Wednesday with White

[TOM4CWB]

Dear President White;

With recent deregulation in Australia... there is some interesting discussion on wheat basis levels... and the loss of the "single desk" around this issue.

The CWB keeps telling us it extracts a premium for us... this should mean 'reasonable' basis levels... without being 'gouged' by a 'single desk' that has no competition to keep the basis at a reasonable level competitive to other markets like the US.

The CWB has recently said the US market for wheat is uncompetitive with world levels... yet record export sales are on the books for US growers to fill... at huge premiums to CWB basis levels.

WHY? WHERE is the CWB Premium over an open competitive system?

[bucket]

Mr. White

I am curious as to how the cwb can go a month without bringing grain into the system (ie. no calls) with a pricing system that forces farmers to sell non board grain at discounted prices to generate cash flow because the cwb offers horrible options. Zero call on a 50% initial = zero. 25% call on 50% initial still only gives a farmer 12.5% of his money.

How can you not recognize the system is disfunctional?

[TOM4CWB]

Dear President White;

With food processors/grain buyers making massive profits... and the CWB taking huge value off our Fixed Price Contracts... in basis deductions...

Since grain growers are short about $60/t... who gets this money?

1.)Speculators; (RISK MANAGEMENT THAT HAS FAILED)

2.)GRAIN BUYERS... (RESULTING IN LOWER GRAIN PRICES 'DESIGNATED AREA' GROWERS GET THAN THE US AND AU GROWERS RECIEVE)

3.) GRAIN HANDLING/RAILROAD/SHIPPING FOLKS POCKET THE DIFFERENCE... BECAUSE OF 'SINGLE DESK' LACK OF COMPETION TO DRIVE COSTS OUT...

OR

SWISS BANK ACCOUNTS... FOR WHO?

i TRULY DON'T BELIEVE THAT THE CWB IS GIVING THIS MONEY TO PRIME MINISTER HARPER!

GRIN : )