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Farmers

Exiting a contract

Buyouts

2011-12 buyout fees

Effective: Feb 22, 2012 3:00 p.m. CT
Expires: Feb 23, 2012 2:59 p.m. CT
All deadlines are listed as Central time (CT). Winnipeg is in the Central time zone.

WheatPer-tonne fee
Canada Western Red Spring$2.89
Canada Prairie Spring Red$4.38
Canada Prairie Spring White$0.00
Canada Western Red Winter$5.53
Canada Western Hard White Spring$15.77
Canada Western Soft White Spring$2.19
Canada Western Extra Strong$2.89
No.4 Canada Western Red Spring
and Canada Feed Wheat		$0.00
Durum
Canada Western Amber Durum
Nos. 1, 2 and 3		$0.00
Canada Western Amber Durum
No. 4		$0.00
Canada Western Amber Durum
No. 5		$0.00

Historical buyouts

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Buying out of a 2011-12 accepted delivery contract

You can buy out of a delivery contract during the current crop year. To perform a buy-out, you pay the daily buy-out fee (posted above for 2011-12) and a $25 administration fee. Buy-outs are available for wheat, durum and feed barley, once an acceptance level has been announced for that class. You can buy out of the following 2011-12 delivery contracts (once the contract sign-up deadline has ended):

If you want to buy out of your 2011-12 delivery contract(s), you must call the CWB at 1-800-275-4292 with your CWB 10-digit ID number and four-digit PIN. Two fees are applied: a per-tonne daily buy-out fee (posted above) and a $25 administration fee. Buy-out fees, which vary by class, are posted at 3 p.m. CT, Monday to Friday. The CWB Farm Business Team is available from 9 a.m. to 5 p.m. CT, Monday to Friday.

The daily fee is calculated by taking the difference between the per tonne price for which the CWB can expect to sell the grain today and the average value at which the CWB has sold comparable grain during the pool year. This is multiplied by the percentage of the pool sold to date. If the buy-out fee is $0, only the administration fee of $25 is applied.

The buy-out fee accurately reflects the true market cost associated with buying out accepted tonnes committed to a contract. The CWB makes sales to customers based on accepted tonnes.

Total buy-out fee = [(expected price - average price)] x (per cent pool sold) x # of tonnes

To complete a buy-out, call the Farm Business Team at 1-800-275-4292.

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Adjusting a delivery contract before acceptance

Delivery contracts can be adjusted before acceptance through e-Services or by contacting your grain elevator representative or calling the CWB Farm Business Team.

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Delivery contract assignments

You can opt to assign, or transfer, a portion or all of your delivery contract to another producer. This can be done at your local elevator, or click here for the assignment form. Both the producer assigning the contract and the producer receiving the contract must sign the form. Assignments can be done after Series A acceptance.

There is a $25 administration fee (no per-tonne fee is applied to assignments).

Contract assignment can be done for all delivery contracts except the Churchill Storage Program and Wheat Storage Program, which have their own assignment forms, and GrainFlo, which cannot be assigned. For more information, call 1-800-275-4292.

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