Prairie farmers turned to the Canadian Wheat Board’s producer payment options in record number in 2010-11.
A record 3,206 farmers signed basis price contracts (BPCs) during the year for a total tonnage of 776,560 tonnes, the third highest ever.
For fixed price contracts (FPCs), 8,746 producers signed on for a record 3.82 million tonnes. It was the second highest total ever.
As well, 3,323 producers signed up for the early payment option (EPO), committing 655,285 tonnes.
The sign-up deadline for PPOs was Jan. 31, three months later than it was in 2009-10.
The extension was designed to give farmers more time to assess grain quantity, quality and market conditions before committing to an FPC or a BPC.
Dave Gallant, manager of farm programs for the wheat board, said he’s not surprised at the increased participation in 2010-11, given strong grain markets, rising prices and farmers’ increased awareness and understanding of PPOs.
“Farmers are really starting to understand how to use the programs and are taking advantage of the opportunities they present.”
He said it’s hard to predict whether the increased interest will continue into 2011-12, given the volatility and unpredictability of grain markets and prices.
