribution from other revenue sources was negative $169 million, of which approximately $226 million was a result of discretionary commodity trading activity."
And this about the wheat pool in 06-07:
"In 2006-07, contributions from other revenue sources resulted in a net reduction of $48.7 million. This negative amount includes the results from commodity trading activity that occurred within the wheat pool pricing model."
Some call that speculating.
And this, about the PPOs in 07-08:
"...the programs generated a loss of $89.5 million. The factors that caused the losses in the wheat programs relate to commodity hedging and pricing."
Everyone knows that hedging doesn't create net losses - unless you do it wrong.
By the way cchurch: these quotes are "fact", taken directly from the CWB Annual Report. You decide whether they fit your definition of "truth".
"Contribution from other revenue sources was negative $169 million, of which approximately $226 million was a result of discretionary commodity trading activity."
And this about the wheat pool in 06-07:
"In 2006-07, contributions from other revenue sources resulted in a net reduction of $48.7 million. This negative amount includes the results from commodity trading activity that occurred within the wheat pool pricing model."
Some call that speculating.
And this, about the PPOs in 07-08:
"...the programs generated a loss of $89.5 million. The factors that caused the losses in the wheat programs relate to commodity hedging and pricing."
Everyone knows that hedging doesn't create net losses - unless you do it wrong.
By the way cchurch: these quotes are "fact", taken directly from the CWB Annual Report. You decide whether they fit your definition of "truth".
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