How Healthy is YOUR CWB Contingency Fund?

[parsley]

Two MAJOR QUESTIONS facing farmers before voting. Admin costs and contingency fund. We know they didn't market worth mouthflop when the price was high, (just count your money), so the next thing we have to judge the incumbents on is administrative performance.

That's the other part of the "dual question" farmers have a right to get answered before marking that ballot, popping up in the mail probably beginning this week.

Ask the incumbents. No answer means bad, bad, bad.

Insist. Demand. Don't blink.

Admin expenses and contingency fund.

Parsley

[parsley]

wilagro,

You support Board marketing.

Phone an incumbent, and ask him if the contingency fund is in good shape, he doesn't have to give a "figure", and ask if he's proud of how the Directors have looked after farmers' money for bad times ahead.

Post his reply. Will you?

Best, Parsley

[GrainBeetle]

I'm glad to see the CWB's "contingency fund" is a lot smaller than Cargill/Mosaic's "contingency fund".

[furrowtickler]

So is the net return fund for all board grains after the highest wheat price in history past us by. Watch the pro's keep goin down.

[GrainBeetle]

I locked in my the majority of my hrs cwb grain last feb08 for $440/tonne on the fixed basis program. I did this because it was a profitable level for my farm.

The board probably didnt do the same on pooled grain because as tom4cwb always says, "how can the cwb sell my grain before I contract it to them".

thanks tom for the bad advice.

[charliep]

Skill testing questions?

Why have a contingency fund?

Whose money is in the contingency fund? The
CWB? Farmers in general? Farmers who used the
CWB PPO's?

Where did the money come from that went into the
contingency fund? You will have to read the
2006/07 annual report - a hint is barley/interest
earnings on old sales.

If the CWB needs to replenish the contingency
fund, where will the money come from?

What is the real cost of the CWB producer payment
options? To the CWB? To farmers who use the
program?

[parsley]

Another thought...and I would strongly advise that you ask it, since the money does not belong to Chavez, but to YOU: Is the contingency fund loaded with cash, $0.00, or in a deficit position.

Pars

[TOM4CWB]

Grainbeatle,

"The board probably didnt do the same on pooled grain because as tom4cwb always says, "how can the cwb sell my grain before I contract it to them".

thanks tom for the bad advice."

Now I am being blamed for CWB the lack of risk management the CWB does?

If you contracted your grain... then the CWB should have sold it and gone short... but did the CWB actually do this?

NO.

The pool account is the short... and everyone else pays for the $440 hedge.

Anyone wonder why the CWB is $100/t short... it is simple risk management... and the lack of a transparent system that exposes this fatal flaw.

AND now this is my fault?

[Burbert]

Duhh lets see. Why have a contingency fund, when you or your business can just go to the Feds and get a big bailout, like in the excited states. Now that would be the simple solution, whinning and sniveling is the farm way. Taking responsibility and salting some away for a rainy day, doesn't work with the free booters, unless you are the Alberta Grain Commission poised to double the levy take on barley in Albertie, now that is progressive, money well spent.........