80% EPO ends today?

[TOM4CWB]

Dear Charlie,

We got notice the 80% EPO's will end today from the CWB.

This must mean that Initial Price increases are massive and will be soon!

It is great the CWB staff had integrity and didn't take our money... but actually were fair to us!

Way to go 1-800 folks at the CWB!

[charliep]

We all know a recommendation went went in after the September PRO (front page article western producer about a month ago). Other than that, no new information. Will see over the next couple of days. On the EPO, can't comment on why they keep charging same premiums. If I could do this, I could explain the big jumps in durum fpc price on PRO days.

The other interesting factor is the overall decline in the wheat markets since then and the announcement Monday the CWB will not take wheat on the "C" series if this would have a negative impact on the overall pool returns.

The September 27 CWRS fpc was $325.69/tonne. Today it is $288.75 (a $1/bu decline). The CWB request for an increase (Oct. 22 Bulletin) was quoted as: "The CWB is working with the Government of Canada to get farmers’ money to them as quickly as possible. Increases are currently being considered for the 2007-08 initial payments at the following levels: $44 to $65 per tonne for milling wheat, $116 to $131 per tonne for milling durum, $50.50 to $61.50 per tonne for malting barley and $100 per tonne for feed barley." Realize the CWB has sold a significant portion of the 2007/08 crop but would expect a decline in this months wheat ex durum PRO.

2007/08 appears to be a carbon copy of the 2002/03 fiasco that cost tax payers money.