I need these questions answered.

[wilagro]

You are right charliep, I have nothing to contribute to this particular thread. I have always regarded the PRO as being totally unreliable and the figures presented as figures picked out of the air by some junior clerk in the backroom of the accounting department.

The PRO usually presented an extremely negative outlook and never encouraged producers or showed that their crop choices were the correct ones.

[charliep]

Interesting comeback. Understand the process behind the PRO/was part of the team that developed. Besides, a forecast is a forecast is a forecast - all come with relatively short expiry dates/periods they are relavent. So the PRO forecasting part is not the issue although explanation of changes could be done better.

What is the issue is the visibility and ability to verify the accuracy/fairness of producer pricing options. We all realize the CWB is the only game in town. They are responsible for producer pricing options but they also have to be accountable for the values to people who use the programs.

I also note these same programs lost $40 mln in 2006/07 (page 58 annual report) and will likely lose far more in 2007/08.

[parsley]

wilagro, I knew you'd be "rubbering"

LOL

At least we can communicate in the same language we both understand. :>)

We will have a glass of champagne together, wilagro, how be when the CWB is voluntary? Are you a good sport?


Parsley

[charliep]

Interesting the CWB released an explanation of the basis calculations as we were communicating here.

http://www.cwb.ca/public/en/farmers/producer/fixed/commentary/

[parsley]

Pavlov's laptops.

A grunt and a "slap a page up for the whiners" reaction to the summer student reading the thread out loud, and then the department goes back to the exercise room to tone up before they hit Canada Day beaches.

Until that place is voluntary, it has to be completely and utterly torn down.

Parsley

[Fransisco]

Here are the basics from the webpage.

<blockquote>Three components are used to calculate the PRO basis: the monthly CWB PRO, the CWB’s forecasted futures, and a discount for the time value of money, risk and administration cost:

PRO basis = (CWB PRO - CWB forecasted futures) - discount </blockquote>

There is a bit more detail than this on the webpage though not much, I think that it is suffice to say these are all CWB "black box" items and there is no way that mere mortals are allowed to peer inside the black box.