Prairie wheat and barley growers who delivered to the Canadian Wheat Board in the 2010-11 crop year can expect to see interim payments somewhere between $2.80 and $55.20 a tonne starting Nov. 8.
On average, the interim payments for milling wheat and durum, which will vary widely by grade, class and protein percentage, will be $25.50 and $23.30 per tonne, respectively. The biggest of the per-tonne interim payments will go to No. 2 Canada Western Red Spring, 15.5 per cent protein, at $55.20; the lowest, $2.80, will go to No. 2 CW Soft White Spring wheat.
Malting barley will yield an interim payment of $6 per tonne (13 cents a bushel) and Pool B feed barley, $7 (15 cents), the CWB announced Friday.
Read Also
U.S. grains: Soy futures top one-week high, US crop outlook limits gains
Chicago Board of Trade soybean futures hit their highest level in more than a week on Thursday as technical buying helped the market recover from a three-month low reached on Monday, analysts said.
Interim payments, issued after a crop year ends, are an earlier partial payment of proceeds farmers would otherwise see in a final payment.
In this instance, the interim payments are effective Thursday (Oct. 27) but will be issued by direct deposit on Nov. 8 or by cheque via regular mail by about Nov. 18.
For examples, interim payments for the highest-protein No. 1 CWRS wheat, 15.5 per cent, will be $41.10 per tonne ($1.12 per bushel), while No. 1 CWRS at 11 per cent will fetch an interim of $17.75 per tonne (48 cents a bushel).
For No. 1 CW Red Winter Select at 11 per cent protein or higher, the interim payment will be $26.40 per tonne (72 cents a bushel), while for No. 1 CW Amber Durum (11 per cent), the payment will be $24.25 per tonne (66 cents a bushel).
As usual, final payments to farmers are expected to be made after CWB accounts are finalized, typically in early December. Farmers who wish to defer their interim payments have until Nov. 4 to notify the CWB.
