Did I miss something, Was 423 Main hit by something?

[TOM4CWB]

To the CWB,

I see you withdrew wheat and barley PPO Fixed Pricing yesterday, and it appears you are not pricing my grain today!

I can price Canola this morning!

I can price feed wheat domestically this morning!

I can price feed barley this morning domestically!

What happened to your monopoly, and being able to lead the market?

Why have you withdrawn from the market?

Are we farmers important to you or are we just your slaves?

Does this mean you will not sell any wheat or barley today?

I thought you folks were supposed to be leaders, not sheep?

This is a major indication to me that your words are hollow, and that your imaginations and creativity are bankrupted!

How about being leaders for a change, or were all your brains in the World Trade Centre and the Pentagon?

I didn't know the CWB was run out of the USA, is this true?

[charliep]

Not to take the side of the CWB but rather to highlight we are in very uncertain markets. Until futures markets start trading (closed again today), no one (including the CWB) wants to take the risk of short term market fluctuations. This is the reason that the canola basis has been widened by a buck a bushel. Be prepared for a rough ride as we come out of the crisis that has imposed itself on us. It is a time for cool heads/patience and prayer for the people of New York/Washington and anyone who has had families involved with the tragedy of terrorism.

[TOM4CWB]

Charlie,

At my local elevator this morning they are pricing all grains, including Canola basis contracts off Sept 10 Monday's closes!

I cannot believe the CWB cannot do the same, with the monopoly and all!

My point is that this PPO is not an interegal part of the CWB, it is simply a convienience to them.

I find it hard to believe the CWB is not selling wheat today!!!

If the CWB is selling wheat today, perhaps even at a premium to the US Monday closes, why are our contracts not able to be priced, just like the elevator companies do with all the other grains!!!!

These are the significant times that prove the worth of a business partner as a marketer.

This proves the the true value of a marketer to my business, and their desire and capability to service my needs!

My Killam Agpro gets an A and the CWB gets a D - - -

[ianben]

Hi Tom
I know life goes on, and I am no great supporter of the USA.
Those terrorists did a fantastic job from their point of view.
Who would have believed it could be done!!
Personally I have not thought too much about the price of wheat or anything else, for the last couple of days.

Just how lucky I am to be alive and farming,not working in the sky with 50,000 others when a fanatic flies a plane into the building.
I would hate to live and work in a city

Regards Ian

[melvill]

The events in the US certainly cause one to pause and evaluate life and to consider what's really important. Last night on TV I saw an interview of several young Canadian hot-shot MBA grads who worked in or near the Trade Towers. It talked about them regularly working 100 hour weeks because they wanted to "get ahead" in the financial world. It was said that they are seldom in their apartments except to sleep. Of course, now none of them are working because their buildings are either gone or there are concerns about them being structurely unsound.

My question: "What would possess anyone to live a life like that?" Last night I phoned my 27-year-old 'cause I wanted to hear his voice and I spent extra time extra time with my two younger ones at their bed time. How can career and money be more important than that?

[TOM4CWB]

To the CWB;

Charlie, Lee, and Ian,

Some may say my comments were a low blow, I do not believe they were.

Some “designated area” grain producers live in fear, and have been emotionally crippled because of illegal and immoral use of force and power by the CWB. I am one of these people!

The CWB web site stated on SEPT 11 said they were still doing business and accepting Canadian dollar transactions from purchasers of our grain. Last I checked I get paid in C$ for my grain.

I hope the CWB takes my criticism and does something positive with it, as western Canadian grain producers are the people they must serve, if they are to survive in the long run. I did not see the CWB stop buying pooled grain on these days!

Many of you will not be the same after SEPT 11th.

The same serious:

grieving,

fear, and sadness.

For many of us every day for years, have had heavy hearts because of CWB actions that have destroyed our freedom.

It may be Ottawa who allows these abuses to continue, but the people collectively at 423 Main are still the ones terrorizing me every night.

The moral high ground is that I must forgive the CWB, however, the abuses must end for there to truly be healing!!!!



I am totally amazed at the world outpouring of understanding and caring for the US, when on Monday morning half the world would have said the US was a big bully and deserved to be hit hard where it hurt.



It goes to show what humanity is about, when we think about life and its shortness, and that any one of us could be gone in a moment.

DO UNTO OTHERS, AS YOU WOULD HAVE THEM DO UNTO YOU.

If we don't live together respectfully in peace, then we will be at war.

[charliep]

Tom4CWB

I am only trying to comment on risk over a period like this when uncertainty occurs and how I would react from a business perspective. Periods like we have seen (closed futures markets) mean it is not possible to cover the risk of price change so whatever changes occurred (positive or negative) is carried by the owners/participants - shareholders in the case of a grain company or the contingincy fund/overall pool in the case of the CWB PPOs. Every business had to make a decision as to how to approach this in the face of a world disaster.

Charlie

[TOM4CWB]

Charlie,

The CWB had the same ability as other grain marketers to make contracts with customers using Monday's close to price by.

In fact if the monopoly means anything they are in a much stronger position to require this of the grain buyer internationally.

The same thing is happening with malt barley now.

The CWB has the ability to force malt barley prices higher, to compete with the domestic feed market, and take those supplies away by paying a premium.

But for some reason the CWB is refusing to extract a premium, from a malt customer who can obviously afford to pay up for high quality!

Now I am told of barley with 2.5% wheat being blended with other malt barley to create more product!

This not only creates profits for the grain companies, it also degrades our reputation as a high quality supplier of this product! All because the CWB is there to protect grain companies and "equalize" grain producers opportunities!

Why doesn't the grain producer who produced the good pure malt barley get paid the premium, and the malt company do the buying of the substandard product if they are willing to take the risk?

The end situation is no different in either the stopping of pricing, and the CWB malt/feed barley marketing disaster we now face.

THE people the CWB is supossed to serve are having options removed by the CWB retaining the monopoly and using it in esence against "designated area" grain producers!

[charliep]

Most grain companies have a steet malt where they buy barley in general and blend to meet specifications. This is compared to the old days when the identity (at least in theory) was maintained at the producer level (car lots had to be kept separate).

In the new world, this has meant is that the grain company can make the selection/get the farm manager paid at time of delivery. They bear the risk if the malt blend falls out of contracted quality specifications.

To put some numbers to things, total crop malt barley selected/in pool has been around 2 MMT (range 1.8 to 2.2) with 1 MMT processed domestically (about 375,000 for domestic market and remainder exported as malt product) and 800,000 t to 1.2 MMT sold as seed.

I will let discussion carry on from here.

[charliep]

I am shocked at the writings in this forum. However, it is nothing less than I have come to expect.

Note that the AWB halted pricing. Note that the commodity exchanges were not open for business. Note that many traders around the world reported that there was no trading.

The CWB pricing options require positions to be offset when a farmer makes the pricing decision. Under the circumstances, there was significant risk of running the price based on Monday values. If the market had of had a significant advance or decline, it would have had an impact on the program. The deduction to determine the basis is in effect dependant on the program ability to place effective hedges and remove them at the appropriate time. This includes money market risk management.

To insinuate that there is some element of terror in the operations of the CWB analagous to the US attacks is absurd.

The CWB is governed by a majority farmer representatives on the Board of Directors. We can't forget that.

Tom