Prairie wheat growers can expect to see some additional cash by early May from another increase in the CWB’s 2011-12 initial payments.
The CWB on Tuesday announced adjustment payments will be direct-deposited in eligible farmers’ accounts on April 24, which those who receive such payments by mail can expect to see their cheques by about May 4.
The federal government, as the guarantor for the CWB’s initial payments, must approve the level at which they’re set, including any increases the CWB recommends during the crop year when "market conditions and sales progress warrant."
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The increases announced Tuesday for non-durum wheat initials range from $4.10 to $41.25 per tonne (11 cents to $1.12 per bushel).
The low-end payment of $4.10 is to go to No. 4 Canada Western red spring (CWRS) and No. 4 CW hard white spring (CWHWS). In both those cases, the initial payment rises to $170.10 per tonne, in-store Vancouver or St. Lawrence.
The highest increase in 2011-12 initials will go to growers of No. 1 Canada Western Extra Strong (CWES) at $41.25 per tonne, raising the total initials to $226.10 and $228.10 per tonne respectively for No. 1 CWES and No. 1 CWES (12.5 per cent protein).
Among other examples in this round of adjustments, No. 1 CWRS will see an increase of $16.35 per tonne, for total initial payments to date of $212.60. No. 3 CWRS will see an added $23 per tonne, for a total so far of $201.25. No. 2 CWES will see $36.15 per tonne added, for total initials of $218 per tonne.
