The new CWB announced Aug. 23 that for the first time in 63 years a new crop has been added to the types of crops it markets throughout the world, joining current crops of wheat, durum and barley.
"Farmers have been telling us they want CWB to run canola pools to help manage their price risk and provide them with reliable returns through a system they can trust," said CWB president and CEO Ian White, adding farmer sign-up is now open for the new CWB canola pool.
"The farmer benefits of pooling apply just as successfully to canola as to wheat. Farmers retain all the profits generated from their grain sales, instead of simply taking a flat price at the elevator. It also means they can spend more time on their crops instead of chasing the commodity futures markets."
CWB weather and crop experts are anticipating a record-sized canola harvest on the Prairies this year, up by more than five per cent from last year to over 15 million tonnes, a number that is about 30 per cent higher than the five-year average.
Canola producers can deliver the canola they contract with CWB to 42 delivery points across western Canada, with more locations expected. White said producers can participate in the risk management benefits of a canola pool while retaining the flexibility of dealing with whatever handling company they choose.
"A big advantage to contracting with CWB is that farmers can sign first and choose their grain handler later. That means they can shop their grain around to get the best possible deal on handling and elevation fees."
White said farmers who choose CWB as their marketing partner can be assured their grain will be sold into the world's best markets. CWB customers around the globe continue to value a sales relationships built up over 75 years, based on a long-standing reputation for quality and service, and a prized international brand, he said.
"CWB has strong long-term relationships with many of the world's largest canola importers, who look forward to adding canola to the list of other grains they plan to buy from CWB," White said. "Our overall sales objective is to focus on buyers by serving them well, and to capture the best possible sales prices for farmers through the pool over the entire marketing year."
Delivery locations for CWB Canola include Great Sandhills Terminal in Leader, Mission Terminal in Neville and South West Terminal in Antelope.
More information on CWB programs is available at www.cwb.ca/newera.