I had assumed the deadline for the EPO signup was November 30 but I see is now December 31 (http://www.cwb.ca/en/contracts/early_payment/index.jsp). I still encourage farmers to use this program (80 % level for most farmers and 90 % for anyone under cashflow stress) with the following caveat on the order of announcement. Hope you don't mind me comparing the order of events to the Clint Eastwood movie.
The GOOD - An adjustment is a good thing and potentially could reduce the need to spend the premium on an EPO. The questions are when and how much the federal goverment are willing to let loose (see the ugly).
The BAD - A person would hate to spend money on an EPO only to have the adjustment payment announce a few days later - you would have wasted some of the premium.
The UGLY - Given the 99.9 % probability of the 2002/03 wheat deficit, there is going to be a desire by both the federal government to keep a low profile on this issue. Look for a low key announcement on final payments with not a lot said this December (should be out any day). An even more low key strategy around the actual announcement of results in the annual report.
The GOOD - An adjustment is a good thing and potentially could reduce the need to spend the premium on an EPO. The questions are when and how much the federal goverment are willing to let loose (see the ugly).
The BAD - A person would hate to spend money on an EPO only to have the adjustment payment announce a few days later - you would have wasted some of the premium.
The UGLY - Given the 99.9 % probability of the 2002/03 wheat deficit, there is going to be a desire by both the federal government to keep a low profile on this issue. Look for a low key announcement on final payments with not a lot said this December (should be out any day). An even more low key strategy around the actual announcement of results in the annual report.
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