WINNIPEG, MANITOBA, CANADA — The Canadian Wheat Board (CWB) said on Jan. 13 that it will offer farmers a full portfolio of grain-marketing programs in the 2012-13 crop year, including pooling options, futures contracts and cash prices.
"The grain-marketing landscape is changing, but farmers' business needs are the same," said CWB President and Chief Executive Officer Ian White. "Farmers want good returns for their grain, solid risk management and timely cash flow. We're ready to deliver competitive alternatives that farmers can use with confidence as they build individual marketing strategies."
White said the CWB will launch its new package of grain-marketing solutions this year.
"Our global reputation and customer network are unsurpassed," he said. "Our professional marketers and risk managers are the best in the business. Grain marketing is the CWB's entire focus. It's what we do. We've got the expertise and the experience to serve farmers really well in the new environment."
White noted that CWB finances continue to be backed by the full guarantee of the government of Canada, which will provide security for farmers in the new open-market environment that begins Aug. 1.
"Our experts will assist farmers in building a solid marketing portfolio that will keep them ahead of the game, with whatever combination of programs makes the most sense for their own farm business plans," White said.
Detailed program information will be announced throughout 2012. The summary below is a high-level description of CWB programs that farmers can expect.
- Price pooling: The CWB will offer short- and longer-term pool periods. Payments will take the form of initial payments, followed by adjustment and final payments. Early Payment Options will be available. The shorter-term pool will create early delivery opportunities for farmers, while the longer-term pool will call deliveries throughout the pooling period.
- Futures contracts: Farmers can hedge wheat on the Minneapolis, Kansas City and Chicago grain exchanges. Farmers can lock in a price that takes care of futures values, foreign exchange and delivery with one decision. They will also have the flexibility to choose a base grade of wheat.
- Cash contracts: Farmers choose when they price and sell, and receive full payment soon after delivery, with delivery opportunities offered in accordance with contract terms.
- Support for a marketing strategy: Frontline CWB staff will be available to explain CWB programs.
- Connected to farmers: Farmers can indicate their interest now by contacting their local CWB Farm Business Representative, calling the Farm Business Team at 1.800.275.4292 or e-mailing firstname.lastname@example.org. Farmers can also be directly alerted to new program announcements and updates by registering at www.cwb.ca/email.