The Canadian Wheat Board has received approval to raise initial payments on all classes and grades of 2011-12 wheat and durum.
The increases are $28 per tonne for wheat and $44 per tonne for durum.
The increase will take No. 1 CW red spring wheat 12.5 percent protein to $252.35 at port. The May Pool Return Outlook for that grade was $284, meaning the initial payment now stands at about 89 percent of the PRO.
No. 1 CW amber durum 12.5 percent protein will rise to $303.30 per tonne at port. That also represents about 89 percent of the May PRO, which was $339.
Payments for grain already delivered will be deposited in producers’ accounts June 26.
Cheque payments will be delivered for mailing by June 29.
Those who wish to defer payment have until June 22 to notify the CWB by calling 800 275 4292.
