CWB taking FPC funds to hold up Wheat pools

[agstar77]

If their mandate is being broken it would be up to the Directors to expose this , it would be their duty. If they are not ,I would assume you are making invalid assumptions.

[charliep]

agstar77

Perhaps where you should start is explaining the late signup adjustment factor to tom4cwb.

Then you can address the issues of the people who signed the flexpro. I would be really aggravated at the CWB if I signed on of these (the replacement for the producer friendly daily price contract).

The producer payment options and the tie in with the contingency fund as well as the overall pricing pools should be one of the major topics in the CWB director elections. I would question whether the current board of directors have a good handle on the current producer pricing options in terms of flow of money and cost/effectivenes of the CWB risk management strategy.

[charliep]

This would be the same board of directors that signed off on the $40 million loss in the 2006/07 contingency fund?

[bucket]

I have talked to Flaman, mcreary, hill chatenay. They all say after I have talked to them that things still have to be changed/tweeked but they are working on it and that some of my ideas will be brought forward to the next board meeting. That's just a way for them to get me off the phone because nothing ever changes.

Obviously they must have known years in advance that there would be a fusarium problem in Manitoba because the program came quite quickly. And yet ideas from producers like me take years to enact. Makes you wonder whose interest the board is taking care of. Maybe bill toews.

As for duty - it doesn't go to the farmers - there duty is to the cwb. Otherwise someone would explain the fees they are charging on fpc and epo's and the inconsistencies.

[agstar77]

Just have to keep hounding them till you get a satisfactory answer.

[timm]

the basis could be locked in anytime until oct.31.it was at 15mt recently .462mt net was possible but a classic case of greed took over.

[Hopperbin]

Basis according to CWB is .462 but add in the fact that 1.7 is deducted even though only half the grain makes it to port should you not add .85 to the .462 to get 1.262? But wait July basis is .8

[timm]

462canadian$ mt net less deductions at elevator was the best price offered by the cwb so far for cwhr.we farmers are such wonderful marketers but how many took advantage of this.one push of the button on e services..

[bucket]

timm

please explain more clearly how you get 15mt for a basis. The way the cwb explained it to me was if you locked in the futures price early then you don't have the adjustment factor which just leaves the basis and it has never been positive this year.

[timm]

futures only in feb at 477 on a basis contract ...then lock in 15 basis 2 weeks ago... 17 now on cwhr