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CWB Wheat Storage Program

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    #1

    CWB Wheat Storage Program

    I would pay some attention to this program if you have high protein (14.5 % or higher) 1CWRS wheat in the bin. Premium paid is $12/tonne for 14.5 to 14.9 and $17/tonne for over 15 plus a buck monthly allowance of $1/tonne. Premiums are to encourage on farm storage/ensuring supplies into the fall. Delivery call is at CWB option as needed. Have a question I am asking the CWB about wheat that is contracted under a 2006/07 series - can this wheat be stored on farm with the program and still be within the contracting requirement?
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    #2
    CWB link

    http://www.cwb.ca/public/en/farmers/contracts/wsp/

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      #3
      Charlie,

      The wheat can be delivered into the 06-07 pricing system, or 07-08. A preferential delivery of and equal amount is offered. For instance, if 100t is offered to the storage program, the CWB will allow a 100t delivery authorisation... to help with the storage.

      A minimum of 80t is required to sign up to the program.

      Much better deal than we started with... now I think it better reflects the costs/risks involved with reasonable compensation!

      The CWB CAN learn... it is possible!

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        #4
        Potentially could put about a $1000 extra in the pocket of a manager talked to yesterday - 2 "B" trains. As usual a CWB lottery. He was lucky to have over 14.5 protein - pity the guy with 14.4. Their problem is they are at least 2 hours drive from one of the selected few elevators that have been annointed with participation (okay in the areas that are likely to have higer protein wheat). Suspecting they can negotiate trucking allowances but that has yet to be seen.

        Agree - this is a sign of things to come at the CWB. Contracting and paying for on farm storage.

        Comment

          #5
          A little bird whispered in my ear you can use this program to deliver old crop after August 1 and get paid out under the 2007/08 fixed price contract. The strategy is worth 30 cents plus premium from the new crop fpc (plus benefit for cash flow). Have to play the game a bit but worth doing your homework if you still have 14.5 % protein 1CWRS in the bin and are close enough to one of the designated elevators.

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            #6
            Should be 30 cents/bu ($12/tonne).

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