The Canadian Wheat Board has extended sign-up deadlines on three pricing options.
The sign-up window for FlexPro will be extended by nearly six months. The extension will allow farmers to assess the volume and quality of their crops before deciding if they should enter a FlexPro contract.
Previously, farmers who used Flex-Pro contracts were required to commit tonnage within a six-week window before the start of the new crop year Aug. 1.
After tonnage was committed, producers could lock in prices on any day throughout the crop year.
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For the 2011-12 crop year, producers can enter a FlexPro contract at any time between July 18 and March 15.
An adjustment factor will be applied to contracts signed after Aug. 1.
The changes will allow farmers to take advantage of FlexPro pricing once they have a clearer idea of what they will harvest in this year of weather challenges.
In 2010-11, 951 farmers signed FlexPro contracts, committing 127,000 tonnes.
The deadline to sign up for the fixed price contract (FPC) and basis price contract (BPC) programs for 2011-12 have been extended to March 15. The previous deadline was Jan. 31.
Adjustment factors will also be applied to FPC and BPC contracts signed after Jan. 31.
