CWB Sets 2008-09 Initials

WINNIPEG - Jul 31/08 - SNS -- The Canadian Wheat Board (CWB) announced the 2008-09 initial payments for the various grades of wheat and barley. The payments are effective August 1, 2008 for deliveries into the 2008-09 pool accounts.

The initial payments, in dollars per metric ton (MT), for base grades in each pool account are listed below. Also listed below are the anticipated final pool returns for farmers, based on the CWB's July 24, 2008 Pool Return Outlooks (PROs).

          Canadian  Wheat Boared 2008-09 Initial Payments
          Grade                       2008-09                   2007-08
                               Initial       PRO         Initial        PRO

Wheat    No. 1 CWRS 12.5        $213        $333         $147.50        $367
Durum    No. 1 CWAD 12.5        $250        $405         $144.00        $505

Feed barley                     Pool A                   Pool B
No. 1 Canada Western Feed       $150        $245         $157.50        $279

Designated barley
Select Canada Western Two-Row   $254        $360         $162.00        $293
Select Canada Western Six-Row   $234        $340         $144.00        $267

Initial payments represent the first portion of the returns farmers can expect from the sale of their grain over the entire pool year. The Government of Canada guarantees initial payments and therefore approves the level at which they are set.