For those of you that are not on the CWB news release email, the following may be of interest to you.
http://www.cwb.ca/en/news/releases/2004/101304.jsp
Long and short, this year only farmers can get out of their fixed price/basis contracts and capture any gains on either (depending on when you signed your basis contract, you are still likely in a buyout situation that will cost you money). No mention is made as to whether you have to provide proof of feed wheat only or other documentation.
What are your thoughts on this? How is this handled for non board crops? Could you capture the futures gains on a canola contract (eg. 2/3 CW or sample and don't like the spreads)? What documentation would be needed?
I am not necessarily pro or anti this. My concerns would be around it being a one year program (an election year) and that it follows generally accepted practices used in non board crops.
http://www.cwb.ca/en/news/releases/2004/101304.jsp
Long and short, this year only farmers can get out of their fixed price/basis contracts and capture any gains on either (depending on when you signed your basis contract, you are still likely in a buyout situation that will cost you money). No mention is made as to whether you have to provide proof of feed wheat only or other documentation.
What are your thoughts on this? How is this handled for non board crops? Could you capture the futures gains on a canola contract (eg. 2/3 CW or sample and don't like the spreads)? What documentation would be needed?
I am not necessarily pro or anti this. My concerns would be around it being a one year program (an election year) and that it follows generally accepted practices used in non board crops.
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