WINNIPEG, MANITOBA, CANADA — The Canadian Wheat Board (CWB) on April 10 announced that 2011-12 initial payments for all grades and classes of non-durum wheat will increase effective April 12. The increases will range from C$4.10 to C$41.25 per tonne, depending on grade and class.
The adjustment payments, in dollars per tonne, for representative grades of Canada Western Red Spring (CWRS) wheat in the pool account is available at http://www.cwb.ca under “Farmers” and “Farmer Payments”.
Farmers who delivered wheat to the CWB between Aug. 1, 2011 and April 11, 2012 will receive an adjustment payment. Producers will receive payment by direct deposit on April 24. Checks will be delivered for mailing to Canada Post by April 27, and farmers can expect to receive them by May 4. Farmers who wish to defer payments have until April 20 to notify the CWB by calling 1.800.275.4292.
Initial payments should not be confused with monthly Pool Return Outlooks, which are CWB estimates of farmers’ total returns from each pool account. Rather, initial payments represent a portion of the returns farmers can expect from the sale of their grain over the entire year.
During the crop year, the CWB regularly reviews the initial payments and recommends adjustment payments if market conditions and sales progress warrant. The government of Canada guarantees initial payments and therefore approves the level at which they are set.