CWB Seeks Initial Payment Changes

WINNIPEG - Aug 2/07 - SNS -- The Canadian Wheat Board (CWB) wants the federal government to immediately adjust initial payments for wheat and durum and to establish initials for barley for the 2007-08 marketing year.

"The markets for both wheat and durum have moved substantially from the time we submitted our recommendations. These initials need to be adjusted upward to make them meaningful to farmers," said Greg Arason, President and CEO.

The initial payments, in dollars per MT, for base grades in the pool accounts are listed below. Also listed below is the anticipated final pool return for wheat and durum, based on the CWB's July 26, 2007 Pool Return Outlook (PRO). The payments are effective immediately for deliveries into the 2007-08 pool accounts.

     Canadian Wheat Board 2007-08 Inital Payments
                                                Initial   PRO

Wheat No. 1 Canada Western Red Spring    12.5   $147.50   $232
Durum No. 1 Canada Western Amber Durum 12.5     $144.00   $272
Feed    barley No. 1 Canada Western             $107.00    NA
Designated barley
 Special Select Canada Western Two-Row          $162.00    NA
 Special Select Canada Western Six-Row          $144.00    NA