Adjustment Payments Announced.

[charliep]

Note that an adjustment payment payment was announced. Wide range on spring wheat so protein spreads will be brought into line. The details have not been posted on the CWB website.

My strategy suggested elsewhere just got blown out the window.

CWB announces interim payments for the 2010-11 crop year
October 28, 2011

Winnipeg - The CWB today announced that interim payments will be made for most grades of wheat, durum and barley delivered to the CWB during the 2010-11 crop year.

Interim payments represent partial settlement of the proceeds due to farmers from the sale of their grain. Interim payments are issued after the crop year ends, and are an earlier payment of proceeds that would otherwise be included in the final payment. A final payment to farmers is made after CWB accounts are finalized, typically in early December.

The interim payments for wheat, announced today, range from $2.80 to $55.20 per tonne (average $25.50), depending on grade, class and protein level. The interim payments for durum wheat range from $19.50 to $34.50 per tonne (average $23.30). The interim payment for designated barley is $6 per tonne for two-row and six-row. The interim payment for Pool B feed barley is $7 per tonne.

[mcfarms]

Want to make a comment on the stellar malt adjustment but %(*&$*^$^%^)^_&_&%^&^$$$*$(%( too paraphrase another post on here today.

[charliep]

Should correct myself. Actually an interim payment on 2010/11 - not an
adjustment on 2011/12. That won't be happening anytime soon it would
appear. Normally there a press indicating the CWB board of directors had
made a recommendation, a review by the federal government and 6 to 8
weeks later, the official announcement. Should be room for higher payments
- particularly on durum. Hopefully this recommendation is in the system

[bucket]

The 11/12 PROs dropped and I think they will continue to. Remember a few years back when they had durum worth more than wheat and by the time the final came out it was 100 a tonne less than they orginally forecast.

Now with a court case and severance costs everyday, I suspect no interim for quite a while.

Bigger question is why feed wheat at the port is worth over ten bucks and such a spread on the prairies. But then again, durum has been worth over 15 bucks at the port since mid june and the PRO is going down and the spread to the initial is over ten bucks a bushel.

Can a CWB supporter or employee explain.