How long has the CWB Annual Report been out?

[Incognito]

http://www.cwb.ca/public/en/about/investor/annual/

Can't seem to find a news release but the 05/06 results are now posted.

Professional fees went up 19.75%. Administrative costs are up as well.

Significant drop in PPO useage.

Just started looking at it though.

[Incognito]

CWB says:

Controlled by western Canadian farmers, the CWB is the largest wheat and barley marketer in the world.


The CWB Auditor says:

The Corporation is accountable for its affairs to both western Canadian farmers through its elected board members and to Parliament through the Minister Responsible for the Canadian Wheat Board.


So every news release should say:

Controlled by western Canadian farmers and the Minister Responsible for the Canadian Wheat Board, the CWB is the largest wheat and barley marketer in the world.

[chaffmeister]

Does this make sense?

According to the latest annual report, the CWB is responsible for 7.8% of global barley trade in 05-06. How much "market power" have you got when you have less than 8% of the market and the likes of Australia has 25.5% and the EU has 21.0%?

Yeah, the global buyers are falling over each other to buy Canadian barley.

The CWB was responsible for 49.8% of the global durum trade in 05-06. The next closest wa the US at 14.9%. Why is it again that we give Algeria "preferential pricing"? If ever there was a case for "market power" (this time call it "market dominance") its Canadian durum. But we don't seem to get premiums here....

In case you're wondering about wheat, Canada got 11.1% of the global trade of wheat in 2005-06, trailing Australia at 15.1%, the EU at 12.4%, and the US at 27.5%.

[Incognito]

"the CWB is the largest wheat and barley marketer in the world."

so this line is BS too?

[Fransisco]

So what was the 15-20% number we used to hear about? I thought that was wheat.

[chaffmeister]

“The great enemy of the truth is very often not the lie — deliberate, contrived, and dishonest — but the myth — persistent, persuasive and realistic.”
— John F. Kennedy, 20th-century American president (from the Yale Commencement address, 1962)

[mustardman]

Chaffmeister don't believe that load of crap from USW - they are our competitors, thay can't compete with us in Algeria based on quality not based on price.

They are great at keeping the " Myth "
going that we undercut them in price.

Funny how 14 times we've been taken to court from these guys and Every Time
Theyv'e lost .

Yet they keep the myth going.

[Incognito]

Love truly is blind.

[chaffmeister]

Mustardman – what you are saying is exactly what I mean about the myth.

1…I don’t get my information from USW. On the issue of Algeria I got the original FRENCH article and had it translated by someone in the grain trade that has extensive knowledge of the Algerian durum business.

2…Algeria buys poor quality durum – contracts tend to be for 3’s with a discount for 4’s and a premium for 2’s. Part of the attraction of Algeria as a buyer is that we can get rid of some of our poorer quality there, unlike in other markets that demand higher quality.
So the US could compete with us on quality – if it weren’t for the “preferential prices”.

3…Not sure about your logic saying that the USW are “great at keeping the " Myth " going that we undercut them in price.” The USW didn’t make up the “preferential prices” comment – they only reported it. The Algerian buyer said it – look at the CWB website where the CWB-approved translation can be read. Even the CWB acknowledges that he said it.

Don’t get swayed by the CWB’s attack on the phrase “low prices” – it’s a common tactic of the CWB’s to point at one small technical error in the hopes you’ll see the whole report as bogus. (To a buyer, “low prices” are the same as “preferential prices”. The CWB hopes you don’t make the connection.) It’s called a distraction – I use the same tactic on my 6-year old when I can get away with it. (Usually he sees right through it!)

4…I've done the research on the trade challenges and I've reported it here (as have others). But I'm getting tired of repeating myself. I suggest you re-read the stories and documents about all the US wheat trade challenges so that you can see the REAL reasons for them.

[stubblejumper]

Chaffmeister you should think about getting a job . You seem to have way to much time on your hands.

[just_wondering]

What I would like to ask of the manderins from the CWB is why does it take untill Grain World to release new crop PRO's.
If I have to wait untill the end of Feb to make planting decisions as far as seed cleaning, signing production contracts and planning cash flow. They are already projecting out 18 months why not 20-24 it's all an estimate anyway?
As it stands now I can't pencil in profit on CWHRS or Durum unless we get above average yeilds
I used barley $150 tn, CWAD $165.00 CWRS 140 #2CW- 12.5 ptn

[charliep]

Just a note this thread started on the annual report and seems to gone somewhere else.

I note comment about the low level of use of all CWB producer pricing options. This is the CWB claim to fame throughout most of the annual report and yet farmers are not using them. Perhaps most farmers are wealthy and profitable enough they don't have to use the programs. Or perhaps there are other reasons - the costs of the programs are too high/cut into price to much.

I also note the programs ran a $6.7 mln deficit - no issues this year about transfers into the over pools.

Note that I got into the report last night but can't this morning - someone maybe posted too early (could be normal web maintainence as well). Interesting that released with this little fan fair.

[Incognito]

Charlie says:

"I also note the programs ran a $6.7 mln deficit"

Vader & Chaff:

FX? Grain hedging? Basis Management?

D) all of the above

How is this possible with staff dedicated to risk management?

Consequences?

[TOM4CWB]

Chaffmeister,

I appreciate your ability to "bang your head against a concrete wall" for the purpose of exposing folks to our understanding of the truth.

Your JFK quote says soooooo much.

Figures can lie, and Liers can figure.

I appreciate your attempt to shed a little light on the subjects that are politically relevant and forefront in many of our minds...

Hopefully there is a little entertainment value as well!!!

God Bless Canada!

[TOM4CWB]

Incognito,

The CWB can make up any number they please... as they don't match the risk management with PPO contract directly anyway... as Measner explained to me.

We complained too much about the adjustment factor... hence a loss is created to make and justify CWB policies look acceptable.

Just a simple solution to a problem my small mind would see... if I were in charge down at the CWB! (Not that I agree with the fee!)