CCGA advance a red flag

[the big wheel]

Liberals are duds but where is rhe conservatives on this issue? Sask party? Ndp?

[iceman]

"Farmers can use the proceeds of a 2019 advance to repay a 2018 advance, as long as they have the security required to cover both advances"
Gonna roll the problem into 2020.

A rolling loan gathers no loss........ ................. until it stops rolling!

So what exactly are we talking here? Is the advance on the crop in the field? Or is it mainly on 2018 inventory?

If it’s on inventory I think people need to sit down and re-evaluate their grain selling

Iceman

[SASKFARMER]

What Trudeau is doing is getting money out with a repayable loan, so he feels he is doing something. An arrogant prick would think this is such a good idea.

Some will roll there last years forward, and it moves the repayment a year out opening up cash for fall. But if something goes wrong like a bin is lost, or crop freezes this idea fails, and they will always get paid.

Its a loan.

[AlbertaFarmer5]

"Farmers can use the proceeds of a 2019 advance to repay a 2018 advance, as long as they have the security required to cover both advances"
Gonna roll the problem into 2020.

Personally, I like the idea. Or I would be in favor of allowing repayment by any means without having to provide receipts. I was considering taking a cash advance earlier this year on stored grain, but wasn't confident that there would be the chance to sell before Sept 30, so could have ended up being penalized with interest by repaying without proof of sale, so didn't take the advance( and still have the grain..., sorry Iceman).

But I am of the habit of storing grain for multiple years as required to wait for an opportunity to come along, and although that doesn't look like a very smart move with canola lately, it has always paid off very well in the past. Some years I take a Cash advance and make that a little easier, but don't want to back myself into a corner and having to sell by a certain date on the calendar ( and typically the lowest price of the year no less)

[bucket]

I like the idea of rolling the repayment....if it keeps guys from selling and forcing the market to pay up....

It may or may not work but there are production issues not fully identified yet...all over the world...

I think advances should be interest free on the full amount as part of farmers contribution to the economy and the environment that we haven't been fully credited for...

Seems odd that every industry that gets government support has the teaser that jobs are created or maintained....and yet agriculture fires up every year and spends...profit or or not...and yet it isn't seen as an economic driver to the general population...

[newguy]

I am sure any grain sold will go towards the 2018 cash advance first.then you start paying for 2019 cash advance.would be surprised if a farmer does not deliver enough by then as long as he has the inventory he actually reported when he took out the advance and has been paying it as agreed upon along the way.