Approval is expected sometime next week to roll out CWB’s final payments for the 2011-12 crop year sometime in mid-February.
The former Canadian Wheat Board said in a recent statement it had sent its proposed 2011-12 final payment rates to the federal government on Dec. 18 for approval.
However, members of Parliament don’t return to the House of Commons until Monday (Jan. 28). The federal government, as CWB’s guarantor, must approve the level at which payments are set.
CWB last Friday (Jan. 18) also issued an adjustment payment of $50 per tonne on all eligible tonnes of wheat and durum in its 2012-13 Early Delivery pool.
Farmers who deliver against their 2012-13 Early Delivery pool contract at any point in the year will still get the original initial payment at the elevator. CWB will then pay the adjustment payment directly to the farmer.