Wheat growers planning to take part in almost any of the Grain Farmers of Ontario’s 2012 wheat pools are eligible for advances to their initial payments.
Guelph-based GFO on Thursday announced that all farmers willing to pre-commit to its marketing department’s 2012 pooling program before July 31 are entitled to $20 per tonne, in addition to the initial payment on delivery of pool wheat at harvest.
The offer is open for all pools except Pool G (feed wheat) and is open for a "limited time," GFO said.
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The "pre-commitment" offer was made "to provide our members additional cash flow at harvest and provide an extended marketing window to our sales staff," GFO vice-president Ryan Brown said Thursday in a release.
Initial payments for this year’s GFO pool include:
- Pool A, soft white winter: $140
- Pool B, hard red winter: $145
- Pool C, hard red spring: $158
- Pool E, soft red wheat: $135
- Pool F, hard red: $135
- Pool G, feed: $108
Farmers can pre-commit to the pool before July 31 by calling the GFO office at 1-800-265-0550.
In the GFO pools, wheat growers can deliver wheat between June 1 and Sept. 30 to any GFO-appointed agent, terminal or processor and take part in the pooling program.
GFO suggests the pooling option when "you want the board to market your wheat for you" or "you believe pooled returns will be greater than returns from other marketing alternatives," and you can afford to wait for payment.
Any farmer with a pre-commitment to the pool can opt to roll his or her contract into a forward or cash contract anytime before the Sept. 30 pool deadline, for an administrative fee of $4 per tonne, GFO noted Thursday.
