Early Speculation on Tomorrow's November PRO

[charliep]

Any early forecasts on tomorrows PRO (November).

Mine guestimate is no change to any of the pools. Durum would be a question.

Note the fixed price contracts and converted US futures are actually down a bit from October. This would indicate should be a small drop but don't think will happen.

[bucket]

Suspect some up movement - the election is not over yet.

[cchurch]

Just wait for the initials to go up after the election.

[bucket]

Too bad the cwb didn't ask for the adjustment as soon as they made the durum call. The cwb wouldn't have wasted farmers money on demurrage. They had 8 weeks from the time they made the call to the time they filled out the paperwork properly.

[charliep]

Is there anyone in the agricultural community that doesn't know an $70/tonne adjustment payment is coming? What planet do they live on?

If cash flow is an issue, I would hope every farmer is well aware of the early payment options - 80 % EPO are very low cost premiums. The minimum I would do on any CWB delivery these days is an 80 % EPO - that is unless I am so well healed cash wise and have a 2010 tax problem/don't want the income this year.

From a taxpayer standpoint, why shouldn't the CWB/farmers handle risk without a taxpayer supported adjustment payment? I would note that the low cost of EPOs would indicate minimal risk at the 80 % level and low cost to manage. That should be your responsibility as a farm manager.

[Burbert]

I heard somewhere that the cause of this snafu, is Ritz cracker head, complaining the paper work wasn't done correctly. Politicos playn games, Harpo and crew, trying to git more of us Comedian farmers to hate the CWB. To bad that we ain't as dumb as they think we is!!!!!!!!!

[grrrr]

Burbert: Good thing we are not as dumb as you sound.

[TOM4CWB]

Burbert,

Again... Just in Case you actually missed this the first time I posted it:

'The Bulletin
November 8, 2010

At a glance

Increases to initial payments are likely to receive government approval later this month for producers who have delivered wheat, durum and barley to the CWB so far in the 2010-11 crop year. The CWB made a recommendation to the federal government to increase initials on Sept. 3. Following a significant rise in markets and difficult harvest conditions in Western Canada, the CWB submitted a revised recommendation on Sept. 29, in order to get more money to farmers faster. The revision means farmers will receive the full adjustment sooner than if the original recommendation had been approved, followed by a second recommendation reflecting the change in market conditions. If approved by the federal government, the revised recommendation would increase payments to the base grades of wheat, durum, feed barley and malting barley in the range of $50 to $70 per tonne. The timing of payments cannot be confirmed until government approval is received, according to a process set out by the CWB Act."

http://www.cwb.ca/public/en/newsroom/publications/

So perhaps an Apology would be in order... BURBERT.

[Burbert]

P;rediction on PROS. Up, up, up. Nuf said!!!

[bucket]

Then sometime in 2011 down, down down.

Just like the durum pro from feb 09 to sept 09.