Grain farmers are being given another chance to benefit from the Canadian Wheat Board’s early payment option program.
The board has announced that farmers can apply previously delivered wheat, durum and selected barley to new EPO contracts for the 2004-05 crop year.
In addition, farmers with existing EPO commitments can apply previously reported deliveries that occurred before the date of their EPO contract.
The goal of the changes is to help farmers get paid more quickly for previously delivered grain.
“Cash flow is critical for many grain farmers right now and these changes should help their situation,” CWB chair Ken Ritter said in announcing the new policy, which will be in effect only for this year.
Farmers who apply previously reported deliveries to an EPO will receive an additional payment within 10 business days, made up of the difference between the locked-in early payment value and the initial payment for the reference grade, less a discount.
Farmers participating in the EPO program remain in the pool and are eligible for future adjustment, interim and final payments.
