Could the CWB have virtually No crop to sell in 2011 2012 crop year?

[charliep]

Perhaps the question back at you is what is the true cost of operating the risk management programs around the producer payment options? when the results of the 2009/10 contingency fund are
released, how much money was harvesting from this past crop year to prop up the fund.

Perhaps even more frustrating is the variability in CWB basis levels for their fixed price contracts. After 10 years, can you explain CWB basis or tell me what a good basis is?

[URL="http://www.cwb.ca/public/en/farmers/producer/historical/pdf/basis_cwrs_cwhws.pdf"]CWB hisortical basis[/URL]

[charliep]

Basis charts.

2008/09 (December fpc) - started $30 under, rallied to $10 under and remained in The $15 to $20 under most of the period until
November 2008. Paid off the deficit in the contingency fund plus transfered $16 mln back to the overall pooling system (repayment of
previous years liability to the pool).

[URL="http://www.cwb.ca/public/en/farmers/producer/historical/pdf/2008-09/2008-09fpcbpccharts.pdf"]2008 09[/URL]

2009/10 - Basis started at $15 under and then strengthened in a pretty linear fashion to $25 over. Results including the amount
transferred to the contingency fund not known until this winter when the annual report is published.

<a href="http://www.cwb.ca/public/en/farmers/producer/historical/pdf/2009-10/2009-10fpcbpccharts.pdf">2009 10</a>

2010/11 - Basis started at $10 over and gradually strenghthened to $40 over (current levels not including adjustment). Accounting for
risk management money/cost/contingency not reported until February 2012.

<a href="http://www.cwb.ca/public/en/farmers/producer/historical/pdf/2010-11/2010-11fpcbpccharts.pdf">2010 11</a>