Initial payments for the Canadian Wheat Board's 2011-12 crop year have been announced.

The initial payment for Number 1 Canada Western Red Spring Wheat with 12.5 percent protein is set at $208 per tonne, up from $128 at the start of the 2010-11 crop year.

Barley growers can expect an initial payment of $230 per tonne for select two-row barley and $155 for Pool A feed barley.

The initials represent a portion of the returns farmers can expect for grain delivered into the CWB's pool accounts. The CWB regularly reviews the initial payments and recommends adjustment payments based on market conditions and sales progress. Farmers receive a final payment at the end of the crop year. The federal government guarantees the payments and must approve the level at which they are set.

~ Monday, July 25, 2011 ~