Is the CWB short of wheat?

[TOM4CWB]

Charlie,

I see this:

'Contract calls
June 3, 2008
Winnipeg -- The CWB today announced calls for all C series contracts for the 2007-08 crop year. Specific calls are identified below. Effective June 3, 2008, these delivery calls apply to grain in straight, tough or damp condition. With today’s calls, 100 per cent of Series C contracts have now been called for delivery.

For a detailed summary of contract calls for the 2007-08 crop year, please check the CWB Web site at www.cwb.ca, under the Farmers tab or call 1-800-275-4292.'

It is odd for the CWB to accept and call 100% of the C series... only a couple of days after the closing of the contract!

[charliep]

Not sure. Will note the 90 cent July/Sept. inverse in the market so obviously in everyones best interest to get grain into the system/sold. Everyone should have the ability to have bins swept clean by early July/minimal inventory on July 31 (only farmers who choose to carry into new crop). Also no extended crops years/84 hour July 31.

Another factor could be a small signup on the "C" series (people took the CWB advice to heart when signing the "B" series) so they are able to pull it in quickly.

[Hopperbin]

No one is calling me to deliver my CWSWS wheat A series. CWB crap.

[Zaphod]

I talked to a trader last week who suggested the board is actually long on wheat. If that's the case, the 07/08 PROs are going to take a kicking when this gets carried over into next year.

As Charlie said, there may be very little actually signed up on C, so it's just a PR exercise.