The Canadian Wheat Board has reminded farmers who have taken a fall cash advance that they can apply for an additional $30 per tonne for their grain, to be paid before delivery.
The CWB’s Pre-Delivery Top-Up program provides additional cash flow early in the crop year, said Ken Ritter, CWB chair.
“Early in the season, many farmers require immediate cash flow to pay suppliers,” Ritter said in a News release
news. “The PDT is another example of the choices farmers have when marketing their crop.”
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The top-up program was introduced in 2003-04, but was limited to classes other than Canada Western Red Spring wheat. In 2004-05 it was expanded to CWRS.
The sign-up deadline is Oct. 31 except for CW Red Winter wheat and wheat delivered to the CWB under the identity preserved contract programs, which have a sign-up deadline of Sept. 24.
To qualify for a PDT payment, participating farmers must sign up for a fall cash advance and then apply for a PDT contract.
Farmers can expect payment within 10 business days of signing the contract. Participants will be responsible for the costs of the program, including risk management, administration costs and time value of money. Repayment will be made through subsequent payments made by the farmer in accordance with his deliveries.
