Viterra expects to realize 33-36 $ per tonne of grain handled in 2011 up from 30-33 of "net profit"last year. No mention that they make more or less from open market grains or CWB grains. Nice increase.
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Viterra 2010 financial statement.
Page 29, item 22 Financing Expenses:
CWB carrying charge recovery
2010 2009
(1,693) (2,932)
Notice these expenses are negative expenses, meaning income.
Description of CWB carrying charge:
"The opportunity cost of unproductive assets; the expense incurred by ownership."
I guess we own the grain and the associated expense, we just can't sell it ourselves. Oh well, at least it helped out Viterra.
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Does anyone think any grain company is going to do the cwb logistics without making a shitload of money. The cwb had to buy back durum from the grain companies because the graincos were smart enough to pay for it off board. And they knew what was going on. The cwb assumed the grain they didn't call last year was still theirs.
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Davey instead of Quotin' Stats pretendin like you know someting or someone in High Places. Put yer Moneys ware yer mout is & put dee Facts up fer us all to see.....
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NO need for any stats, just go ask anyone who owns shares in an inland terminal where the money comes from, how fast they paid for the asset and how nice dealing with board grains is, and they do not make margin from the trade, they just handle it.
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