Grain Waves: Most Prairie grain still uncommitted as pool deadline looms, says CWB
Undecided farmers are still holding back large volumes of the Prairie harvest, according to CWB - which will close its Harvest Pool this Friday (November 9). And that could cause problems for producers who try to deliver their grain later on.
Listen to Gord Flaten, vice president of grain procurement, talk about how farmers could face delivery congestion next spring if they don't take advantage of earlier delivery opportunities.
"I think if you talk to most people in the industry, there's probably still about 65 to 80 per cent of the crop out there that hasn't been committed yet by farmers to either a pool contract or a cash contract, so there are a lot of decisions still to be made by farmers."
Listen... 17 sec.
"If farmers wait until spring, there may be situations where they may not see delivery opportunity then, or they may see the basis on cash contracts become quite expensive, and so I would encourage farmers who are looking for delivery opportunity to consider at least putting some of their grain in a pool where we can start shipping that now."
Listen... 24 sec.
If large amounts of grain try to enter the system at once, Flaten says that could worsen delays in train movement and port loading that typically occur over the winter.
"Congestion in the logistics system can be caused by the amount of grain that's trying to force its way in, and also by weather issues that can happen at any time of the year, so if you want to be sure that you're going to get your grain moved during the crop year, it's a good idea to start moving it early and signing up for contracts that give you an opportunity to move it early."
Listen... 24 sec.
Flaten says CWB has now sourced enough grain to run an effective pool. But there's still room for more.
"We've had solid sign-up to date in the Harvest Pool and definitely enough to run an effective pool, and I think farmers who are in the pool already are going to see some good results. We do have room for additional tonnes, we'd like to see farmers sign up more tonnes and we know there's a lot of uncommitted grain out there where farmers have not decided yet whether to sign it up to a pool or a cash contract with a company, so we'd definitely like them to consider the pooling option with CWB."
Listen... 27 sec.
CWB announced an extension to its Harvest Pool deadline last week, giving producers until November 9 to sign up. Flaten says the response from farmers has been steady this week. He is expecting a lot of activity in the lead-up to Friday's final pool deadline.
Undecided farmers are still holding back large volumes of the Prairie harvest, according to CWB - which will close its Harvest Pool this Friday (November 9). And that could cause problems for producers who try to deliver their grain later on.
Listen to Gord Flaten, vice president of grain procurement, talk about how farmers could face delivery congestion next spring if they don't take advantage of earlier delivery opportunities.
"I think if you talk to most people in the industry, there's probably still about 65 to 80 per cent of the crop out there that hasn't been committed yet by farmers to either a pool contract or a cash contract, so there are a lot of decisions still to be made by farmers."
Listen... 17 sec.
"If farmers wait until spring, there may be situations where they may not see delivery opportunity then, or they may see the basis on cash contracts become quite expensive, and so I would encourage farmers who are looking for delivery opportunity to consider at least putting some of their grain in a pool where we can start shipping that now."
Listen... 24 sec.
If large amounts of grain try to enter the system at once, Flaten says that could worsen delays in train movement and port loading that typically occur over the winter.
"Congestion in the logistics system can be caused by the amount of grain that's trying to force its way in, and also by weather issues that can happen at any time of the year, so if you want to be sure that you're going to get your grain moved during the crop year, it's a good idea to start moving it early and signing up for contracts that give you an opportunity to move it early."
Listen... 24 sec.
Flaten says CWB has now sourced enough grain to run an effective pool. But there's still room for more.
"We've had solid sign-up to date in the Harvest Pool and definitely enough to run an effective pool, and I think farmers who are in the pool already are going to see some good results. We do have room for additional tonnes, we'd like to see farmers sign up more tonnes and we know there's a lot of uncommitted grain out there where farmers have not decided yet whether to sign it up to a pool or a cash contract with a company, so we'd definitely like them to consider the pooling option with CWB."
Listen... 27 sec.
CWB announced an extension to its Harvest Pool deadline last week, giving producers until November 9 to sign up. Flaten says the response from farmers has been steady this week. He is expecting a lot of activity in the lead-up to Friday's final pool deadline.
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