Wheat and durum growers can expect some cash next week as the Canadian Wheat Board’s 2008-09 initial payments are raised across several classes and grades.
The CWB on June 23 announced its adjustment payments, as well as the final payments for Pool A feed barley.
The increased 2008-09 initials for wheat will translate to adjustment payments of $20 per tonne for Canada Western Red Spring (CWRS), Extra Strong (CWES), Hard White Spring (CWHWS), Prairie Spring Red (CPSR) and Prairie Spring White (CPSW).
In durum, increased initials of $55 per tonne will apply across all grades except No. 5 Amber durum (CWAD), the CWB said.
For example, the $20 adjustment in No. 1 CWRS (12.5 per cent protein) on top of the original initial payment last August of $213 and a March 2009 adjustment of $30 will raise the total payment to date to $263 per tonne. Last month’s 2008-09 pool return outlook (PRO) for that grade and protein sits at $296 per tonne.
And the $55 adjustment in No. 1 CWAD (12.5), on top of the $250 per tonne initial payment last August and a March 2009 adjustment of $25.80, puts the total payment to date at $330.80 per tonne. Last month’s PRO for that grade sits at $364 per tonne.
Farmers who delivered the applicable grades of wheat and durum to the CWB so far in the 2008-09 crop year will get the adjustment payment by direct deposit on July 7 or by cheque in the mail by July 16. Farmers who’d rather defer these payments have until June 30 to notify the CWB.
POOL A BARLEY
The CWB’s final payment for 2008-09 Pool A feed barley will be $41.64 per tonne for No. 1 CW barley. On top of last August’s initial payment of $150 per tonne, that translates to a total payment of $191.64 per tonne.
Prairie farmers who delivered to Pool A, which ran from Aug. 1, 2008 to Jan. 31, 2009, can expect the final payment by direct deposit June 30, or in the mail by July 10.
In the case of Pool A barley, the CWB said it will contact farmers who delivered to this pool to ask whether the final payment should be issued or deferred.