The 2007-08 crop year is one for the books and according to the Canadian Wheat Board (CWB) it shows the value of price pooling and single-desk selling.
Total CWB earnings from wheat, durum and barley sales for the year ending July 31, 2008 hit a record $8 billion, up from the previous record of $6.1 billion in 1996-97 and 63 per cent above the $4.9 billion reported in 2006-07.
Farmers received record payments too, said CWB spokesperson Maureen Fitzhenry. Final CWB payments were announced in December, bringing the total in-store pooled return for No. 1, Canada Western Red Spring wheat (12.5 per cent protein) to $368.59 a tonne or $10.53 a bushel, up 76 per cent from the previous crop year. After deductions a Manitoba farmer took home about $8.52 a bushel.
The returns were even better on durum, which is mostly grown in Saskatchewan. The total pooled return for No. 1 Canada Western Amber durum wheat (12.5 per cent protein)