Richard Gray's Comment Page 16 Western Producer

[charliep]

I note Richard Gray's comments in the December 4 Western Producer.

First column quote:

"The Daily price contract has nothing to do with the selling price of
the wheat board. It is a formula price, thats it". YES. THE OLD DPC
(NO LONGER AVAILABLE WAS RELATED TO A BLOCK OF AVERAGE
DAILY PRICES IN THE US.

MORE INTERESTING IS THE QUOTE IN THE LAST COLUMN.

"While Charlebois and Pedde found an interesting instability in basis
levels during the program's life, which Gray said the WHEAT BOARD
SHOULD EXPLAIN, he added that can't be drawn into a conclusion the
CWB does a generally bad job.

"ITS JUST A FORMULA PRICE" he said."

The article then goes on to quote Gray on the need for benchmarking
(I assume independent).

[mcfarms]

Charlie

In regards to benchmarking that question was asked quite some time ago here on Agriville to a sitting director who said he would go and get that information on how the sales book is benchmarked I think we are all still waitng for that answer.

I believe the lack of an answer was the answer.