News Release: CWB Begins To Market Canola.

[AgrivilleAdmin]

CWB makes historic move to begin
marketing canola


Winnipeg - CWB announced today that it
has begun selling farmers' canola, the
first time in 63 years that a new crop
has been added to its marketing mix.
Canola, an oilseed that is the second-
largest crop grown in Canada, now joins
wheat, durum and barley as products
marketed around the world through CWB's
farmer pools.

"Farmers have been telling us they want
CWB to run canola pools to help manage
their price risk and provide them with
reliable returns through a system they
can trust," said CWB president and CEO
Ian White, adding farmer sign-up is now
open for the new CWB canola pool.

"The farmer benefits of pooling apply
just as successfully to canola as to
wheat. Farmers retain all the profits
generated from their grain sales,
instead of simply taking a flat price at
the elevator. It also means they can
spend more time on their crops instead
of chasing the commodity futures
markets."

CWB weather and crop experts are
anticipating a record-sized canola
harvest on the Prairies this year, up by
more than five per cent from last year
to over 15 million tonnes (about 30 per
cent above the five-year average).

Canola is the first new crop to be
marketed by CWB since 1949, when oats
and barley were added to its wheat-
selling mandate. CWB is the only company
offering farmers the popular pooled
approach to grain marketing for the
2012-13 crop year, which began August 1
under a new open-market model. Under
pooling, all revenue is deposited into a
single pool and participants are paid
the average achieved across the entire
marketing period, allowing highly
effective price-risk management and a
strategic approach to the sales process.

Initial payments for canola are expected
to be announced by early September.
CWB's first Pool Return Outlook for
canola, issued today, is $640 per tonne
(basis in-store Vancouver or Thunder
Bay).

Farmers can deliver the canola they
contract with CWB to 42 delivery points
across western Canada (see list below).
Additional delivery locations are
expected to be added. White said
producers can participate in the risk
management benefits of a canola pool
while retaining the flexibility of
dealing with whatever handling company
they choose.

"A big advantage to contracting with CWB
is that farmers can sign first and
choose their grain handler later. That
means they can shop their grain around
to get the best possible deal on
handling and elevation fees."

White said farmers who choose CWB as
their marketing partner can be assured
their grain will be sold into the
world's best markets. CWB customers
around the globe continue to value a
sales relationships built up over 75
years, based on a long-standing
reputation for quality and service, and
a prized international brand, he said.

"CWB has strong long-term relationships
with many of the world's largest canola
importers, who look forward to adding
canola to the list of other grains they
plan to buy from CWB," White said. "Our
overall sales objective is to focus on
buyers by serving them well, and to
capture the best possible sales prices
for farmers through the pool over the
entire marketing year."

More information on CWB programs is
available at www.cwb.ca/newera .

--30--
For more information, please contact:
(204) 983-3101
mediarelations@cwb.ca

A history of CWB grains
• CWB marketed only wheat when it
was first instituted in 1935.
• During World War II, CWB was
empowered to market all Canadian grains,
including oilseeds and Ontario corn.
• In 1949, Parliament amended the
Canadian Wheat Board Act to extend the
CWB's marketing responsibility to
encompass oats and barley.
• In 1989, the marketing of oats
was removed from the authority of CWB,
leaving it responsible only for the
marketing of wheat and barley for export
and domestic human consumption.In 2011,
the Marketing Freedom for Farmers Act
removed CWB's single-desk and gave it
the authority to market any crops, from
Canada or abroad.
• In August 2012, CWB officially
announced it will begin marketing
canola, in addition to wheat and barley.

Farmer delivery locations for CWB canola

Manitoba
Delmar Commodities: Jordan, Sperling,
Gladstone, Somerset
Linear Grain: Carman
Mission Terminal: Alexander
Parrish & Heimbecker: Dutton, Glossop,
Transcona

Saskatchewan
Fillmore Seeds: Fillmore, Creelman,
Osage, Glenavon
Great Sandhills Terminal: Leader
Mission Terminal: Neville
North West Terminal: Unity
Parrish & Heimbecker: Hamlin, Langbank,
Moose Jaw, Moosomin, Quill Lake,
Saskatoon, Tisdale, Watrous, Yorkton
Prairie West Terminal: Dodsland,
Kindersley, Luseland, Plenty, Prairie
West
Providence Grain Group: Marengo
South West Terminal: Antelope

Alberta
Lethbridge Inland Terminal: Lethbridge
Parrish & Heimbecker: Bow Island,
Medicine Hat, Milk River, Vulcan, Wilson
Providence Grain Group: Crossfield,
Gaudin, Viking
Westlock Terminal: Westlock

British Columbia
Agro Source: Dawson Creek

[Ronski]

"the popular pooled
approach to grain marketing"

bwahaha

enough said

[rdnk]

Good luck with that

[FarmRanger]

It will be interesting to see what their performance is going to be. There will be no hiding a crappy price behind an international border. Everyone will easily see what their performance was relative to the average futures price.

We'll all aplaud if they get the average with a 10 over futures and give the raspberry if their pool price comes out to futures average -40.

If attitudes haven't changed, then I suspect a final price closer to the latter, but now the fear of competition might give them an incentive to try to get the best price for their customers....customers who have the option of going to their competition.

Time will tell.

[wakopa]

okay correct me if im wrong ,but did i not
read the pool return was 640 a tonne, and
they once again forgot to take off the
1.50 charges.

[furrowtickler]

CWB weather and crop experts are now officially in my books as idiots with the crop size predictions, lol. Look at yields coming off retards... In June they might have been right for a while.

[wilagro]

Any word of a "Producer elected Board of Directors" for the CWB now that it is back in the game?

Not in the cards you say?...pity...might now work. A lot of people don't like the idea of a government-appointed board which is not at "arms length" from the government.

[Fransisco]

Well, well, well, we're finally going to see how popular this pooling concept really is. Now that no one is ramming it down our throats it'll be interesting to watch how this all unfolds.

[wd9]

Willie, why do you need to have a farmer board?
What does marketing have to do with farmers?

[malleefarmer]

Wilargro you have the passion and knowledge
put your and up!
Better you than someone else going on for the
wrong reasons.
You would earn so much respect if you ad some
skin in the me as they say

[TOM4CWB]

I was trying to convince my better half to let me sell them a load of Canola... for some reason she won't let me!

Something about letting someone else (CWB Lovers/Supporters) try it first!

Oh well... I tried... maybe I will sneak a load out when she isn't watching...

[bobofthenorth]

Where are all those diehards who have been trying for years to get canola under the board? I just talked to a rabid board supporter who had recently sold 6 trains of new crop canola. I asked him why he hadn't sold it to the board and he changed the subject. Funny how that works.

[wilagro]

bobofthenorth: Perhaps it was because of the fact that the new CWB is really the CONservative Wheat Board and not the old entity that it once was.

The new BOD are Ritz Crackerettes.
Ahahahahahahahaahhhahahhaha

[malleefarmer]

wilargro thats put your hand up for cwb
board
darn i pad
and im not being a smart arse

[gregpet]

Wilagro isn't having the choice to use the CWB great. Same people working there as before and just remember it was always govt controlled so it is a weak argument not to use the CWB now.