Canada: Canadian Wheat Board announces interim payments for the 2004-05 crop year
The Canadian Wheat Board announced on October 26 2005 that interim payments will be made on all grades of wheat and durum delivered to the CWB during the 2004-05 crop year, as well as feed barley delivered into the 2004-05 Pool B.
Interim payments represent partial settlement of the proceeds due to farmers from the sale of their grain. Interim payments are issued after July 31 (the crop year runs from August 1 to July 31) and are an earlier payment of proceeds that would otherwise be included in the final payment.
The interim payments for feed barley Pool B are from C$40 to C$44 per tonne. There are no interim payments for designated barley; remaining funds in that pool will be disbursed as final payments.
CW Barley Grade Initial payment is of C$74, interim payment of C$40 and total payment to date f C$114
Interim payment cheques will be mailed to farmers on October 25, 2005. Direct deposit payments will be credited to most farmers' accounts by their financial institutions on October 26, 2005.
Payment rates for specific grades can also be obtained by calling the CWB toll-free at 1-800-275-4292. To estimate the remaining payments, compare the total paid to date with the CWB's September 2005 Pool Return Outlook (PRO) for the 2004-05 crop year, which is also posted on the Web site.
Controlled by western Canadian farmers, the CWB is the largest wheat and barley marketer in the world. As one of Canada's biggest exporters, the Winnipeg-based organization sells grain to more than 70 countries and returns all sales revenue, less the costs of marketing, to Prairie farmers.
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