CWB’s 2010-11 initial payments boosted

Prairie growers who’ll have delivered wheat, durum and/or Pool B feed barley to the Canadian Wheat Board between last Aug. 1 and the end of this month are up for adjustment payments of as much as $75 per tonne.

The CWB on Monday announced it has received federal approval for increases in the initial payments on those crops for the 2010-11 crop year, effective Friday (April 1) and to be issued starting April 12.

Depending on grade and class, the increases in the initials will range from $23.30 to $49.80 per tonne for wheat, from $16 to $30 per tonne for durum and $75 per tonne for Pool B feed barley.

For example, high-protein No. 2 Canada Western Red Spring (CWRS, 15.5 per cent protein) will bring an adjustment payment of $49.80 per tonne ($1.36 per bushel), while the initial for No. 1 CW Red Winter (CWRW, 14 per cent protein) will be adjusted upward by $30.30 per tonne (82 cents/bu.).

No. 1 CW General Purpose or feed wheat, meanwhile, will get adjustment payments of $23.30 per tonne.

Most protein breaks of No. 1, 2 and 3 CW Amber Durum (CWAD) will see adjustment payments of $29 per tonne (79 cents/bu.), except for No. 1 CWAD (12.5 per cent), which will get $30. At the low end of the range, initials for No. 5 CWAD will rise $16 per tonne (44 cents/bu.).

In Pool B for feed barley, No. 1 CW, No. 2 CW and Standard CW Hulless will all see adjustment payments of $75 per tonne (99 cents/bu.).

Cheques will be delivered for mailing to Canada Post by April 15 or received by direct deposit April 12. Farmers who plan to defer the adjustment payments have until April 8 to notify the CWB by calling 1-800-275-4292.

Initial payments represent a portion of the returns Prairie growers can expect from the sale of their board grains over the entire year, and are not to be confused with pool return outlooks (PROs), the estimated values for farmers’ total returns from each pool account.

Where it’s warranted, the CWB can recommend adjustments to the initial payments, which must then be approved the the federal government, the guarantor of those payments.

Previous rounds of increased initials and adjustment payments for 2010-11 were issued in mid-December and late January.

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