Ritz gets serious?

[TOM4CWB]

Vader,

Remember this?

"Thank you for joining me this afternoon to discuss the results of the barley plebiscite. I'm joined by my fellow director Larry Hill, who's on the phone from Washington, D.C. where he’s representing the board at an international farmer forum.

The results of the barley plebiscite announced today are not overly surprising. The CWB has been surveying farmers every year for the past 10 years and these results appear to be consistent with our annual findings.

If we as farmer-directors of the CWB have not moved to offer farmers a ‘so-called’ dual market or ‘marketing choice’ as the federal government calls it, it is because our analysis of this option has consistently shown that it would cost farmers and reduce their returns from the sale of barley.

Last week we met to again consider the issue and we arrived at the same conclusion: if the CWB does not have the single desk, or a complete set of assets, we can no longer add value to the marketing of barley from Western Canada."

Simply amazing.

The CWB totally messed up barley marketing... and we are expected to believe the CWB "single desk" extracts a premium?

"I call schmatzie on you".

What is this?

"People don't vote on any issue to express the wishes of their neighbors."

I suppose you don't know the "Golden Rule" Vader?

'DO unto others as you would have them do unto you.'

[charliep]

Does anyone read the CWB annual producer surver? What are the results of the black and white question everyone seems so worried about? On the current year, what will the results be of the annual CWB survey?

My contact with farmers in Alberta says they have moved beyond barley - the decision has been and it is now only a matter of time before it is acted on. The real question now is wheat. Questions to me were not about single but rather about CWB programs.

Vader and tower - The $40 mln loss and impact on the contigency fund (not $10 mln) should be the most relevant thing on people's minds. What does this say about the CWB risk strategy? Is this something that should concern the board of directors? I note from Ritz's press conference it concerned him.

Comments.

[charliep]

Should ask in the annual report but this one seems to have some CWB supporters involved.

Page 60. Will note that durum, designated barley and feed barley contributed to the contingency fund.

Durum contributed $21,000 from 754 tonnes or about $28/tonne.

Designate barley contributed about $121,000 from contract use of 19,813 tonnes or $6/tonne.

Feed barley contributed $556,000 from a contracted volume of 11,844 tonnes or $47/tonne.

From a risk management/contingency fund perspective, what is going on here? Is it any wonder why farmers are not using the durum or barley programs?