WINNIPEG — Western Canadian farmers have an extra day and a half to sign up for the Canadian Wheat Board’s Early Delivery Pool.
The board announced today that last Friday’s sign-up deadline has been extended until noon tomorrow after a rush of last-minute, online sign-ups on Friday caused technical delays.
The Early Delivery Pool is one of two pooling options the revamped CWB is offering to grain farmers in its first year of competing with other grain companies and end users for farmers’ wheat, durum and barley. It provides for earlier guaranteed delivery and payment by Jan. 31.
The second option — the Harvest Pool — has a sign-up deadline of Oct. 31, with delivery and payment any time before the end of the crop year (next July 31).
Pooling is a strategy for risk management because it provides farmers with an average price received from all markets over the entire pooling period, rather than whatever price that was agreed to when the contract was signed.