The Canadian Wheat Board has announced initial payments for the new crop year.
Initial payments are made when farmers deliver board grain and are guaranteed by the federal government.
The initials range from 60 to 64 percent of the July Pool Return Outlook, indicating a more cautious approach by the government than last year when the guarantees were 62 to 68 percent of the PRO.
No. 1 Canada Western Red Spring 12.5 percent protein wheat is $128 per tonne or $3.48 per bushel at port, which is 61 percent of the July Pool Return Outlook of $210 per tonne or $5.72 per bu.
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The initial payment would work out to an on-farm price in Saskatchewan of $68.44 per tonne or $1.89 per bu., using the freight and handling deductions in place in the 2009-10 crop year.
Deductions for 2010-11 are not yet available.
No. 1 Canada Western Amber Durum 12.5 percent protein is $119 per tonne at port, or 60 percent of the July PRO of $200.
Select Canada Western Two-Row malting barley is $138 at port or 64 percent of the July PRO of $214.
Select Canada Western six-row is $118 per tonne at port or 60 percent of the July PRO of $197.
No 1 feed barley pool A is $88 per tonne at port, or 62 percent of the July PRO of $143.
A complete list of payments for all grades is available at www.cwb.ca/payments.
