National Post- Wheat Board may have cost growers billions

[parsley]

I will be particularly interested to see just if ONE Board supporter on Agv can find one single thing in the CWB response which may be considered as "brown hairy hogwash" and actually post it.

Parsley

[chaffmeister]

CWB Message Management 101:

In a July 31 News Release the CWB stated the following about COMPARING CWB RETURNS TO US PRICES:

<b>The largest proportion of U.S. farmers reportedly sold their wheat at $6 to $7 per bushel, well before the dramatic price spike of early 2008. By comparison, western Canadian pooled returns were about $8.50 per bushel for spring wheat and $12.35 for durum.</b>

In an Aug 8th News Release, the CWB points to various flaws in the Informa Study including the following "flaw" about COMPARING CWB RETURNS TO US PRICES:

<b>Comparisons to U.S. elevator prices, which are based on a different set of market factors than Canadian wheat returns.</b>


Basic premise: When you can present something in your favour, run with it. When its used to work against you, refute it.


And that my friends is why getting this stuff to stick to the CWB is like nailing Jell-O to the wall.

[parsley]

Perhaps. They will not admit.

But at the end, we will have a Board with very noticeable willnots.

Parsley

[wilagro]

charliep: Good response from the CWB re: the Informa final report. Nice to see that Mr. White is on the ball.

[Fransisco]

The CWB response looks more like a drive by smear than anything else. First off they call it an "Alberta Report", its not, it was done by Informa,and paid for by Alberta Ag, there is a difference.

And I got a good laugh out of this line of non reasoning,

"Comparisons to U.S. elevator prices, which are based on a different set of market factors than Canadian wheat returns. American wheat has an intrinsic price advantage due to factors such as the dramatically lower proportion exported from the U.S. (40 per cent compared to 80 per cent in Canada). This means less U.S. grain is sold into diverse markets outside North America where prices tend to be lower and transportation logistics more expensive."

Is anyone(other than Willagro) really going to believe this bunk?

I mean come on, the US elevator price is the world price backed off to that elevators location. Even if they didn't export a bushel it would be a reflection of the world price, because if it wouldn't they'd be swamped with cheaper imported wheat.

If the board wants to try and smear Informa by claiming that it "misused data" to reach " false conclusions"its going to have to back it up with some actual substance. Denying reality and substituting their own ain't gonna cut it.

[Fransisco]

And I'm getting more and more disappointed with Ian White all the time. I thought he had some class, but he's just as eager to throw cheap shots as the rest of them.

[wilagro]

Fransisco: Ian White has a very distinguished career record. Check it out. I thought at first that he might be just another government suck, but he is showing some muscle and grit.

[charliep]

Just to note the messaging on either side is not about
individuals. Tough job to be shoved into the board of
directors pushing you one way (deal with strategic
issues/performance targets), operations another way
(don't expect Ian White wrote the press release) and
finally trying to formulate your own long term
vision/management style in your new position.

[Fransisco]

From the release

White said. “The authors have made sweeping assumptions to create comparisons so simplistic that they are meaningless.”

That's White's name attached to those words, they are a slap in the face and a smear against the folks at Informa who put the study together. Those words do not show one ounce of courage, on the contrary they exude the stereotypical spinelessness of the board .

[bucket]

If the cwb is going to discredit the report - it would seem only logical that they put their numbers into the mix.

Exactly how did we end up with such dismal returns when the prices went sky high last year and one board of director (vader) said on this website that the cwb had made substantial sales at these higher levels?

Maybe they ought to start proving their worth. I am not taking their word for it any longer.

And where is vader - has the cwb still got him gagged somewhere? I would sure like to have him explain those substantial sales at higher prices.

[chaffmeister]

I've posted somewhere here already but it seems to me that a reminder would be helpful.

In 07-08:

#1CWRS 13.5 latest (last) PRO = $370

lowest CWB offering price = $298.80
highest CWB offering price = $889.95
midpoint = $591.15
average = $468.66

You got $370
average was $468

Could you have done better on your own?

[parsley]

A logical explanation bucket, would be "a pocket desperate for cash" and the most likely could be a contingency fund in deficit. What better than to stuff it with money from DA producers?

Demand to examine the contingency fund numbers.

Parsley